The Trump administration plans to increase payments to Medicare Advantage plans by less than 0.1% on average next year, much less than the industry expected[1]. Wall Street analysts had expected a 4% to 6% increase, sending shares of the largest Medicare Advantage insurers -- UnitedHealth Group, Humana and CVS Health -- down more than 9% in over-the-counter trading[1]. In addition to low payments, the Mehmet Oz administration is proposing other restrictions, such as tightening the way insurers code their members' illnesses[1]. These regulatory changes are likely to spark a backlash from insurers, who have criticized recent changes to the Medicare Advantage program, arguing that their profit margins have been hurt[1]. The changes signal that the administration is interested in scaling back Medicare Advantage despite approving a 5.1% payment increase for 2026 in April 2025[2].