Health insurer stocks slide as final Medicare Advantage rates disappoint
Publishing timestamp: 2024-04-02 11:19:11
Summary
U.S. health insurers' shares fell after the Biden administration did not increase payments for private Medicare plans as much as expected, putting pressure on insurers already dealing with high costs and uncertainty. Meanwhile, Viking Therapeutics stock jumped on promising weight loss pill data, and Amgen is entering the weight loss drug market. Medicare Advantage plans are expected to see a 3.7% increase in government payments, but insurers and analysts note a slight decline after certain assumptions are considered.
Sentiment: NEGATIVE
Tickers: CVS, ELV, UNH, HUM, CNC,
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