Michael Ha

They were similar to what we were seeing in 2027.

So what we have already seen over the past few years, and you can look at CVS's stock chart, Humana's stock chart, United's now, is that the rates have been insufficient to match trends.

And it's created, it's re-tabbed on health insurance.

And if you look at seniors and membership, I mean, for...

Personally, my father had a CVS health plan, and he was looking to re-enroll, but they cut the plan.

So that's what you're seeing right now across health insurers.

They're cutting benefits.

They're cutting plans.

They're sculpting their geographic markets.

They're doing what they can to maintain margins in an environment where rates are, quite frankly, very insufficient.

A loose relationship.

I would just, when we think about the great healthcare plan, Trump, his focus is laser focused on something called the ACA, the exchange marketplace that was created during the Affordable Care Act for individuals, where now there's over 20 million people enrolled.

So this is different from Medicare Advantage, right?

There's

three sub-segments within health insurance.

There's Medicare Advantage, which we're talking about, there's Medicaid for low-income individuals, and then there's commercial, employer and individual.

So when Trump is making his remarks, the Great Health Care Act plan, he's talking about commercial and individual.

So with Medicare Advantage, it's different.

I think for Trump, he really has two goals.

And one, it's cutting premiums for the individual marketplace and passing money back to them, perhaps via HSAs or checks.