Centene's Commercial segment delivered a health benefits ratio of 79.2% in second quarter 2026, down sharply from 90.6% a year earlier. The improvement reflects better Marketplace pricing and risk adjustment revenue transfers that align with the higher acuity of the company's Marketplace membership. Commercial revenues fell 7% to $9.36 billion as Marketplace membership dropped to 3.49 million from 5.86 million. The segment also benefited from tighter SG&A discipline, with the company citing reduced Marketplace membership as a factor since that business operates at a higher expense ratio

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