UnitedHealth Group's third-quarter net income jumped 23 percent to trump expectations, as preparations for retiring Baby Boomers started to pay off for the nation's largest health insurer. UnitedHealth also raised its 2012 earnings forecast.

The Minnetonka, Minn., company said Tuesday its Medicare and retirement revenue swelled by $1.2 billion, as Medicare Advantage enrollment grew by 400,000 people compared to last year.

Medicare Advantage plans are privately run, subsidized versions of the government's Medicare program for the elderly and disabled people. UnitedHealth is the largest provider of these plans, and it made a couple acquisitions within the past year to help spur growth.

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