Medicare practices sent the stock diving Thursday to a five-year low. The Justice Department is looking into potential Medicare fraud by the health insurer, according to a report by the Wall Street Journal,

The U.S. Department of Justice is carrying out a criminal investigation into UnitedHealth Group for possible Medicare fraud, the Wall Street Journal reported on Wednesday.

Shares of UnitedHealth Group tumbled 16% in intraday trading Thursday, leading S&P 500 decliners, on a report that the U.S. Department of Justice is investigating the embattled health insurance provider for possible criminal Medicare fraud.