UnitedHealth Group (NYSE:UNH) plans to cut broker commissions on select Medicare Advantage plans, Bloomberg News reported, citing documents.
The insurance giant is making changes to its Medicare Advantage plans amid rising costs that have negatively affected its financial situation and share prices. Over the past few months, the U.S. government has come up with stricter payment policies, impacting the company’s profit.
To help manage the situation, the company plans to cut broker commissions on certain Medicare Advantage plans, the report mentioned.
The company has been under the radar of investors recently as a criminal probe, leadership change, and withdrawal of its financial outlook made headlines.