00:00 Speaker A
We are watching some shares of insurers in after-hours trading. United Health, Humana, CVS Health, they’re all soaring. The US government will be paying private Medicare Advantage plans more money next year than it had originally proposed. Those payments will rise by an average of roughly 5%. The Biden administration had proposed an increase of just over 2%, and that increase could generate more than $25 billion in additional revenue for the industry. The Centers for Medicare and Medicaid Services saying in a statement that the move is ensuring that Medicare Advantage continues to offer access to critical services here in an accountable manner, further strengthening the program’s ability to serve beneficiaries. So again, these stocks are on the rise.
