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  "notes": "The chart illustrates the reconciliation of Medical Cost Ratio (MCR) adjustments.",
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      "text": "Q1 2020 results reflect stable, scalable performance while ignoring expected improvements via product iteration. In general, while not dispositive of full-year performance, Q1 results are typically in line with full-year results within Medicare Advantage. While the COVID-19 pandemic impacted the last half of March, financial savings and costs generally resulted in a net neutral effect for Clover during that period.",
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      "text": "(1) We saw earlier and more long-term script refills in anticipation of the pandemic. (2) As an illustrative example, Humana's FY2019 Benefits / Premiums resulted in a loss ratio of 85.6%. Humana's Q1 2019 Benefits / Premiums resulted in a loss ratio of 86.2%.",
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