More peo­ple are us­ing their health ben­e­fits, send­ing in­sur­ers CVS Health and Hu­mana stocks tum­bling

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Health in­sur­ance gi­ants CVS Health and Hu­mana both re­port­ed high­er med­ical costs in their Medicare Ad­van­tage busi­ness­es dur­ing earn­ings Wednes­day, send­ing shares down.

Health in­sur­ers have had to deal with ris­ing med­ical costs in re­cent months due to in­fla­tion and as old­er Amer­i­cans line up for surg­eries that were de­layed dur­ing the pan­dem­ic, among oth­er rea­sons. That, in turn, can lead to high­er health­care pre­mi­ums for cus­tomers.

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