Executives at UnitedHealth Group Inc. (NYSE:UNH) say the cost of implementing the Patient Protection and Affordable Care Act of 2010 (PPACA) could start to accelerate later this year.
David Wichmann, the chief financial officer at UnitedHealth, Minnetonka, Minn., discussed PPACA implementation costs today during an analyst call.
UnitedHealth is reporting $1.34 billion in net income for the second quarter on $27 billion in revenue, up from $1.27 billion in net income on $25 billion in revenue for the second quarter of 2011.
The company ended the quarter providing or administering health coverage for 36 million, up from 34 million people a year earlier.
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Enrollment in commercial plans increased 2.8%, to 26 million.
Enrollment in insured commercial plans fell to 9.3 million, from 9.5 million; enrollment in employer-sponsored self-insured plans increased to 17 million, from 16 million.
Enrollment in plans that incorporate health savings accounts or health reimbursement arrangements increased 25%, to 4.8 million.