United Health Group profits up 30%

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Rising unemployment, and consequent rising uninsurance, reduced United Health Group’s lucrative commercial enrollment by almost a million people compared to last year. Despite that, United posted rising profits for the third straight quarter. Raising premiums and a 12.5% increase in taxpayer-funded Medicare and Medicaid enrollment contributed to the profits. United Health Care (Americhoice) is one of three HMOs in CT’s Medicaid managed care program. An independent audit by the Comptroller’s Office last year found that CT is overpaying the HUSKY HMOs by $50 million annually. Also last year, CT’s insurance dept. approved a controversial, first-of-its-kind proposal by United to purchase HealthNet’s consumer information on CT residents.
Ellen Andrews