02:32 PM EST, 03/05/2024 (MT Newswires) -- UnitedHealth Group ( UNH ) and Elevance Health ( ELV ) shares were declining more than 1% in recent Tuesday trading as US health regulators urged insurance providers to relax health plan cost controls following a recent cybersecurity incident affecting health care operations nationwide.

The US Department of Health and Human Services said Tuesday it was coordinating efforts to avoid disruptions throughout the health care system, and is in touch with UnitedHealth ( UNH ) following the attack on the company's Change Healthcare unit in late February.

Change Healthcare has confirmed the attack and said it is working to address the matter in coordination with law enforcers and consultants.

However, HHS said a number of hospitals, doctors, pharmacies, and others have expressed potential cash flow concerns amid an inability to submit claims and receive payments in the wake of the attack.

Insurance providers are encouraged "to remove or relax prior authorization, other utilization management, and timely filing requirements during these system outages," HHS said.

An Elevance spokesperson, meanwhile, told CNN on Friday that Elevance has severed network connections to Change Healthcare "out of an abundance of caution." Elevance did not immediately reply to MT Newswires' request for comment on Tuesday.

Price: 473.32, Change: -8.55, Percent Change: -1.77