ELV · 10-Q · 2026Q2 · Full report

Marketplace Regulation Changes

Elevance Health, Inc. · 2026-07-15 · Importance 34 · Surprise 42

CMS finalized the Marketplace Integrity and Affordability Regulation in June 2025, which changes Public Exchange open enrollment periods (effective plan year 2027) and eligibility rules for Premium Tax Credits (PTCs), among other items. A federal court delayed the effective dates for several provisions in September 2025 pending litigation, and CMS subsequently issued guidance modifying eligibility requirements for ACA catastrophic plans in September 2025. Elevance expects these regulatory shifts to influence the Public Exchange environment, federal subsidies and market stability, potentially affecting Individual ACA enrollment and pricing dynamics. The company continues to monitor litigation and guidance that could alter implementation.