UnitedHealth says it is under a federal investigation and cooperating
Summary
UnitedHealth Group announced it is under investigation by the U.S. Department of Justice for both criminal and civil matters related to how it records diagnoses for Medicare Advantage plans. The company is cooperating with the investigation and started responding to requests from federal investigators. UnitedHealth's stock value fell following the announcement.Key Facts
- UnitedHealth Group is being investigated by the U.S. Department of Justice.
- The investigation focuses on criminal and civil matters.
- UnitedHealth is cooperating with investigators and providing requested information.
- The company's Medicare Advantage plans, which are private versions of government Medicare for mostly people over 65, are part of the investigation.
- UnitedHealth's UnitedHealthcare business is the largest provider of Medicare Advantage plans in the U.S., covering over 8 million people.
- UnitedHealth's stock price fell by 2% after the investigation was announced.
- UnitedHealth also runs a significant health insurance, pharmacy benefits, and technology support business called Optum.
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