The U.S. has proposed an average rate increase of 0.09% in ​payments to private insurers next year for the Medicare Advantage plans they manage, the government said ‌on Monday, driving shares of the companies down more than 10%.

Breaking news on a report out of the Wall Street Journal that the Trump admin intends to keep medicare rates paid to insurers steady.

The ​Trump Administration ‌is proposing ‌to keep Medicare payments to ⁠insurers ‌roughly steady next ‍year, the Wall Street ​Journal reported ‌on Monday, noting the plan includes ⁠an average ​rate ​increase of just 0.

Shares of major U.S. health insurers fell sharply after the Trump administration proposed holding Medicare Advantage payment rates nearly flat for 2027—sending stocks lower as investors were broadly expecting an increase.

Health insurance stocks fell hard Tuesday morning as investors digested a CMS report proposing a lower-than-expected increase to 2027 Medicare Advantage plans.