The payer formerly anticipated adding between 325,000 and 375,000 new Medicare Advantage members in 2022, but is now cutting the range down to between 150,000 and 200,000 new members.
As the second largest Medicare Advantage payer in the country, the news caused the company’s stock to drop to its lowest point since March 2020, according to Bloomberg. The grim market outlook is causing other payers’ stocks to drop as well, according to a Seeking Alpha report.
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