Elevance Health Inc. (NYSE:ELV) stock is trading lower on Monday after the Centers for Medicare & Medicaid Services (CMS) froze the insurer’s Medicare Advantage enrollment.

CMS Freezes Medicare Advantage Enrollment

The agency on Friday notified Eevance Health of its intent to impose intermediate sanctions suspending enrollment of Medicare beneficiaries into the company’s Medicare Advantage-Prescription Drug (MA-PD) plans and suspending certain communication activities to Medicare beneficiaries.

The sanctions are scheduled to take effect on March 31, 2026, unless CMS determines that the issues identified have been satisfactorily addressed.

The suspension does not impact the company’s current MA-PD members’ benefits or plans.

Regulatory Concerns Over Risk Adjustment Data Submissions

In an SEC filing on Friday, the CMS indicated that the proposed sanctions relate to alleged noncompliance by the company with certain Medicare Advantage risk adjustment data submission requirements for dates of service ...