Humana’s stock keeps falling amid fears that Medicare Advantage problems will last into next year

Humana's stock keeps falling amid fears that Medicare Advantage problems will last into next year

Shares of Humana Inc. extended their plunge toward a near two-year low on Friday, as some Wall Street analysts expressed concern that there isn’t a fast fix to the health insurance services company’s Medicare Advantage woes.

The stock HUM, -1.19% lost as much as 4.4% in intraday trading, before paring some losses to be down 1.5% in afternoon trading, putting them on track for the lowest close since April 2020.

On Thursday the stock was rocked for a 19.4% loss, the biggest one-day selloff since it plummeted 19.5% on Feb. 26, 2009, after the company said it expected 2022 net membership growth for its individual Medicare Advantage (MA) products of 150,000 to 200,000, down sharply from its previous growth estimate of 325,000 to 375,000, due primarily to higher-than-anticipated terminations during the annual election period.

At the Goldman Sachs Healthcare CEOs conference on Thursday, Chief Executive Bruce Broussard…

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