Health Insurers Warn of Increased Costs Due to Surge in Surgeries

Humana has warned of a surge in medical costs this year due to higher-than-expected demand for surgeries and other medical procedures, following UnitedHealth's similar warning earlier this week. Pandemic-driven restrictions and hospital staffing shortages had led to long delays in elective procedures such as hip and knee replacements, especially among older adults at higher risk of contracting severe COVID-19. The warning wiped billions of dollars off the market value of health insurers on Wednesday, while lifting shares of medical device makers and hospital operators.