The Medicare Advantage Calendar
Landscape files / Plan Finder pricing — Wed, Sep 30, late September (in 25 days). First hard look at 2027 benefit design, premiums, and county footprints. The single best pre-AEP read on who is retreating and where.
Three layers on one spine. Payer calls set the trend narrative, broker calls price the distribution channel, and CMS dates decide what either can do next. The regulatory layer moves the sector harder than earnings do, and it runs on a calendar nobody has to guess at.
Prepackaged Chapter 11 in D. Del., ~$917m assets against ~$986m debts. Lenders take control; company expects to emerge before AEP. No Q2 call expected. Q1 2026 revenue ~$11.9m against ~$221m a year prior.
filed · source ↗Reported ahead of outlook. FY26 adj. EPS guidance raised to at least $27; Q2 adj. EPS $7.45. Sets the favourable-trend baseline others are read against.
8:30 a.m. ET · source ↗Sector bellwether. The utilisation-trend narrative here frames every call that follows. Call Read already ingested.
8:00 a.m. ET · source ↗Q2 adj. EPS $1.51 on $10.2bn premium revenue. Small MA book; read mainly for duals and Medicaid rate adequacy.
8:00 a.m. ET · source ↗Centene reported Q2 2026 net income of $1.1B and raised full-year adjusted EPS guidance to $4.80. Medicaid membership declined materially, and the company flagged up to $415M in severance costs tied to Medicaid restructuring. Exchange MLR reached 88.9%, prompting a footprint cut to six states.
8:30 a.m. ET · source ↗The purest MA read in the sector. Benefit ratio, membership trajectory, 2027 bid posture, Stars recovery, and broker channel/commission commentary.
8:00 a.m. ET Q&A (release 6:00 a.m.) · source ↗Cigna reported Q2 2026 adjusted EPS of $7.78 (beat consensus by 2.6%) on revenue of $71.56B (+6.6% YoY), driven by employer-sponsored plans. The company raised its 2026 earnings outlook despite elevated pharmacy and surprise-billing dispute costs.
8:30 a.m. ET · source ↗Alignment filed a lawsuit against CMS contesting the post-Clover star-ratings recalculation methodology, with approximately $50M in MA bonus payments at stake. A prior challenge to Alignment's 2025 star ratings had already failed, with the D.C. Circuit affirming those ratings.
5:00 p.m. ET (after close) · source ↗eHealth reported Q2 2026 revenue of $33.6M (-45% YoY) and a GAAP net loss of $23.6M. MA enrollment and submissions fell 44% YoY as the company reduced affiliate marketing spend and transitioned to its Lifetime Advisory model. Carrier commission terms for 2027 remained uncertain.
5:00 p.m. ET · source ↗CVS reported Q2 2026 net income of $2.979B (triple YoY) on revenue of $106.1B (+7% YoY). Aetna's MA medical loss ratio improved to 87.4% from 89.9% YoY; Aetna membership fell 600K to 26M while operating income doubled. CVS raised full-year 2026 EPS guidance to $7.90–$8.10.
8:00 a.m. ET · source ↗Provider-side view of MA cost trend. Delegated risk economics are the cleanest check on carrier utilisation claims.
4:30 p.m. ET (after close) · source ↗Clover Health reported Q2 2026 MA membership of 157,309 (+48% YoY), GAAP net income of $28M versus a prior-year loss of $11M, and revenue of $743M (+56% YoY). The company raised full-year 2026 MA revenue guidance to $2.92B–$3.00B and adjusted EBITDA guidance to $70M–$85M.
5:00 p.m. ET (after close) · source ↗Privia's stock fell approximately 20% following its Q2 2026 earnings report, driven by concerns over CMS timing. No additional financial details were available in the reported context.
8:00 a.m. ET · source ↗Delegated risk in California. Capitation economics under the 2027 rate environment.
5:30 p.m. ET · source ↗SelectQuote reported 72,180 MA approved policies for the period and full-year operating cash flow improvement of $44M year-over-year, as the company prioritised cash generation over policy volume growth.
8:30 am ET · source ↗First hard look at 2027 benefit design, premiums, and county footprints. The single best pre-AEP read on who is retreating and where.
late SeptemberFrom the CY2027 final rule published Apr 6, 2026. Directly reshapes TPMO and agent/broker conduct for the AEP that starts two weeks later.
effective date · source ↗Sets 2028 quality bonus revenue. The 2026 ratings were released Oct 9, 2025 at a 3.65 average and were subsequently recalculated — expect litigation risk again.
early October · source ↗Projected from the 2026-07-15 call. Not yet announced.
The commercial event of the year. Broker Q3 calls land inside it, so the read is always partial — the quarter that matters gets reported in February.
Oct 15 – Dec 7 · Statutory — 42 CFR 422.62Projected from the 2026-07-16 call. Not yet announced.
Projected from the 2026-07-22 call. Not yet announced.
Projected from the 2026-07-28 call. Not yet announced.
Projected from the 2026-07-29 call. Not yet announced.
Projected from the 2026-07-30 call. Not yet announced.
Projected from the 2026-07-30 call. Not yet announced.
Projected from the 2026-08-04 call. Not yet announced.
Projected from the 2026-08-05 call. Not yet announced.
Projected from the 2026-08-05 call. Not yet announced.
Projected from the 2026-08-05 call. Not yet announced.
Projected from the 2026-08-06 call. Not yet announced.
Projected from the 2026-08-06 call. Not yet announced.
The rule that moves broker economics hardest — commission caps, administrative payments, TPMO restrictions. CY2027's proposed rule set the pattern.
Nov–Dec, date TBAProjected from the 2026-08-25 call. Not yet announced.
Projected from the 2026-10-14 call. Not yet announced.
Projected from the 2026-10-15 call. Not yet announced.
Projected from the 2026-10-21 call. Not yet announced.
Proposed rates, risk-model changes, and normalisation. CY2027's Advance Notice landed Jan 26, 2026 and proposed excluding chart reviews from risk scoring.
late January, date TBA · source ↗Projected from the 2026-10-27 call. Not yet announced.
Projected from the 2026-10-28 call. Not yet announced.
Projected from the 2026-10-29 call. Not yet announced.
Projected from the 2026-10-29 call. Not yet announced.
Projected from the 2026-11-03 call. Not yet announced.
CY2027 came in at a 2.48% benchmark increase, announced Apr 6, 2026. This is the number the 2028 bids are built on.
early April, date TBA · source ↗Bids are locked here. Everything carriers say on Q1 2027 calls about 2028 margin is a pre-commitment to this date.
first Monday in JuneQ3 payer calls run mid-October to early November and land on top of Star Ratings and the opening of AEP. Dates for that cycle are not yet announced.