Becker's Healthcare November 10, 2025
Jakob Emerson

Health insurers spent the third quarter resetting pricing models and narrowing their product portfolios as medical cost trends remained elevated and Medicare Advantage headwinds intensified heading into 2026.

UnitedHealth Group reported Q3 revenue of $113.2 billion, up 12% year over year, as its medical loss ratio rose to 89.9% and earnings from operations fell compared to last year. Executives at the company told investors that repricing, portfolio rationalization, and margin repair would be the focus at UnitedHealthcare for 2026.

“Throughout the quarter, we have continued to evaluate the company’s businesses with fresh perspectives and with continued confidence in our progress and our overall direction,” Chair and CEO Stephen Hemsley said. “We expect to complete that assessment in the fourth quarter...

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