New York, February 9, 2026, 11:39 EST — Regular session
UnitedHealth Group Incorporated (UNH) inched up 0.3% to $277.44 by late morning Monday. Shares moved within a range of $273.88 to $278.36.
Even a tiny change like that matters, since UNH’s fortunes are still tightly linked to Medicare Advantage—those private senior and disability plans shaped by federal payment policies. The Centers for Medicare & Medicaid Services has floated its 2027 Advance Notice, flagging just a 0.09% bump in average payments. Comments are open through Feb. 25, and the agency is due to lock in the final rate by April 6. 1
Stocks in the U.S. got off to a mixed start this morning. Investors kept an eye on interest rate signals following last week’s tech slump. The Dow slipped roughly 0.3%. The S&P 500 was little changed, while the Nasdaq managed a slight uptick, according to Reuters. 2
UnitedHealth posted 2025 revenue of $447.6 billion on Jan. 27, a 12% increase, and projected 2026 revenue to top $439.0 billion with adjusted earnings expected to exceed $17.75 per share. CEO Stephen Hemsley, in prepared comments, said the company “confronted challenges directly” and wrapped up 2025 “as a much stronger company.” 3
Investors didn’t like the news: shares dropped up to 19% on Jan. 27 after the company signaled its first revenue drop since 1989, according to Reuters. Hemsley talked up noticeable “momentum” inside the company, but UnitedHealthcare chief Tim Noel flagged “meaningful benefit reductions” coming. Morningstar’s Julie Utterback told investors looking for a fast turnaround they “may have to wait longer than hoped.” For 2026, UnitedHealth projected its medical care ratio—how much of premiums go toward medical costs—at roughly 88.8%, an important profit metric for the sector. 4
UnitedHealth isn’t alone when it comes to rising costs. Molina Healthcare on Feb. 6 slashed its 2026 profit outlook, blaming higher medical expenses, and announced it will walk away from Medicare Advantage prescription drug plans in 2027. CEO Joseph Zubretsky called 2026 a “trough year” for Medicaid margins. 5
UNH faces a tough setup right now: reimbursement remains squeezed, and care utilization just won’t cool off. Insurers could try to prop up margins by cutting back on benefits or pulling back from certain markets—though moves like that risk slowing down membership gains and drawing extra attention.
Scrutiny isn’t new. Back in January, a Senate committee report accused UnitedHealth of employing aggressive risk-adjustment coding tactics—essentially, a method that increases payments for plans serving sicker Medicare Advantage patients—to ramp up reimbursement. The company pushed back, saying it disagreed with the report’s take and insists its programs follow regulations. 6
No obvious company news to kick things off Monday, so traders will be eyeing the U.S. macro calendar. First up: the January Employment Situation lands at 8:30 a.m. ET on Feb. 11. Just two days later, January’s Consumer Price Index hits at 8:30 a.m. ET on Feb. 13, per Labor Department schedules. 7
