Health insurance stocks slide after UnitedHealth warns more surgeries will drive up medical costs

Insurance companies have benefitted in recent years from a delay in non-urgent procedures due to

and the pandemic, which saw hospitals inundated with Covid patients and widely seen as too risky to enter for elective procedures.The company has recorded "strong outpatient care activity" throughout April, May and the early part of June, CFO John Rex said at a Goldman Sachs healthcare conference. Most of the uptick in care has come from Medicare enrollees who are getting heart procedures and hip and knee replacements at outpatient clinics, according to Rex.

UnitedHealth CEO Timothy Noel said that older adults covered under Medicare are getting "more comfortable accessing services for things that they might have pushed off a bit." Rex said the amount of premium revenue spent on care for the second quarter may be at the high end or "moderately above" expectations due to the increase in procedures.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla shares rise, as Logitech, Kura and UnitedHealth fall and other stocks on the moveAmong Wednesday's moving stocks, shares of Tesla were headed higher again after the EV maker announced another price hike, while Kura Oncology shares fell on...
Source: MarketWatch - 🏆 3. / 97 Read more »

Oracle stock rises on upbeat outlook, while Apple shares slip and other stocks on the moveHere are some of the biggest movers in Tuesday's trading action.
Source: MarketWatch - 🏆 3. / 97 Read more »