I've written about the business of healthcare for more than three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy.
Second quarter profits of the nation’s two largest health insurers - Elevance Health and UnitedHealth Group - are an indication so far that the industry is overcoming issues in Medicare Advantage .
During the pandemic, health insurers generally enjoyed record profits in part because people weren’t seeking care at levels before the Coronavirus hit in early 2020. When claims weren’t filed because care was avoided or delayed, medical expenses were more easily managed. UnitedHealth chief executive officer Andrew Witty told analysts last week during the company’s second quarter earnings call that the health insurance business is dealing with the government’s Medicare Advantage “funding cut price reduction,” but the company is responding well.
Meanwhile, Elevance Health chief executive Gail Boudreaux told analysts on her company’s second quarter earnings call that the ability of the company to maintain “star ratings” of 4 or betterfor more than half of the company’s Medicare Advantage membership heading into the 2025 “payment year” will “help offset funding cuts to the Medicare Advantage program for the second consecutive year.”that included Medicare Advantage in the second quarter that “was unchanged compared to the prior year.
Unitedhealth Group Elevance Health Anthem Unitedhealthcare
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