- UnitedHealth Group announced higher than previously estimated losses from its ACA plans during an earnings call this Tuesday.
- The insurer put its 2015 losses at $720 million, up from its November estimate of $700 million.
- The company predicts its combined 2015 and 2016 losses on exchange plans to reach $1 billion.
Despite the losses, UnitedHealth's overall revenue for 2015 increased 20% to hit $157.1 billion, Modern Healthcare reports, and the company directed attention on the call away from its relatively small ACA business.
“The vast majority of our business performed exceptionally well,” UnitedHealth CEO Stephen Hemsley stated during the call.
UnitedHealth has previously been noted for ending its broker commissions on ACA plans to slow enrollment and warning that it might exit the market in 2017. As Bloomberg notes, UnitedHealth was the first insurer to report its final results for 2015, and analysts are watching for indicators on how insurers are doing in the marketplace.