Humana Inc. (HUM) shares have plummeted $58 in premarket trading to a new 52-week low of $390, down from an original buy price of $510. The company's warning that high medical costs may negatively impact its 2024 forecast has caused shares to slump and has had a knock-on effect on other Medicare Advantage insurers, notably after UnitedHealth Group Inc. (UNH) reported a higher than expected MLR. Employers are also contending with stricter legal requirements to prevent overpriced health insurance expenditures, with financial repercussions for non-compliance.
Humana and Other Insurers Bet Big on Medicare Advantage. Now the Risks Are Coming Into Focus. https://t.co/TkCBi5ARVl
$HUM warning elevated Q4 MLR will hit results is hitting Medicare Advantage players today... about one week after $UNH reported a higher than expected MLR... https://t.co/MhqOnT3Nvs https://t.co/AXRPW27SCE
$HUM warns high medical costs may hit 2024 forecast, shares slump https://t.co/IiYuPUxqFZ
$HUM | Humana new 52-week low https://t.co/H2zsXAIXiK
$HUM now -$65... can't make this up. @dougkass https://t.co/IWPptcpY1R
Employers are facing stronger legal requirements to ensure they aren't wasting their workers' money on overpriced health insurance, at the growing risk of financial consequences. https://t.co/SWdy9gkBMP
$HUM is down another $58 in premarket! Trading at $390, down from original buy at $510. Shades of $MRNA. The smugness/confidence and lack of accountability in the business media has hit new depths. https://t.co/WfH7aL3wi7 @ScottWapnerCNBC @halftime @dougkass @KeithMcCullough