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Benzinga
Benzinga
Business
Vishaal Sanjay

UnitedHealth Hit By $6.5 Billion Medical Cost Blowout: Launches AI-Led Overhaul, Drops 600K Members To Regain Margins — 'These Are Serious Challenges'

UnitedHealth UnitedHealth Group Tim Noel UNH UnitedHealth Group Inc Medicare Stephen Hemsley
Irving,,Texas,,Usa,-,March,20,,2022:,Unitedhealthcare,Sign,On

Healthcare company, UnitedHealth Group Inc. (NYSE:UNH), says that it will drop 600,000 Medicare Advantage members and launch a sweeping operational overhaul after being blindsided by $6.5 billion in unanticipated medical costs.

What Happened: During its second-quarter earnings call on Tuesday, UnitedHealthcare’s CEO, Tim Noel, said, “Our pricing assumptions were well short of actual medical costs.”

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