The SG&A ratio improvement is really what caught my atention here. If they can maintain that trajectory while scaling to 6M members, the operting leverage becomes huge. The ACA subsidy extension feels likly given the political pressure, and that removes a major overhang. The path to 5% margins seems doable with their tech platform advantage over legacy insurers.
The SG&A ratio improvement is really what caught my atention here. If they can maintain that trajectory while scaling to 6M members, the operting leverage becomes huge. The ACA subsidy extension feels likly given the political pressure, and that removes a major overhang. The path to 5% margins seems doable with their tech platform advantage over legacy insurers.