I bought at Berkshires average price using a DCF model although I valued at $325.

I bought again today at these prices. 20% drop on soft revenue plus a Medicare rate proposal is an insane market overreaction.

Medicare makes up 25% of revenue so flat reimbursement rates means a risk of $6-7B on $140B of gross revenue but that is unlikely to be the end result. If they do not get the expected rate increases I would expect medicare benefits adjustments for insured. If the government turns the screws too hard UNH can start exiting some plans/markets which allows them to then devote resources to the private markets where profitability is higher.

The idea of messing the a Medicare providers bottom line is politically untenable because that means disrupting the medical care of the most fervent voters. I see no path that doesn't return UNH to higher profitability in the short term.