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Managed Care

In 41 states and DC, most children covered by Medicaid are enrolled in managed care organizations (MCOs). MCOs are responsible for organizing and maintaining networks of providers that are adequate to furnish needed services to enrollees.

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  • Medicaid Managed Care: The Big Five in Q1 2026

    The “Big Five” have reported their financial and enrollment results for the first calendar quarter of 2026. The “Big Five” are the five largest publicly-traded insurers, measured by enrollment, in the Medicaid managed care market. Four of them—United Health Group, Elevance, CVSHealth/Aetna, and Centene, in that order—were also the four largest commercial health insurers by…

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  • Medicaid Managed Care:  The Big Five in Q4 2025

    The Q4 2025 results for the “Big Five” Medicaid managed care companies are now available.  These publicly-held companies—Centene, CVSHealth/Aetna, Elevance, Molina, and UnitedHealth Group—together control about half of the Medicaid managed care market, so their performance matters to tens of millions of Medicaid beneficiaries. (The results for prior quarters in 2025 are here, here, and…

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  • Medicaid Managed Care: The Big Five in Q3 2025

    Q3 2025 is the first quarter of a new chapter in the Medicaid managed care narrative.  At the beginning of the quarter, H.R. 1 was enacted.  As explained by our colleagues Edwin Park and Sabrina Corlette, the new law will upend Medicaid enrollment and financing for years to come, cutting federal payments to states by…

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  • Medicaid Managed Care: The Big Five in Q2 2025

    Q2 2025, which ended on June 30, is not just another quarter.  That’s because on July 4 the Budget Reconciliation Law (P.L. 119-21) was signed into law.  That law makes major cuts to Medicaid, reducing federal payments to states by $990 billion over the next ten years and leaving 7.5 million Americans uninsured in 2034.…

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  • Where Interests Conflict: Medicaid Managed Care Meets Work Reporting Requirements

    Q2 ended on June 30, and the earnings calls have started.  The first of the “Big Five” Medicaid managed care companies out of the gate was Elevance Health.  The financial analysts on last week’s call had a number of questions relating to the Medicaid provisions of the Budget Reconciliation Law (BRL) P.L. 119-21, that create…

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