This edition looks at the collective financial performance of a large group of MCOs across the 2018-2021 timeframe. Our key findings are that the health plans performed quite well during the COVID-impacted years of 2020 and 2021 – better than they had performed during the pre-COVID years of 2018 and 2019. Revenues and operating margins grew particularly sharply across these health plans’ Medicaid line of business during 2020 and 2021.