New York, Feb 23, 2026, 15:56 EST — Regular session.
- UnitedHealth shares slipped roughly 2.5% late in the afternoon session.
- The stock trails a jittery market, with investors sizing up policy risk tied to Medicare Advantage.
- This week’s CMS comment deadline is putting reimbursement squarely in the spotlight.
Shares of UnitedHealth Group slid roughly 2.5% to $282.85 late Monday, with the stock fluctuating between $291.70 and a low of $282.33 during the session. Roughly 5.6 million shares changed hands.
U.S. stocks slumped across the board, shaken by renewed trade policy fears after the Supreme Court weighed in on tariffs and President Donald Trump issued new threats. “Obviously, the extra layer of uncertainty … isn’t helping,” said Ross Mayfield, an investment strategy analyst at Baird, who also pointed to the tape showing signs of an AI-driven selloff picking back up. (Reuters)
Medicare Advantage continues to be the real swing factor for UnitedHealth. It’s a space where Washington still holds the keys: payment rates get set by the government. For 2027, CMS is putting forward a net average increase of just 0.09%, also tweaking its risk-adjustment model—these changes mean payments to insurers like UnitedHealth will shift depending on how sick their members are, based on the diagnostic records. The agency is taking comments through 11:59 p.m. ET on Feb. 25. (Centers for Medicare & Medicaid Services)
Peers headed in different directions. Humana slipped roughly 4.3% and Elevance dropped 1.7%. Cigna, on the other hand, tacked on 1.1%, while CVS Health edged up 0.8% late in the day.
The group hasn’t shaken off the late-January forecast, with management at the time projecting 2026 profit just ahead of consensus but warning on a slower Medicaid rebound and flagging 2026 revenue landing short of Wall Street’s call. That same day, investors got another headache: fresh concern that 2027’s nearly flat Medicare Advantage rates might trap margins for the whole managed care sector. (Reuters)
Still, insurers aren’t out of the woods. CMS has made it clear it’s targeting so-called “chart reviews” that critics argue inflate risk scores, and even minor technical tweaks could reshape the math on benefits and pricing before 2027. (MarketWatch)
Looking forward, the calendar is stacked—Nvidia earnings are on deck, and Trump’s State of the Union, where tariffs are likely to get airtime, is coming up. Investors are eyeing both events, with volatility likely to stick around. (Investopedia)
Investors in managed-care names now look ahead to CMS’s final 2027 rate notice, set for release by April 6. That ruling is likely to shape how UnitedHealth and competitors are valued as spring approaches. (Reuters)
