APR 17, 2020
The for-profit health insurance giant UnitedHealth Group reported profits grew by over $160 million during the first quarter of 2020, as demand for nonessential medical treatment plummeted while coronavirus hospitalizations surged. UnitedHealth reported a 3.4% year-over-year increase in quarterly earnings to $5 billion. Former health insurance executive Wendell Potter tweeted in response, “The earnings were so good, the company said it still expects to make as much in total profits this year as they predicted in December … when no one could predict the massive loss of life & jobs caused by the coronavirus. In other words, they’re thriving during a pandemic.”
The for-profit health insurance giant UnitedHealth Group reported profits grew by over $160 million during the first quarter of 2020, as demand for nonessential medical treatment plummeted while coronavirus hospitalizations surged. UnitedHealth reported a 3.4% year-over-year increase in quarterly earnings to $5 billion. Former health insurance executive Wendell Potter tweeted in response, “The earnings were so good, the company said it still expects to make as much in total profits this year as they predicted in December … when no one could predict the massive loss of life & jobs caused by the coronavirus. In other words, they’re thriving during a pandemic.”
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