Key Takeaways CVS Health's MBR fell to 92.8% in Q3 2025 as prior PDR effects and gov business gains lifted results.CVS' improvement stemmed from nonrecurring PDR, favorable prior period development and better gov performance.CVS expects about 91% full-year 2025 MBR, keeping a prudent view of medical cost trends through year-end.CVS Health’s (CVS) Health Care Benefits segment recorded a medical benefit ratio (MBR) of 92.8% in the third quarter of 2025 compared with 95.2% in the prior year. The metric shows t ...