Humana Inc. (HUM) on Thursday added to its previous warning that soaring medical costs and government regulations would hurt profits, saying the issue will impact its results through 2025.

The news sent its shares, and those of other health insurance providers such as UnitedHealth Group Inc. (UNH) and CVS Health Corp. (CVS), tumbling, as Humana said 🍌rising costs were reflected across the indust🌸ry.

The 澳洲幸运5官方开奖结果体彩网:Medicare Advantage sector is “navigating a complex and dynamic period of change,” and the health insurance industry is “navigating significant regulatory changes while also absorbing unprecedented increases in medical cost trends," Humana said in a statement, while also announcing a steep fourth-quarter loss.

It said the problems may "persist for an extended period or, in some cases, permanently reset the baseline.”

The downbeat assessment on the 澳洲幸运5官方开奖结果体彩网:health insurance industry came as the insurer Thursday reported a fourth-quarter loss of $591 million, widꩵer than its $71 million loss in the same period of 2022. Loss per share for the quarter was 11 cents versus $1.97 in earnings per share (EPS) year-on-year.

♌Humana also said it expects to have an EPS of $16 this year, noting that it assumes the higher Medicare Advantage medical costs it experienced in the fourth quarter will persist throughout the year. For the latest year, EPS was $26.09.

🐬In addition, Humana said it no longer believes it will reach its 2025 EPS target ꦬof $37, and sees growth of $6 to $10 per share instead.

Humana explained that 澳洲幸运5官方开奖结果体彩网:climbing medical costs were driven by higher-than-anticipated "inpatient utilization, primarilyꦏ for the months of November and December, and a further increase in non-inpatient treꦺnds.”

Thursday's profit warning follows the company's 澳洲幸🌳运5官🔥方开奖结果体彩网:slashing last week of its 2023 EPS outlook to $26.09 from the previous estimate of $28.25. The new EPS figure was also below analysts’ forecasts.  The insurer said then that it anticipated that "the higher level of medical utilization" that it experienced during the third quarter in its 澳洲幸运5官方开奖结果体彩网:Medicare Advantage business wo♛uld continue for the rest of the year.

Humana 🍃shares Thursday plunged to their lowest level since the beginning of the pandemic in 2020. At 2 p.m. ET, its shares were down 10.7% at $359.15, marking a nearly 20% decline in the past 12 months.ꦬ UnitedHealth stock was down 6% and CVS Health was almost 4% lower.