Elevance Health Guides -8% Medicaid Enrollment 2026

Wolfe Research says Elevance Health projects the steepest Medicaid enrollment decline at -8% for 2026, the most conservative among peers.
Year‑to‑date Medicaid enrollment fell 1.7% for Elevance, with similar declines for Centene (-1.9%), Molina (-1.3%), UnitedHealth (-1.0%), CVS (-1.8%) and Humana (-1.3%).
Molina Healthcare raised its same‑store attrition guidance to 6% from 2%, aligning with Centene’s ~6% outlook and Elevance’s high‑single‑digit range.
April data shows Arkansas and Indiana enrollment down 2.0% month‑over‑month, while New Jersey grew 0.7% for a third straight month.