Latest news with #UnitedHealthGroup
Yahoo
4 hours ago
- Health
- Yahoo
Lawmakers send flurry of bills to governor's desk in final days of spring session
SPRINGFIELD — Along with a budget that passed shortly before Saturday's deadline, Illinois legislators passed a flurry of bills in the final days of the General Assembly's spring session on issues ranging from police hiring practices to traffic safety. Here are some of the bills heading to Gov. JB Pritzker's desk after passing out of the legislature at the end of the four-month session. A measure designed to rein in the practices of pharmacy benefits managers, or PBMs — companies that act as intermediaries between drugmakers, insurance corporations and pharmacies — was approved with broad bipartisan support and is backed by Pritzker. The largest PBMs are part of corporate entities that include pharmacy chain CVS and UnitedHealth Group. Critics blame them for driving up prescription drug costs for patients while pushing independent pharmacies out of business. The measure awaiting Pritzker's signature would bar PBMs from charging insurance companies more for drugs than they are paid by pharmacies and pocketing the difference; prohibit them from giving better reimbursement rates to pharmacies that are owned by the same company; and require them to pass along rebates negotiated with drugmakers to health plans and patients. PBMs also would be required to make annual reports on pricing and other practices to the Illinois Department of Insurance, and would be charged an annual $15-per-patient fee, with the first $25 million collected going to a grant fund to support local pharmacies. 'For far too long, pharmacy benefit managers' business practices have operated with little regulation, transparency, and accountability. Illinois is putting an end to that,' Pritzker said in a statement Saturday after the House sent the measure to his desk. A trade group representing the industry argued that PBMs are 'the only check against drug companies' unlimited pricing power' and said the proposed changes would lead to higher prices at the drugstore counter. But PBMs have drawn scorn from across the political spectrum. President Donald Trump, Pritzker's frequent sparring partner, in April issued an executive order that aims to lower drug prices through steps that would include increasing 'transparency into the direct and indirect compensation received by pharmacy benefit managers.' And ruby-red Arkansas recently became the first state to bar PBMs from owning pharmacies. Illinois is set to study safety measures on DuSable Lake Shore Drive, including whether cameras powered by artificial intelligence could reduce crashes under a measure sent to Pritzker. Democratic Sen. Sara Feigenholtz, the bill's sponsor, has pointed to the use of cameras that could 'track vehicles' as opposed to focusing only on a fixed point, and detect violations beyond just speeding. State law now largely allows automated speed cameras around parks and schools but not on DuSable Lake Shore Drive. There were disproportionately high rates of collisions and traffic fatalities on the drive compared with the rest of Chicago from 2019 to 2024, according to data provided from transit advocates to Feigenholtz's office. The American Civil Liberties Union of Illinois has said guardrails are needed to protect people from 'omnipresent AI surveillance,' though neither the ACLU or any other organizations officially opposed the bill. A bill introduced in response to the 2024 fatal shooting of Sonya Massey in the Springfield area by a downstate sheriff's deputy now awaits Pritzker's signature. Sean Grayson was fired from his job as a Sangamon County sheriff's deputy after the killing and charged with murder. After Massey's death, it was revealed that Grayson previously worked for five law enforcement agencies and had been the subject of citizen complaints and criticism from superiors who questioned his competence. Grayson also had two DUIs on his record before he went into law enforcement. The legislation would bar law enforcement agencies from making a final offer for employment without getting a signed release from the applicant directing 'any and all entities that previously employed the individual to produce or make available for inspection all employment records, including background investigation materials collected in connection with making a final offer of employment.' A statewide office to support under-resourced public defenders throughout Illinois would be created under another criminal justice measure sent to the governor. The bill, dubbed by advocates as the Funded Advocacy & Independent Representation bill, or FAIR Act, could assist public defenders in rural areas, where the availability of effective public defense for indigent criminal defendants can be sparse. Advocates, including the Cook County public defender's office, argued the bill would create more of a level playing field for public defense when compared with prosecutors, who can get statewide help on cases through the Illinois attorney general's office. Some of the assistance provided by the statewide public defender office could be the availability of more public defense lawyers and defense experts who may specialize in various evidentiary or forensic practices. The Cook County public defender's office also pushed for legislation to expand the jurisdiction of its attorneys representing noncitizen Cook County residents in immigration cases being heard outside the county. The bill passed the Senate on Friday 37-19 after clearing the House in early April. 'As immigrant communities are grappling with shifting federal policies, we must adapt to ensure there is no lapse in access to counsel,' Sen. Omar Aquino, a Chicago Democrat who sponsored the bill, said. 'Families deserve to know that this resource is available and reliable despite changes happening at the federal level.' According to Tovia Siegel, a proponent of the bill and the director of organizing and leadership at The Resurrection Project, the Cook County's public defender's office can currently represent immigrants only in Chicago's immigration court, but individuals in that court are being 'sent all over the country.' 