Several health insurer stocks tumbled Tuesday following a proposal from the Centers for Medicare and Medicaid Services that would raise payments to insurers less than expected next year.

The proposal would eliminate the financial motivation insurers have to mine their members’ charts for additional diagnoses. Regulators also proposed a flat rate update for 2027, prompting anger from insurers.

UnitedHealth Group (NYSE:UNH) reported fourth-quarter and full-year 2025 earnings this morning that fell slightly short of analyst estimates, while offering guidance for the coming year that indicated a roughly 2% decline year-over-year due to its right-sizing efforts payment increase for Medicare Advantage plans in 2027 that was far below what was anticipated.

Millions of Americans got a nasty reminder this month of just how costly health care coverage is.

In part 1 of this article below, we discuss the history of and legal issues regarding the interstate sale of insurance and sec. 1333 of the ACA. In part 2, we outline our view of what sec. 1333 can an