INDIANAPOLIS (AP) — UnitedHealth Group Inc.'s third-quarter net income edged slightly lower as medical costs climbed and some health care use picked up, but the insurer's revenue grew and it raised its 2011 earnings forecast.
The Minnetonka, Minn., managed care company's medical claims paid rose 7 percent to $18.41 billion compared to last year's quarter, mainly due to price increases. UnitedHealth also said Tuesday it saw a "modest increase" in utilization trends for doctor's offices and outpatient care.
UnitedHealth and other insurers have turned in strong performances over the past few quarters in part because health care use has grown at a slower rate than they expected when they set premiums. Analysts say utilization growth tends to slow after a recession, as consumers pull back on their health care spending.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
