Healthcare

UnitedHealth Group beats expectations despite ObamaCare squeeze

Getty Images

The nation’s largest insurer performed better than expected over the last quarter, with a 28 percent increase in profits compared to the same time last year.

{mosads}UnitedHealth Group, which released its latest earnings report Tuesday, beat expectations on Wall Street even as the company continues to flounder in the ObamaCare marketplace. 

UnitedHealth’s second quarter revenues grew by $10.2 billion compared to last year’s, though the company also disclosed an additional $200 million in losses from the ObamaCare individual plans.

The company is the nation’s largest carrier, though it enrolls only 6 percent of the healthcare law’s exchanges.

Still, healthcare experts have carefully eyed UnitedHealth’s moves in the ObamaCare marketplaces for potential signs of what other insurers will do.

The company announced in April that it will pull out of the marketplace in all but “a handful” of states next year. It says it expects to lose more than $1 billion from the exchanges.

UnitedHealth’s overall financial picture appeared to improve, however. The company’s profits grew a total of 14 percent compared to last year, and it signed up 2.1 million more people.  

Tags
See all Hill.TV See all Video