New York, Feb 26, 2026, 12:03 EST — Regular session
UnitedHealth Group (UNH) dropped $7.58, or roughly 2.6%, to settle at $284.20 on Thursday. The stock moved in a band from $281.50 to $291.70 during the session.
The timing hits UnitedHealth where it hurts: Medicare Advantage. That’s the private-sector version of the U.S. government’s senior health program, and it’s long been a cornerstone for the managed-care giant. But UnitedHealth’s enrollment in Medicare Advantage slid more than 5% this year from a year earlier, according to Chartis, which crunched federal data. Still, it’s not like they’ve lost their grip—they’re still the biggest, with almost 9.3 million members. “Some may view that as a final straw,” said Alexis Levy, a senior partner at HealthScape Advisors who helped write the analysis. 1
Enrollment and pricing numbers have become shorthand for traders guessing at 2027 margins, particularly while insurers pull benefits or exit counties they’ve decided aren’t worth sticking with. After a tough period for the sector, the stock has shown a habit of swinging hard on even minor data shifts.
UnitedHealth’s board has signed off on a $2.21 per-share cash dividend for the quarter, the company announced Wednesday. The payout heads to shareholders of record as of March 9, with distribution set for March 17. 2
The insurer’s latest securities filing shows it’s put tougher restrictions on a stock option for Chief Executive Stephen Hemsley. After the three-year “cliff” vesting—where the option vests in full at the end of three years—Hemsley still can’t flip the shares right away. He’s now required to hold any net shares from exercising that option for two more years, locked in until May 14, 2030, unless he dies or becomes disabled, according to the filing. 3
Managed-care stocks turned in a mixed session. Humana slid nearly 4.5%, Elevance Health dropped by 2.1%. CVS Health, though, edged up close to 0.5%.
Plan exits and forced switches could keep stirring up political tensions. Johns Hopkins professor Mark Meiselbach pointed out in a note linked to a recent JAMA analysis that “New plans may not cover all the same services,” leaving retirees scrambling for replacement coverage after insurers drop Medicare Advantage options. 4
Monthly enrollment numbers tend to jump around. Shifts like these usually trace back to plan pricing, tweaks in benefit design, or exits at the county level — not necessarily a big shift in demand.
Now, all eyes turn to Washington. The CMS’s comment window for its 2027 Medicare Advantage proposals closed at 11:59 p.m. ET on Feb. 25, and the final 2027 rate announcement is due out by April 6. That date has effectively become a deadline for the sector. 5
