Elevance and UnitedHealthcare are just two of the latest payers to switch from trying to increase Medicare Advantage (MA) enrollment to a “more members, more problems” attitude amid soaring medical costs and new restrictions.

As a result of slashing benefits and exiting counties, recent earnings calls suggest both companies will see their MA membership majorly shrink by the end of 2026.

“Medicare Advantage once held so much promise for insurers,” Arielle Trzcinski, principal analyst at global research and advisory firm Forrester, told us over email. “As riskier, higher-cost populations flocked to these offerings over traditional Medicare, a battle for market share among insurance companies watered down MA’s competitive advantage while eroding margins.”

Minus-ing members. UnitedHealthcare is on track to lose 1.3 million to 1.4 million Medicare Advantage members in 2026 and up to 2.8 million enrollees across all its offerings, CEO Tim Noel said in UnitedHealth Group’s Jan. 27 earnings call. United reported it had 8.4 million MA enrollees out of its 49.8 million total members at the end of 2025.

Loss isn’t always a bad thing, though.—CC

What do you get when you add the words women and health together? Wealth.

Women’s telehealth company Midi Health announced a $100 million Series D fundraise on Feb. 3. The investment, led by Goodwater Capital, brings the company’s valuation to $1+ billion, according to a release.

This comes soon after cancer detection company AOA Dx reported that women’s health startups have reached an exit value, or how much investors make when selling their stake, of $100+ billion since 2000. But the work is only just beginning, according to Maria De Santis, principal at venture capital (VC) firm Muse Capital, a Midi investor.

“We see some clear, gaping holes that still need to be addressed,” De Santis told us.

VCs are increasingly showing interest in the field.—CM

Welcome back to Signed and Scrubbed, a monthly roundup of hospital deals, developments, and bankruptcies.

Franklin, Tennessee-based Community Health Systems (CHS) kicked off 2026 selling off even more of its assets, with Chicago-based CommonSpirit Health in talks to follow in its footsteps.

Here’s more for your January 2026 roundup.

CommonSpirit Health. The 137-hospital health system is reportedly considering selling seven hospitals in two separate sales, Becker’s reported on Jan. 23. Under the proposed deals, CommonSpirit would sell CHI St. Alexius Health in Bismarck, CHI St. Alexius Health Turtle Lake, CHI St. Alexius Health Garrison, and CHI St. Alexius Health Devils Lake to North Dakota’s Altru Health, which includes 177-bed Altru Hospital.

See the full list here.—CM

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