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Photo: Bill Clark/CQ Roll Call via Getty Images

Medicare’s annual enrollment period started Monday, and health insurers are banking that a lot more seniors and people with disabilities will sign up for private Medicare Advantage plans instead of traditional Medicare coverage.

Driving the news: UnitedHealth Group executives yesterday said earnings per share next year will increase by roughly 13%, due in large part to MA's “extraordinary growth opportunity.”

  • Devoted Health, a startup founded by Todd and Ed Park, just raised $300 million in venture funding as it starts selling MA plans for the first time in eight Florida counties.
  • MA plans are all the rage among hospital-owned insurers, too.
  • MA enrollment increased 8% in 2018, and the feds expect a 12% enrollment bump for 2019.

The bottom line: Both Democrats and Republicans support MA, so the enrollment wave likely won’t subside in the near term. But there are still deep concerns about insurers gaming the program.

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases — Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  4. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.

3 hours ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.