Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services
Published . Updated .
Medicare is testing the use of AI to conduct prior authorizations to target wasteful medical spending
Directly affected
- No company is named in this report.
Indirectly affected
- QQQ Invesco QQQ-2.6% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- AIQ Global X Artificial Intelligence & Technology ETF-0.9% 19d
Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- 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.
- UNH UnitedHealth Group+7.8% 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+0.6% 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.
- MSFT Microsoft+4.0% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- CI The Cigna Group+2.8% 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.
- GOOGL Alphabet-21.2% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| QQQ | -2.90% | -1.86% | base | -1.64% | -4.83% | after close | after close |
| AIQ | -3.55% | -2.24% | base | -2.24% | -6.67% | after close | after close |
| XLV | +0.87% | -0.27% | base | +2.39% | +2.85% | after close | after close |
| UNH | +4.38% | +0.84% | base | +0.95% | -0.03% | after close | after close |
| ELV | +7.48% | +4.11% | base | +1.85% | +1.37% | after close | after close |
| MSFT | -2.00% | +0.06% | base | -0.35% | -1.93% | after close | after close |
| CI | +7.03% | +3.68% | base | +1.14% | +1.12% | after close | after close |
| GOOGL | -0.36% | -2.63% | base | -12.85% | -13.97% | after close | after close |
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.
Market Call
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Medicare is testing the use of AI to conduct prior authorizations to target wasteful medical spending
Source: MarketWatch
Price since this story was published: Invesco Qqq Trust, Series 1 (QQQ)
Since the first closing price after “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Invesco Qqq Trust, Series 1 (QQQ) is -0.00%.
| Company | When | Move | Status |
|---|---|---|---|
| Global X Fds (AIQ) | that day | -2.24% | final price |
| Global X Fds (AIQ) | the next day | -6.67% | final price |
| Global X Fds (AIQ) | three days earlier | -2.24% | final price |
| Global X Fds (AIQ) | five days earlier | -3.55% | final price |
| Cigna Group (CI) | that day | +1.14% | final price |
| Cigna Group (CI) | the next day | +1.12% | final price |
| Cigna Group (CI) | three days earlier | +3.68% | final price |
| Cigna Group (CI) | five days earlier | +7.03% | final price |
| Elevance Health (ELV) | that day | +1.85% | final price |
| Elevance Health (ELV) | the next day | +1.37% | final price |
| Elevance Health (ELV) | three days earlier | +4.11% | final price |
| Elevance Health (ELV) | five days earlier | +7.48% | final price |
| Alphabet (GOOGL) | that day | -12.85% | final price |
| Alphabet (GOOGL) | the next day | -13.97% | final price |
| Alphabet (GOOGL) | three days earlier | -2.63% | final price |
| Alphabet (GOOGL) | five days earlier | -0.36% | final price |
| Microsoft (MSFT) | that day | -0.35% | final price |
| Microsoft (MSFT) | the next day | -1.93% | final price |
| Microsoft (MSFT) | three days earlier | +0.06% | final price |
| Microsoft (MSFT) | five days earlier | -2.00% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | that day | -1.64% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | the next day | -4.83% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | three days earlier | -1.86% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | five days earlier | -2.90% | final price |
| Unitedhealth Group (UNH) | that day | +0.95% | final price |
| Unitedhealth Group (UNH) | the next day | -0.03% | final price |
| Unitedhealth Group (UNH) | three days earlier | +0.84% | final price |
| Unitedhealth Group (UNH) | five days earlier | +4.38% | final price |
| Select Sector Spdr Tr (XLV) | that day | +2.39% | final price |
| Select Sector Spdr Tr (XLV) | the next day | +2.85% | final price |
| Select Sector Spdr Tr (XLV) | three days earlier | -0.27% | final price |
| Select Sector Spdr Tr (XLV) | five days earlier | +0.87% | final price |
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 35 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 36 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 49 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 27 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 29 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 31 days before publication. Filed 2 Oct 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 34 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 48 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 55 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 45 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 55 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 63 days before publication. Filed 12 Sep 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 Invesco Qqq Trust, Series 1 (QQQ)
Companies mentioned with this story
- QQQ Invesco Qqq Trust, Series 1
In “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence. Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- AIQ Global X Fds
In “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Global X Fds (AIQ) is linked, with no stored direction, medium confidence. Reason on file: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- XLV Select Sector Spdr Tr
Select Sector Spdr Tr (XLV) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services.” 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
- UNH Unitedhealth Group
Unitedhealth Group (UNH) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services.” 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
In “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Elevance Health (ELV) is linked, with no stored direction, medium confidence. 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
- MSFT Microsoft
For “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Microsoft (MSFT) is linked, with no stored direction, medium confidence. Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- CI Cigna Group
For “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Cigna Group (CI) is linked, with no stored direction, medium confidence. 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
- GOOGL Alphabet
For “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services,” Alphabet (GOOGL) is linked, with no stored direction, medium confidence. Reason on file: Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
Invesco Qqq Trust, Series 1 (QQQ)
The 29 Oct 2026 story “Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services” names Invesco Qqq Trust, Series 1 (QQQ) because of this story.
What ties Invesco Qqq Trust, Series 1 (QQQ) to the headline is this: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
A second company, Global X Fds (AIQ), is listed for a different reason: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
Dates and price levels for Invesco Qqq Trust, Series 1 (QQQ)
AIQ traded between 61.70 and 67.40 across 18 sessions. The latest close on file is 62.94. QQQ traded between 683.47 and 762.84 across 20 sessions. The latest close on file is 690.51. XLV traded between 166.19 and 168.02 across 1 sessions. The latest close on file is 167.68.
What the saved facts support for Invesco Qqq Trust, Series 1 (QQQ)
46 out of 100
“Medicare used AI to pre-approve patient care, and it immediately led to a large drop in medical services” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.