United Health Qtr1 2017 Profits Increase 35% after Exiting Obamacare Exchanges

United Health Qtr1 2017 Profits Increase 35% after Exiting Obamacare Exchanges

Source: Shutterstock, public domain.
Source: Shutterstock, public domain.

After exiting many of the Obamacare exchanges, United Health Group’s 2017 quarter 1 revenues increased 9.4% to $48.7 billion, up from $44.5 billion in 2016.

Washington Examiner by Ali Meyer

United Health reported 35 percent higher profits in the first quarter as they cut participation in the Obamacare exchanges, the Associated Press reported.

United Health announced last year that it would cut participation on the Affordable Act Exchanges to three states after they had expanded to 34. They projected losses of more than $800 million.

In the first quarter, while the major health insurer scaled back Obamacare participation they company increased nearly every other sector of its business.

“The insurer also hiked its 2017 earnings forecast on Tuesday, and company shares started climbing shortly after it detailed results,” the article said[…]

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What a difference compared to December 2015 when Stephen Hemsley, CEO of UnitedHealth expressed regrets over the company’s losses because of its participation in the Obamacare exchanges.  United Health pulled out of Obamacare’s individual insurance market year end 2016.

 

http://markets.businessinsider.com/stock/UNH-Quote

 

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