The biggest story today comes out of California, where Health Net is cutting assisted living benefits for about 3,500 seniors, raising worries that some could lose their homes. It's a sharp reminder of how fragile coverage can be for older adults who depend on these benefits to stay housed and cared for.

Medicare Advantage is also in the spotlight. New reporting shows that the sickest enrollees, including many in nursing homes, are more likely to switch back to traditional Medicare, which is straining plans' investment in long-term care. Meanwhile, Medicare's chief pointed to the largest drop in U.S. drug prices in 63 years, and Costco announced its first-ever Medicare partnership aimed at improving the senior care shopping experience.

On the planning side, Medicare's 2027 Annual Enrollment Period is expected to bring big changes to Part D and Advantage plans, so it's worth watching for details as they emerge. Elsewhere, senior living construction and financing kept moving, with new assisted living projects and expansions reported in several states.