UnitedHealth shares tank as insurer cuts forecast on higher medical care costs
The forecast cut also dragged down shares of other health insurers and pushed the U.S. Dow Index futures into negative territory. Elevance, CVS Health, Cigna, Centene and Humana all fell between 4% and 9%. "UnitedHealth Group grew to serve more people more comprehensively but did not perform up to our expectations, and we are aggressively addressing those challenges to position us well for the years ahead," CEO Andrew Witty said.