Humana Sinks, Driving Down Insurers, After Cutting Medicare Outlook

Humana Inc. shares plunged the most intraday in 13 years, dragging down rivals’ stocks, after the health insurer cut its forecast for Medicare membership growth by about half.

Humana expects to add 150,000 to 200,000 new members in Medicare Advantage plans this year, down from an earlier estimate of 325,000 to 375,000, the company said Thursday in a filing. The insurer cited higher-than-expected terminations during the recent enrollment window for 2022 Medicare coverage.