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October 17, 2017 at 07:01 AM
Executives at UnitedHealth Group Inc. today continued to emphasize the performance of operations other than the company’s huge U.S. health insurance business.
The Minnetonka, Minnesota-based health insurer is reporting $2.6 billion in net income for the third quarter on $50 billion in revenue, up from $2 billion in net income on $46 billion in revenue for the third quarter of 2016.
(Related: UnitedHealth Says Narrower Group Distribution Helps Sales)
The company ended the quarter providing or administering major medical coverage for 49 million people around the world, up from 48 million people a year earlier. The number of U.S. residents covered increased to 45 million, from 44 million.
Medicare Advantage plan enrollment jumped to 4.4 million, from 3.6 million.
The Medicare supplement insurance coverage holder count increased to 4.4 million, from 4.2 million.
Enrollment in traditional “risk-based” health insurance plans, as opposed to government plans, or employer health plans simply administered by UnitedHealth, increased to 7.8 million, from 7.3 million.
When the company held a public conference call this morning to go over the results with Wall Street securities analysts, executives’ discussions focused mainly on the company’s Medicare, Medicaid and international operations.
David Wichmann recently took over from Stephen Hemsley as the company’s chief executive officer.
He noted during the company’s call that Medicare plan enrollment, for example, is 12% higher than it was in the third quarter of 2016.
