Belk Digs Into UHC Finances – Questions Motive To Leave ACA Exchanges

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“United Health Care announced last fall that they would be pulling out of the ACA exchanges because the Obamacare policies were costing them too much money. I thought that was a curious announcement since, according to their financial statements from last year, they appeared to be doing quite well.”

“I’m really starting to wonder if I’m the only person who ever checks financial statements” – David Belk, M.D.

Hello again, I hope everyone enjoyed their Fourth of July weekend.

As you might remember, United Health Care announced last fall that they would be pulling out of the ACA exchanges because the Obamacare policies were costing them too much money. I thought that was a curious announcement since, according to their financial statements from last year, they appeared to be doing quite well.

So I decided to review United Health’s finances a bit more carefully to see if I could figure out what they were talking about. What did I find?

-United Health’s revenue increased by $27 billion last year.
-Their after tax profit increased by about $200 million and
-Their Medical loss ratio (medical expenses/premium revenue) was practically unchanged.

In other words, I found nothing in their finances to back up that announcement they made last year. In fact, United Health’s financial statement appeared to completely contradict what they were saying.

What’s really curious about this is that no one else in the media appears to have picked up on this rather obvious discrepancy. I’m really starting to wonder if I’m the only person who ever checks financial statements. As always, all of the statements I make in my blog are backed up by links, and most of these links are to United Health’s own financial statement.

http://www.huffingtonpost.com/david-belk/did-united-health-really-_b_10798584.html

David Belk MD

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