UnitedHealth Group continued its dominance of the U.S. health insurance market in 2018, adding another 2.4 million members and $20.2 billion in revenues to its core UnitedHealthcare business compared to the previous year. Beyond retaining its status as the nation’s largest private insurer, UnitedHealth continued to enjoy the pull of its Optum health services and analytics business, which raked in more than $101 billion, or 11.1% year-over-year growth. By those metrics, new CEO David Wichmann’s first full year at the helm was a resounding success. But there may be trouble brewing on the horizon: In recent months, health insurers have taken a beating in the market as the specter of “Medicare for All” becomes increasingly popular among Democratic presidential candidates—and Wichmann has been one of the loudest critics of universal health care proposals.
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The move may help address criticism that has targeted large pharmacy benefits managers.
The move comes as a bipartisan bill to crack down on the tactics drugmakers use.
It's part of a broader $350 million fund to prevent and treat Alzheimer's.
The health insurance giant's Optum unit is on a serious roll.