UnitedHealth says it is under a federal investigation and cooperating
The company said it has started complying with both criminal and civil requests from federal investigators and it was cooperating with them.
'(UnitedHealth) has a long record of responsible conduct and effective compliance,' the company said in a Securities and Exchange Commission filing.
Earlier this year, The Wall Street Journal said federal officials had launched a civil fraud investigation into how the company records diagnoses that lead to extra payments for its Medicare Advantage, or MA, plans. Those are privately run versions of the government's Medicare coverage program mostly for people ages 65 and over.
The company's UnitedHealthcare business covers more than 8 million people as the nation's largest provider of Medicare Advantage plans. The business has been under pressure in recent quarters due to rising care use and rate cuts.
UnitedHealth Group Inc. said in February that it wasn't aware of the start of any new activity as the paper reported.
The company said Thursday that it reached out to the Justice Department 'after reviewing media reports about investigations into certain aspects of the company's participation in the Medicare program.'
UnitedHealth runs one of the nation's largest health insurance and pharmacy benefits management businesses. It also operates a growing Optum business that provides care and technology support.
Company shares have mostly shed value since December, when UnitedHealthcare CEO Brian Thompson was fatally shot in midtown Manhattan on his way to the company's annual investor meeting.
The stock price dropped 2%, or $6.13, to $286.50 Thursday morning.
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'Now I am very fortunate great insurance and I have a low deductible so over the course of my pregnancy out of pocket I paid $2,038.70. 'I know that is relatively good but still, $2,000 for something that is considered necessary and vital to the future of America is pretty significant.' Emily added that on top of that, her newborns both received bills for their delivery. 'It's kind of funny, they're not even able to blink yet and they've already been billed more than the total cost of my student loans,' she continued. 'Baby A received a bill for $15,124.55 and Baby B was billed $14,875.55, I guess there was some sort of sibling discount. She added, 'The total cost I owed for those two bills was $750, which was the cost of my deductible.' The bills are seen above 'The total cost I owed for those two bills was $750, which was the cost of my deductible.' She then broke down what some of the highest costs were during the pregnancy. Unsurprisingly, the delivery itself and the hospital stay afterwards was the most costly expense. Emily explained that she had a scheduled C-section at 37 weeks and spent four days in the hospital post delivery, and the total cost of her care before insurance was $65,665.50. The second highest cost during the pregnancy was an appointment she had about seven months in, during which she complained to her doctor that she was having headaches. She said they took her blood pressure and it was slightly elevated, so they monitored the heart rate of the babies for 20 minutes to 'make sure they were okay.' She was then given 'two extra strength Tylenol' and they 'did some blood work.' 'The cost that was billed to my insurance for that visit was $9,115,' shared the new mom. 'All things considered, I'm very grateful for the experience that I had and very grateful to have great insurance, but I know that for a lot of people who live in America that is simply not possible,' she concluded. 'And if I did not have insurance delivery my two baby girls, I would not be able to afford it. 'In fact, I probably would have had to file bankruptcy had I not had insurance. So when people act confused why the birth rates are down, maybe it's not necessarily all attributed to lifestyle choices, maybe it's not because people aren't feeling the vibe of having kids, maybe it's because the cost of having a baby in America is over six figures.' While chatting with the Daily Mail about it, Emily, who used to work on the healthcare space, said she believes the insurance system in America 'needs a complete overhaul.' 'Given that the US is the one of (if not the only) developed nation in the world without some sort of universal healthcare, we're falling behind,' she said. 'People are spending too much on basic and necessary care. Medical debt is one of the number one reasons for bankruptcy in the US, and it shouldn't be that way. 'If we invested in a system that put the health its people first, everyone would be better off. 'And given the decline in birth rates, if our politicians are genuinely concerned about falling birth rates, they would be incentivizing people to have children. You shouldn't have to pay to give birth.' She added that while she was 'shocked' by the high number that her insurance was billed, she was 'not surprised at the same time.' 'The first thing that came to mind when I saw the total was, "How do people without insurance afford this?"' she shared. 'But I've always known that healthcare in America is a business. Ultimately, like most necessities in the US, privatized insurance is designed to make money.' She said she certainly wasn't expecting her video, which was viewed more than one million times, to get as much attention as it did, but she's so glad that it has sparked a conversation. 'I hope my video makes people think twice about having kids in America. Because until the system is redesigned to truly support the people, we shouldn't be buying into it,' she concluded. 'I'm fortunate to have good health coverage. I'm not on the hook for much as far as the cost of my pregnancy, but that is only the beginning for my family and what we'll pay to raise my kids. 'Now we have to think about things like paying for their health coverage, daycare, food, housing and college. 'All of these things are only getting more and more expensive and almost unreachable for people.'
