CVS · 10-Q · 2026Q2 · Full report

Medical Benefit Ratio

CVS HEALTH Corp · 2026-08-05 · Importance 33 · Surprise 50 · Matches filing data

Health Care Benefits’ medical benefit ratio decreased 250 basis points to 87.4% in the second quarter of 2026 from 89.9% in the prior year. The six-month medical benefit ratio declined 260 basis points to 86.0% from 88.6%. The improvement was driven by better underlying Government business performance and the absence of a $471 million Group Medicare Advantage premium deficiency reserve in the quarter. Year-to-date improvement also reflected the absence of $902 million in prior-year premium deficiency reserves, partly offset by lower favorable prior-period development.

Key facts

Health care costs for the three months ended June 30, 2026 were $31,485 million, an increase of $168 million, or 0.5%, versus prior year. source
Health Care Benefits segment health care costs for the three months ended June 30, 2026 were $30,692 million compared with $30,740 million in the prior year. source
Health Care Benefits segment MBR was 87.4% for the three months ended June 30, 2026 compared to 89.9% in the prior year, a decrease of 250 basis points. source

Impact estimates

metric	direction	stage	expected	basis
operating_income	negative	realized	-0.2%	Health care costs for the three months ended June 30, 2026 were $31,485 million, an increase of $168 million, or 0.5%, versus prior year.