Management views the One Big Beautiful Bill Act, or OBBB, enacted in the United States in July 2025, as having established a new and stable policy floor for its programs. OBBB introduces approximately $1 trillion in federal Medicaid cuts over the next decade. Also, due to Medicaid eligibility verification every six months, administrative cost is likely to increase. The act also cuts ACA subsidies, which could reduce enrollment in individual marketplace plans. Centene holds roughly 23% market share in that segment. Yet this opens up the scope for developing new individual products and expanding into private segments to partially compensate for Medicaid losses.