The shares of UnitedHealth, Humana and other health insurers were clobbered on Tuesday after a preliminary payment proposal for Medicare Advantage fell way short of analyst expectations.
Shares of several big-name health care companies plunged after the Trump administration proposed nearly flat rates for Medicare Advantage insurers. In extended trading, Humana, CVS Health and UnitedHealth Group saw their shares slide by more than 10%.
The Trump Administration is proposing to keep Medicare payments to insurers roughly steady next year, the Wall Street Journal reported on Monday, noting the plan includes an average rate increase of just 0.09%.
LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana launches a $3 million scholarship fund for Xavier Ochsner College of Medicine to Expand Physician Workforce in Louisiana.
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