UnitedHealth plans to cut Medicare plan commissions: report

UnitedHealth Group (NYSE:UNH) plans to cut broker commissions on select Medicare Advantage plans, as reported by Bloomberg News 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 recent months, the government has come up with stricter government payment policies, impacting the profit of companies like UnitedHealth.

To help manage these expenses, 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 withdrawing of outlook made headlines.