Medicare Advantage
Medicare Advantage membership was 7.6 million at Sep 30, 2026; segment operating margin was 3.3% in Q3 2026.
The numbers
What it is
Privately run Medicare plans sold to seniors within UnitedHealthcare's Medicare & Retirement segment. CMS pays a fixed monthly rate per member and the company keeps the difference between that rate and its medical costs.
Why it matters to the stock. Medicare Advantage medical cost trends and CMS rate decisions drive most of the swings in UNH's earnings guidance. Member growth or losses show up directly in UnitedHealthcare revenue.
News
UnitedHealth Q3 2026 adjusted EPS $4.69 vs $2.92 a year ago; 2026 adjusted EPS floor raised to $20.50
UnitedHealth reported third-quarter 2026 revenue of $112.7 billion, slightly below $113.2 billion a year earlier, and adjusted EPS of $4.69 against $2.92.
CMS releases 2027 Medicare Advantage Star Ratings; 71% of enrollees in 4-star-plus contracts
CMS published the 2027 Medicare Advantage and Part D Star Ratings on October 8, 2026.
UnitedHealthcare unveils 2027 Medicare plan lineup focused on $0 premiums and lower costs
UnitedHealthcare said its 2027 Medicare plans will focus on affordability and simpler benefits.
Analyst says UnitedHealthcare looks most exposed in draft 2027 star-ratings cutpoints
CMS released draft 2027 star-rating cutpoints to plans in early September 2026.
UnitedHealth Q2 2026 adjusted EPS $6.38 vs $4.08; full-year adjusted EPS guidance raised to $19.50-$20.00
UnitedHealth reported second-quarter 2026 revenue of $112.0 billion and adjusted EPS of $6.38, up from $4.08 a year earlier.
UnitedHealth publishes independent review findings: 23 recommendations, all implemented
UnitedHealth released an update to its Independent Review Program covering risk assessment, care services management, prescription drug manufacturer discount practices and HouseCalls diagnosis coding.
UnitedHealthcare drops most medical prior authorizations for rural care
UnitedHealthcare said rural providers will be exempt from most medical prior authorization requirements that apply today, with the change scheduled for fall 2026.
CMS finalizes 2.48% Medicare Advantage payment increase for 2027
CMS finalized a net average increase of 2.48% in payments to Medicare Advantage plans for 2027, worth more than $13 billion.
UnitedHealth shares fall about 19% intraday after weak 2026 revenue outlook
UnitedHealth stock dropped sharply on the day it issued its 2026 outlook, down about 19% in midday trading.
UnitedHealthcare starts accelerated Medicare Advantage payments to rural hospitals
UnitedHealthcare launched a six-month pilot that speeds Medicare Advantage claim payments to independent rural hospitals in Oklahoma, Idaho, Minnesota and Missouri.