The Globe and Mail reports in its Wednesday edition that Unitedhealth Group on Tuesday said revenue this year would decline for the first time in decades. A Reuters dispatch to The Globe says the news follows Monday's lower-than-expected 2027 Medicare reimbursement proposal from the government, and its shares tumbled 19 per cent in New York. Chief executive officer Steve Hemsley stressed a return to financial rigour and streamlined operations, despite what could be the company's first decline in revenue since 1989. The Medicare agency said on Monday that payment rates for government-backed Medicare Advantage health plans will rise by just 0.09 per cent in 2027, well short of Wall Street expectations of an increase of up to 6 per cent. CVS health fell 10 per cent, with Humana shares dropping to a low not seen since 2017. Analysts said the prospect of lower government revenue from the Medicare plans for people aged 65 and older or with disabilities deepened worries about Unitedhealth's recovery. Tim Noel, CEO of the company's Unitedhealthcare insurance unit, called the rate proposal disappointing and said the company would continue working with the government to push for a more beneficial final rate increase.