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UnitedHealth’s third quarter profit declines…to $3.2B.

On October 14, 2020, the Wall Street Journal reported United's business was returning to normal as consumers again visit their doctor and schedule surgeries postponed by COVID-19. This resulted in a decline in profits for United compared to the second quarter, but they were still very high.

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.

Original Article:

In the spring and early summer, UnitedHealth’s insurance unit benefited financially from cost savings as it paid for fewer doctor visits, surgeries and hospital stays this spring and early in the summer.
WSJ | Anna Wilde Mathews and Matt Grossman

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