Becker's Healthcare January 17, 2025
The medical cost challenges that have challenged insurers in 2024 will not be going away in 2025, UnitedHealth Group executives said.
The nation’s largest insurer reported its fourth-quarter and full-year 2024 earnings Jan. 16. UnitedHealth Group’s medical loss ratio was 85.5% in 2024, up from 83.2% in 2023.
CFO John Rex told investors on a Jan. 16 call that several factors accounted for about 70% of the increase in medical costs year over year. The company’s Medicare Advantage plans did not grow as expected in 2024, Mr. Rex said, leading to a different profile of consumers than UnitedHealth expected. Medicaid redeterminations also left the company with a higher-need membership.
The Change Healthcare cyberattack, which cost the company...
Today's Sponsors
Today's Sponsor