April 13, 2025
Vanilla Medicare Inpatient Provider Proposals [HCA, THC, ARDT, EHC, SEM, CHE, ADUS, ENSG, PACS, UHS, ACHC]
Medicare’s proposed FY26 payment regulations for inpatient hospitals [HCA, THC, CYH, ARDT, UHS, MPW, municipal bond-backed facilities], inpatient rehab facilities (IRFs) [EHC, SEM], hospices [CHE, ADUS, Gentiva], long-term care hospitals (LTCHs) [SEM, Kindred], skilled nursing…
April 11, 2025
DC Quick Takes: Trade, Reconciliation/Taxes and Elections
We want to let you know that we are working to set up a trade /tariff conference call for next Wednesday, so keep an eye on your inbox for details. Below are some quick…
April 10, 2025
[CVS, CI, UNH]: Senate Confirmation of 3rd FTC Commissioner Allows for Future Resumption of PBM Litigation
Today’s successful Senate confirmation of Mark Meador to join the FTC as a commissioner paves the way for the FTC to officially resume its antitrust litigation against the pharmacy benefit managers (PBMs) [CVS, CI, UNH,…
April 9, 2025
Trade and Tariff Update and Conference Call Takeaways
We had a conference call on Monday with a former Trump official and give our takeaways and out updated view on tariffs below. Click here for a link to the conference call transcript and audio…
April 8, 2025
Defense Spending Update: Trump Call for ~$1 Trillion for FY26
Recent developments buttress our expectation for an increase in defense spending. A few weeks ago, we told investors when the Trump administration seemingly called for an 8% cut in defense spending that we thought Congress…
April 7, 2025
[HUM, ALHC, UNH, CNC, AGL, PRVA]: MA’s 5%+ Increase Met Our Expectations, But Longer-Term Coding and Part D Questions Remain
The final CY26 Medicare Advantage (MA) rate announcement met our previously-published optimistic expectations for a comfortable mid-single-digit YoY benchmark rate increase for MA insurers [HUM, ALHC, UNH, CVS, ELV, CNC] with CMS finalizing a 5.06% increase, largely…
April 7, 2025
Capitol Policy Weekly—April 7-11: Trade and Tax Cuts
Trade will continue to dominate the news this week, while the House is scheduled to consider the budget resolution that the Senate passed early Saturday before both chambers go out on a two-week recess at…
April 6, 2025
[HUM, ALHC, UNH] Final Medicare Advantage Tech Changes Reg: Most Proposals Dropped Without Explanation, Await CY26 Rate Notice
CMS’s final CY26 technical changes rule for Medicare Advantage (MA) and Part D plans [HUM, ALHC, UNH, CVS, ELV, CNC] lived up to expectations of rolling back proposed restrictions in response to consumer complaints, but…
April 4, 2025
[NVO, LLY] No Medicare / Medicaid Coverage for Obesity Drugs
With no more than a perfunctory reference this afternoon, CMS announces that it will not be finalizing a Biden proposal to allow Medicare Part D plans to cover anti-obesity medications (AOMs) while requiring it of…
April 4, 2025
Trade and Tariff Update: Higher for Longer?
Key Takeaways Even with the market turmoil due to the President Trump’s reciprocal tariffs, we don’t see Trump reversing course in the very near term. In fact, we believe the rhetoric on trade could get…