Becker Business Podcast – Episode Summary

Episode: The 4 Largest Publicly Traded Payers & Their YTD Stock Market Returns 9-10-25
Host: Scott Becker
Date: September 9, 2025

Episode Overview

Scott Becker delivers a succinct analysis of the year-to-date (YTD) stock market performance of the four largest publicly traded health insurance payers. He highlights which companies are winning and losing in the 2025 market, adding context with brief commentary on major Medicaid-focused payers and a rundown of the hardest-hit healthcare stocks this year.

Key Discussion Points & Insights

1. Performance of the Four Largest Publicly Traded Payers

(00:31 – 01:28)

• UnitedHealth Group

  • Largest payer by market cap.
  • Down 36% YTD
  • "United and Elevance losing" — Reflects major market headwinds for traditional insurance giants.

• CVS Health

  • Huge turnaround compared to previous years.
  • Up 56% YTD
  • “CVS Health having quite the rebound year” (00:43)

• Cigna Healthcare

  • Shows moderate recovery.
  • Up 9% YTD (corrected mid-sentence by Scott Becker)
  • “Cigna Healthcare is up 9% year to date.” (00:52)

• Elevance Health (formerly Anthem Blue Cross)

  • Suffering significant declines.
  • Down 16% YTD
  • Now facing similar challenges to UnitedHealth.

• Summary Quote:

  • “So again, those are the four largest publicly traded payers in their year to date stock returns. United and Elevance losing, CVS and Cigna winning.” (01:03)

2. Broader Market Context: Medicaid Managed Care Payers & Other Laggards

(01:05 – 01:28)

• Centene and Molina Healthcare

  • Two of the top Medicaid managed care payers.
  • Each down more than 50% YTD — among the year’s biggest healthcare underperformers.
  • “Both getting absolutely crushed.”
  • Included in the “list of the five health care stocks getting crushed.”

• Other Noteworthy Underperformers in Healthcare

  • Novo Nordisk
  • Moderna Healthcare
  • Acadia Healthcare
  • All grouped with Medicaid payers for poor YTD performance.

Notable Quotes & Memorable Moments

• UnitedHealth Group and Elevance Summary
  “United and Elevance losing, CVS and Cigna winning.” (01:03)

• Market Struggles for Medicaid Managed Care
  “Centene and Molina Healthcare are both getting absolutely crushed. They're each down more than 50% year to date.” (01:12)

Timestamps for Important Segments

• 00:31: Start of main content; Scott Becker introduces the focus on payer stock market returns.
• 00:34 – 01:03: Overview of the four largest payers and their YTD returns.
• 01:05 – 01:21: Discussion shifts to Centene, Molina, and other hard-hit healthcare stocks.

Summary Table — YTD Stock Market Returns

| Company | YTD Return | Notes | |---------------------|------------|----------------------------------------| | UnitedHealth Group | -36% | Largest payer, significant decline | | CVS Health | +56% | Major rebound year | | Cigna Healthcare | +9% | Modest gain after correction | | Elevance Health | -16% | Notable loss for the year | | Centene | -50%+ | Crushed among Medicaid payers | | Molina Healthcare | -50%+ | Similar heavy decline |

Tone & Style

Scott Becker maintains a concise, matter-of-fact tone, focusing on the numbers with quick, sharp commentary. There is no over-embellishment, sticking to business-like updates and succinct summaries.

For a rapid understanding of payer stocks in 2025, this episode succinctly covers the winners, the losers, and the magnitude of change—making it a valuable listen (or read) for healthcare investors, professionals, and business observers.