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We expect the Medicare Payment Advisory Commission’s (MedPAC) FY/CY27 provider payment recommendations to meet the same fate as in prior years: largely ignored by Congress, though selectively cited by CMS to justify future regulatory tightening…

President Trump’s long-teased “Great Healthcare Plan”, released this morning, does little to meaningfully move the needle on healthcare redesign or cost containment beyond our prior expectations for legislative action affecting Obamacare insurers, non-ACA managed care…

Despite reports this afternoon that a bipartisan compromise on enhanced Obamacare premium subsidies will not be ready this week and is now expected to slip to the week of January 26, we continue to expect…

This is a busy week in Washington as Congress works through FY2026 appropriations while also advancing several policy items with market relevance. In addition, developments on crypto regulation, Russia sanctions, trade programs, tariffs, and foreign policy are…

Defense is likely to continue benefiting from positive headlines—particularly as President Trump is expected to reiterate his ~$1.5 trillion defense framing in the State of the Union (tentatively scheduled for Feb. 24) and again in his proposed budget (February / early March). However, the most probable outcome remains a materially smaller increase in defense spending constrained by process, timing, and…

With medtech and biopharma companies set to descend on San Francisco next week, below we provide a set of significant policy-related questions for clients to ask management, the answers to which will inform company growth…

Following repeated outreach to Medicare Administrative Contractor (MAC) public inquiry mailboxes, feedback from WPS – responsible for ~13% of INSP services – bolsters our view that the company is unlikely to be able to take…

Consistent with our prior note, we continue to assign 60%-65% odds that the Trump administration suffers at least a partial loss in the International Emergency Economic Powers Act (IEEPA) case currently pending before the Supreme Court (SCOTUS). Importantly, the Court…

With the start of the new year and holdover of some key issues from 2025, 1Q26 promises various policy catalysts across the health insurer and provider landscapes, informing company growth and revenue prospects for the…