After posting a record $6.6B in profits for Q2—coinciding with the first wave of the COVID-19 pandemic—the industry giant saw profits drop in Q3 to $3.2B. Why? Because hospitals resumed both elective surgeries and routine and specialist in-person care. And more patients began taking advantage of their insurance again. UnitedHealthcare and other payors have benefitted from consumers not using their insurance due to the COVID-19 pandemic. As consumer behavior changes, we’ll have to see if the people who remain insured have any issues getting the care they delayed covered.
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