UnitedHealth Group (NYSE:UNH) reported second quarter results reflecting well-balanced growth and disciplined execution across its core businesses.
“Our businesses were privileged again this quarter to have grown to serve more customers and consumers. We continue to invest to differentiate our products and services to better serve our customers and fuel future growth,” said Stephen J. Hemsley, chief executive officer of UnitedHealth Group.
The Company narrowed its outlook for 2016 GAAP net earnings to a range of $7.25 to $7.40 per share and adjusted net earnings to a range of $7.80 to $7.95 per share.
UnitedHealthcare Medicare & Retirement
- Second quarter 2016 UnitedHealthcare Medicare & Retirement revenues of $14.3 billion grew $1.7 billion or 14 percent year-over-year, driven by growth in services to seniors through both individual and employer-sponsored group medical products in 2016.
- In Medicare Advantage, UnitedHealthcare grew to serve 345,000 more seniors year-over-year, an 11 percent increase, including 20,000 seniors in the second quarter.
- Medicare Supplement products grew 6 percent to serve 250,000 more people year-over-year, including 15,000 seniors in the second quarter.
- UnitedHealthcare’s stand-alone Medicare Part D program served 4.9 million people at June 30, 2016, a decrease of 135,000 people year-over-year, reflecting a planned pull-back in Part D in 2016.
UnitedHealthcare Community & State
- Second quarter 2016 UnitedHealthcare Community & State revenues of $8.3 billion grew $1.1 billion or 15 percent year-over-year, driven by strong overall growth and an increasing mix of higher need members.
- In the past year, UnitedHealthcare grew to serve 465,000 more people in Medicaid, an increase of 9 percent, including 225,000 more people in second quarter 2016.