Shares of Humana tumbled early Wednesday after the health insurer said a Medicare Advantage quality rating drop will hurt future bonus payments the corporate receives.

The insurer said the number of consumers currently enrolled in plans rated 4 stars or higher for 2025 is down 94% from this yr. Humana said the rating on a big, national insurance plan that incorporates 45% of Humana’s enrollment fell some extent to three.5 points.

Medicare Advantage plans are privately run versions of the federal government’s Medicare program mostly for people age 65 and older. An annual enrollment window for 2025 coverage starts Oct. 15. Shoppers may have until December 7 to choose coverage for next yr.

Humana Inc. said in a regulatory filing that it was talking to federal officials concerning the reduction. The corporate said it also is concentrated on improving its performance to regain its star rating.

Humana, one in all the largest providers of Medicare Advantage coverage, said the rankings drop is not going to affect its results or outlook for this yr and next. The corporate said it could explore all options to mitigate the revenue hit it expects to absorb 2026 from a drop in bonus payments on account of the rating change.

The Louisville, Kentucky, company’s stock shed nearly $60 in value before markets opened Wednesday. The worth dropped 21% to $219.88.

Shares had already fallen about 39% up to now this yr.