(Reuters) -UnitedHealth ( UNH ) on Tuesday forecast adjusted profit for 2025 below Wall Street estimates.

The company sees adjusted profit for the year to be between $29.50 and $30.00 per share, the midpoint of which came below analysts' estimates of $29.92 per share, according to data compiled by LSEG.

Shares of the company fell 1.36% to $597.01 after the bell.

In October, the health insurer forecast a profit of as much as $30 per share.

The company set next year's forecast "more conservatively than is typical" due in part to payment cuts from the government for Medicare plans and low state payment rates for Medicaid plans for low-income people, it said in October.

UnitedHealth's ( UNH ) investor conference is scheduled for Wednesday.