Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program
Published . Updated .
Key takeaways
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Directly affected
- PFS Provident Financial Services+1.8% 30d
Named in this report.
Indirectly affected
- XLV Health Care Select Sector SPDR
Health Care Select Sector SPDR: it holds health insurers and care providers. Linked by “medicare” (health insurers and care costs) in this story.
- IHF iShares U.S. Healthcare Providers ETF+8.1% 30d
iShares U.S. Healthcare Providers ETF: it holds health insurers and care providers. Linked by “medicare” (health insurers and care costs) in this story.
- TIP iShares TIPS Bond ETF-0.3% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- UNH UnitedHealth Group+4.3% 30d
UnitedHealth Group (hospital and medical service plans): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story.
- ELV Elevance Health+5.8% 30d
Elevance Health (hospital and medical service plans): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story.
- CI The Cigna Group+7.0% 30d
The Cigna Group (hospital and medical service plans): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story.
- CVS CVS Health-3.7% 30d
CVS Health (drug stores and proprietary stores): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story.
- WMT Walmart+20.2% 30d
Walmart (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| PFSNo price data for this ticker | — | — | — | — | — | — | — |
| XLVNo price data for this ticker | — | — | — | — | — | — | — |
| IHFNo price data for this ticker | — | — | — | — | — | — | — |
| TIPNo price data for this ticker | — | — | — | — | — | — | — |
| UNHNo price data for this ticker | — | — | — | — | — | — | — |
| ELVNo price data for this ticker | — | — | — | — | — | — | — |
| CINo price data for this ticker | — | — | — | — | — | — | — |
| CVSNo price data for this ticker | — | — | — | — | — | — | — |
| WMTNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
This final rule addresses: changes to the physician fee schedule (PFS); other changes to Medicare Part B payment policies to ensure that payment systems are updated to reflect changes in medical practice, relative value of services, and ch…
Source: Federal Register
Congressional trades in the stocks in this story
- Rep. Maria Elvira Salazar sold Unitedhealth Group (UNH), worth $1,001 - $15,000 on 24 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Kevin Hern sold Unitedhealth Group (UNH) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 42 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Unitedhealth Group (UNH) (jointly held), worth $15,001 - $50,000 on 10 Sep 2026. That is 55 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Cigna Group (CI) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Cigna Group (CI) (held by a dependent child), worth $1,001 - $15,000 on 11 Sep 2026. That is 54 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Cigna Group (CI) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 61 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Cvs Health (CVS) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 61 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Cvs Health (CVS) (held by a spouse), worth $1,001 - $15,000 on 24 Aug 2026. That is 72 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Jonathan Jackson sold Walmart (WMT) (jointly held), worth $50,001 - $100,000 on 28 Sep 2026. That is 37 days before publication. Filed 19 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 40 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLV)
Companies mentioned with this story
- XLV Select Sector Spdr Tr
For “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program,” Select Sector Spdr Tr (XLV) is linked, with no stored direction, medium confidence. Reason on file: Health Care Select Sector SPDR: it holds health insurers and care providers. Linked by “medicare” (health insurers and care costs) in this story
- IHF Ishares U.S. Healthcare Providers Etf
In “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program,” Ishares U.S. Healthcare Providers Etf (IHF) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Healthcare Providers ETF: it holds health insurers and care providers. Linked by “medicare” (health insurers and care costs) in this story
- UNH Unitedhealth Group
Unitedhealth Group (UNH) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program.” Reason on file: UnitedHealth Group (hospital and medical service plans): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story
- ELV Elevance Health
Elevance Health (ELV) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program.” Reason on file: Elevance Health (hospital and medical service plans): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story
- CI Cigna Group
Cigna Group (CI) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program.” Reason on file: The Cigna Group (hospital and medical service plans): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story
- CVS Cvs Health
Cvs Health (CVS) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program.” Reason on file: CVS Health (drug stores and proprietary stores): health insurers' costs move with medical prices and policy. Linked by “medicare” (health insurers and care costs) in this story
Select Sector Spdr Tr (XLV)
Select Sector Spdr Tr (XLV) is the company in “Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program,” the 4 Nov 2026 this story story.
What ties Select Sector Spdr Tr (XLV) to the headline is this: Health Care Select Sector SPDR: it holds health insurers and care providers. Linked by “medicare” (health insurers and care costs) in this story
Ishares U.S. Healthcare Providers Etf (IHF) is here too. Its reason reads: iShares U.S. Healthcare Providers ETF: it holds health insurers and care providers. Linked by “medicare” (health insurers and care costs) in this story
Dates and price levels for Select Sector Spdr Tr (XLV)
IHF traded between 54.17 and 60.46 across 20 sessions. The latest close on file is 59.98. UNH traded between 372.90 and 426.47 across 20 sessions. The latest close on file is 394.22.
How strong the case is around Select Sector Spdr Tr (XLV)
54 out of 100
“Medicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program” scores 54 out of 100. The score uses 2 sources, and 6 linked companies.