Shares of large Medicare plan providers Humana, CVS Health and UnitedHealth Group plunged in extended trading.

Ever since Larry Wilkewitz retired more than 20 years ago from a wood products company, he's had a commercial Medicare Advantage plan from the insurer Humana. But two years ago, he heard about Peak Health,

The Trump administration’s pay bump is not a cut to the program but rather a “right-sizing” of taxpayer-funded insurance, said Carrie Graham, the director of the Medicare Policy Initiative at Georgetown's Center on Health Insurance Reform. The for-profit insurance companies are “not going to be forced to cut benefits,” she added.

The CMS has proposed several key changes for 2027, to make sure Medicare "works better for the people it serves."

Trump’s near-flat Medicare Advantage rate sparks insurer selloff, raising fears of benefit cuts for 35 million seniors.

Paying into the Medicare system doesn't guarantee free health insurance in retirement; it comes with deductibles and premiums like standard health insurance. Unfortunately, both are going up this year.

The Trump administration on Tuesday announced the next round of prescription drugs up for Medicare price negotiations.