Shares of UnitedHealth Group Inc. and Humana Inc. climbed Monday, after a J.P. Morgan analyst said the insurers should be able to grow their Medicare Advantage enrollment despite looming reimbursement cuts.

THE BIG PICTURE: UnitedHealth and Humana are the two largest providers of Medicare Advantage plans, which are privately run, subsidized versions of the federal government's Medicare program for the elderly and disabled people.

Insurers offer hundreds of different Medicare Advantage plans around the country. Shares of several Medicare Advantage coverage providers slid in February after the Centers for Medicare and Medicaid Services released data that pointed to payment cuts as steep as 8 percent for next year.

The government then softened the blow to a reduction of around 4 percent, according to some estimates. But UnitedHealth and Humana have both said recently that the cut will still be tough to stomach, given rising medical costs and other funding reductions that could hit the program next year.

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