Heard on the Street Recap: Medicare Disadvantage

The health-insurance sector crumbled on Tuesday on news the Trump administration wants to hold Medicare rates almost flat next year. Shares in Humana closed down 21%, while UnitedHealth plunged 20% and CVS declined 14%. The Wall Street Journal reported that the Centers for Medicare and Medicaid Services proposed to hold payment rates to an average .09% increase next year, far below what the companies and Wall Street had expected.