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BUSINESS
October 17, 2008 | From the Associated Press
UnitedHealth Group Inc. reported a 28% drop in third-quarter profit, but the insurer also reassured Wall Street with a performance that met or surpassed expectations in several areas. Minnetonka, Minn.-based UnitedHealth said net income fell to $920 million, or 75 cents a share, down from $1.28 billion, or 95 cents, a year earlier. This was driven in part by higher operating costs. But the second-largest U.S. health insurer also said revenue rose 8% to $20.2 billion. Its adjusted profit was 73 cents a share, excluding a 2-cent benefit from a change in the estimate of net costs to settle a couple of stock option-related lawsuits.
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CALIFORNIA | LOCAL
September 29, 2009 | Patrick McGreevy
A former deputy director for the California Department of Managed Health Care has agreed to pay a $3,000 administrative fine after admitting a conflict of interest violation, the state's ethics watchdog agency said Monday. Kevin Donohue, who still works for the agency in another capacity, admitted he held stock in UnitedHealth Group Inc. when he helped review the 2005 merger of the firm with PacifiCare Health Systems Inc., according to a stipulated settlement with the state Fair Political Practices Commission.
BUSINESS
July 21, 2009 | W.J. Hennigan
Woodland Hills-based Health Net Inc. announced plans Monday to sell its Northeast U.S. health insurance operations to UnitedHealth Group Inc. for about $510 million. UnitedHealth, the country's largest commercial health insurer, will pick up Health Net's 578,000 members in Connecticut, New York and New Jersey. This year's operations are expected to generate about $2.7 billion in revenue.
BUSINESS
November 27, 2012 | By Chad Terhune, Los Angeles Times
UnitedHealth Group Inc., the nation's largest health insurer, issued a weaker-than-expected 2013 profit outlook amid worries about economic growth and negotiations over federal spending. Ahead of its annual investor conference Tuesday, UnitedHealth said it expects earnings next year to be $5.25 to $5.50 a share. That's slightly below the average analyst estimate of $5.58 a share. But the Minnetonka, Minn., company's projection of annual revenue of as much as $124 billion topped analysts' expectations of $119 billion.
BUSINESS
October 16, 2012 | By Chad Terhune
The nation's largest health insurer, UnitedHealth Group Inc., reported a 23% increase in third-quarter profit on the strength of continued growth in its Medicare and Medicaid businesses. The Minnetonka, Minn., company raised its full-year earnings forecast and said overall medical costs among its customers remained largely in check. UnitedHealth is the first major health insurer to report third-quarter results, and it often sets the tone for the industry. UnitedHealth said net income for the quarter ending Sept.
BUSINESS
January 23, 2009 | times wire reports
UnitedHealth Group Inc. stock soared after the health insurer released a fourth-quarter report that showed it might be building momentum in a recession-battered industry. The Minnetonka, Minn.-based insurer said profit fell 40% compared with the same quarter last year. But its adjusted earnings, which don't count a lawsuit settlement, matched analyst expectations. Revenue increased 9% to $20.45 billion, surpassing Wall Street expectations. The company told analysts it added more than 120,000 customers to its Medicare Advantage program this month.
BUSINESS
March 13, 2008 | From Bloomberg News
Humana Inc., the second-largest seller of Medicare drug plans, Wednesday followed rival WellPoint Inc. in cutting its 2008 forecast because of rising prescription costs. Humana said expenses soared when it lowered patients' fees for medicine in a bid to lure new customers into its Medicare prescription plans. Humana is racing to grab market share from UnitedHealth Group Inc., the largest seller of the U.S.-backed drug plans, analysts said. Insurers are struggling to attract new members to boost earnings without letting medical costs outstrip premiums.
BUSINESS
November 26, 2012 | By Chad Terhune
UnitedHealth Group Inc., the nation's largest health insurer, issued a weaker-than-expected 2013 profit outlook amid worries about economic growth and negotiations over federal spending. Ahead of its annual investor conference Tuesday, UnitedHealth said it expects earnings next year to be $5.25 to $5.50 a share. That's slightly below the average analyst estimate of $5.58 a share. But the Minnetonka, Minn., company's projection of annual revenue of as much as $124 billion topped analysts' expectations of $119 billion.
BUSINESS
October 29, 2009 | Bloomberg News
INDIANAPOLIS -- Health insurer WellPoint Inc. said Wednesday its third-quarter profit fell 11 percent as enrollment in employer-sponsored insurance plans continued to slip while more U.S. workers lost their jobs. The largest publicly traded health insurer based on enrollment said it took a big hit in local group business, which provides fully insured plans for small businesses. Membership there sank 6 percent compared to the same quarter in 2008. Enrollment in WellPoint's commercial business, a category that encompasses mostly employer-sponsored group coverage, dropped 3.5 percent.
BUSINESS
July 20, 2012 | Los Angeles Times
UnitedHealth Group Inc. reported a 6% increase in second-quarter profit and raised its full-year outlook, but the nation's largest health insurer warned about a tough environment for its Medicare and Medicaid plans as governments face more financial strain. UnitedHealth Chief Executive Stephen Hemsley, in a conference call with analysts and investors, said that "there continues to be more downward than upward pressure across the healthcare landscape.... State budgets are clearly constrained for Medicaid.
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