Health insurers felt the sting of elevated medical costs yet again in the third quarter, with the congressional debate over the Affordable Care Act (ACA) subsidies looming large for investors. UnitedHealth Group was the most profitable company in the third quarter, bringing in $2.3 billion in earnings. The Cigna Group was the next-highest earner with $1.9 billion in profit. The quarter marked significant downswings for multiple players, including huge losses for both Centene and CVS Health as the companies wrote down expenses. For Centene, this amounted to a $6.6 billion loss after incurring a $6.7 billion impairment charge on its “goodwill,” while CVS posted a $3.99 billion loss with a $5.7 billion impairment.
Read the full article: Insurers Slammed by Medical Costs, Regulatory Pressures Yet Again in Q3 //
Source: https://www.fiercehealthcare.com/payers/insurers-slammed-medical-costs-regulatory-pressures-yet-again-q3