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UnitedHealthcare, Humana Cancel Medicare Advantage Plans for 1M

By Drooid · · How we work

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Story summary
  • UnitedHealthcare and Humana are canceling Medicare Advantage plans, affecting nearly one million members.
  • UnitedHealth Group says about 390,000 members will lose coverage due to unexpectedly high usage and rising costs.
  • Humana CFO Celeste Mellet reports roughly 600,000 members, about 8% of enrollees, will lose care.
  • Both insurers cite a two-year contraction driven by a spike in utilization and medical expenses.