01:38 PM EDT, 04/02/2024 (MT Newswires) -- Health care stocks were declining Tuesday afternoon, with the NYSE Health Care Index falling 1.9% and the Health Care Select Sector SPDR Fund (XLV) dropping nearly 2%.

The iShares Biotechnology ETF (IBB) fell 2.2%.

In corporate news, Humana (HUM) shares tumbled more than 14%, UnitedHealth ( UNH ) shares dropped 7.8%, and CVS Health ( CVS ) shares were down 8.2% following the Centers for Medicare and Medicaid Services' declaration of a 3.7% average revenue boost for Medicare Advantage plans in 2025.