I write pieces on sub-sectors and trends within health tech and S-1 breakdowns. Sign up below to get the latest in your inbox. In the past month, a series of health insurers have announced Medicare Advantage (MA) enrollment that fell short of projections. On January 6, Humana announced its enrollment numbers were only ~50% of previous projections, causing the stock to drop by 20%. In short succession, Alignment and Cigna also announced they had enrolled fewer members than expected. While the Medicare Advantage market remains attractive financially and at the center of digital health innovation, these recent enrollment misses suggest the MA market may be changing. These changes present interesting opportunities for startups selling into MA payers.