UnitedHealth Reports Strong Q1 Earnings Despite Medicare Advantage Changes and Lobbying Controversy

UnitedHealth Group reported $91.9 billion in revenue for Q1 2023, with $8 billion in earnings from operations, exceeding analysts' expectations. The company added 655,000 new Medicare Advantage members in the first quarter of the year. UnitedHealth helped lead an aggressive lobbying campaign against new Biden administration rules aimed at limiting Medicare Advantage insurers' ability to overcharge the federal government. The Centers for Medicare and Medicaid Services offered concessions to the industry, agreeing to impose its policy changes over a period of three years instead of all at once and boosting Medicare Advantage payment rates by more than expected. UnitedHealth could reap $900 million in additional profit next year alone thanks to the administration's decision to delay full implementation of the reforms.