Shares of U.S. health insurers fell after the Biden administration didn't boost payments for private Medicare plans as much as the insurance industry and investors had hoped. The announcement puts more pressure on insurers already grappling with high medical costs and uncertainty around claims processing after the ransomware attack at UnitedHealth Group's tech unit.
The Centers for Medicare and Medicaid Services late Monday said that government payments to Medicare Advantage plans are expected to rise 3.7% year over year.Signage is displayed on a Humana Inc. office building in Louisville, Kentucky, U.S., on Saturday, Feb. 2, 2019. Humana is scheduled to release earnings figures on February 6.'s stock fell more than 10%. The health-care giant is far more dependent on those private Medicare plans, known as Medicare Advantage, than its rival