'We're even seeing people sent out of the country, and so it's essential that the Cook County public defender's office has the ability to continue representing their clients,' Siegel said. Another measure the Democratic-controlled General Assembly passed with a specific eye on the Trump administration centered on abortion rights. The bill is intended provide more protections under Illinois' 2023 shield law, which prevents health care workers from facing disciplinary action by the state if, for instance, they provide abortion care to someone from a state that has more stringent abortion restrictions. The legislation also would ensure prescribing abortion medications such as mifepristone would remain legal in Illinois even if the U.S. Food and Drug Administration revokes approval, as long as the World Health Organization recommends the drug's use. Democrats have warned that access to these drugs could be jeopardized following declarations toward that end by Project 2025, the Heritage Foundation policy group thought to have influence on the Trump White House. Also heading to Pritzker's desk is a bill that aims to strengthen restrictions on how firearms are stored or kept in place where a minor, or someone who isn't allowed to own a gun, has access to them. Gun owners could be fined up to $1,000 if a prohibited person gets hold of an improperly stored firearm. The fine would increase to $10,000 if the person kills someone with the firearm. Gun owners could also face civil penalties if they fail more than twice to report the loss or theft of their gun within 48 hours upon acknowledging the crime. 'I'm pleased that we're moving forward with this legislation where I anticipate the governor will agree with its importance,' said state Rep. Maura Hirschauer, a Democrat from Batavia. 'Gun owners and nongun owners alike can agree safe gun storage can reduce unintentional injuries, suicides and intentional harm like school shootings by stopping unauthorized access, and it's time for us to take action,' she said. Republican state lawmakers took issue with several provisions in the measure and warned the legislation could be challenged in court. 'I wish we had more opportunity to talk this through,' Rep. C.D. Davidsmeyer, a Republican from Jacksonville, said. 'You're trying to do something that makes people safer, but you're actually infringing on our rights.'
Yahoo
2 days ago
- Business
- Yahoo
1 Thing Investors Must Know Before Buying the 52% Dip on UnitedHealth Group
The problems at UnitedHealth Group are piling up, including alleged criminal activity. The stock could face government intervention in a worst-case scenario. UnitedHealth Group probably won't revisit highs anytime soon. 10 stocks we like better than UnitedHealth Group › Before you buy stock in UnitedHealth Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and UnitedHealth Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,761!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,263!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Justin Pope has no position in any of the stocks mentioned. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy. 1 Thing Investors Must Know Before Buying the 52% Dip on UnitedHealth Group was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
UnitedHealth Group Stock Is Near 5-Year Lows: Is It a Bargain Buy?
UnitedHealth Group slashed its forecast earlier this year. The company is reportedly facing a criminal probe related to its billing practices. The stock has been falling on recent developments and hasn't been this cheap in years. 10 stocks we like better than UnitedHealth Group › UnitedHealth Group (NYSE: UNH) is one of the biggest health insurers in the U.S. It plays a critical role in the healthcare industry, and for years, it has been a sound stock to invest in. This year, however, has raised significant questions about just how safe the stock really is. Since January, UnitedHealth stock has lost more than 40% of its value. Those kinds of swings may be common for risky meme stocks, but not one of the most reliable health insurers in the world. Is UnitedHealth truly a company that's in deep trouble and a stock you should steer clear of, or is the market overreacting? Could this be one heck of a cheap buy right now? One of the biggest concerns undoubtedly for investors right now is that the healthcare company is reportedly in the midst of a criminal investigation. According to the Wall Street Journal, investigators are looking at whether the company defrauded the federal Medicare program. Meanwhile, The Guardian reported that UnitedHealth allegedly paid nursing homes bonuses for reducing the number of hospital transfers for residents. Doing so would reduce costs for the business but, at the same time, potentially jeopardize the health of those residents. While these allegations haven't been proven, they do appear to be weighing heavily on the business. And what doesn't help matters is that a few weeks ago, UnitedHealth Chief Executive Officer Andrew Witty said that he would be stepping down from his position, stating that he was doing so simply for "personal reasons." Investors may be seeing this as confirmation that the allegations are indeed true and that the business is in deep trouble. Taking over will be Stephen Hemsley, who previously served as the company's CEO. But another reason could be the company's recent financial performance, which has been underwhelming. In April, the company reported quarterly earnings numbers that didn't meet expectations, and the company also slashed its forecast for the year amid rising costs. For the full year, it now expects adjusted earnings per share to fall within a range of $26 to $26.5 -- a sharp reduction from its earlier projection of $29.5 to $30. UnitedHealth stock fell after those results, with reports of criminal wrongdoing sending its shares tumbling even further. If there's a criminal probe into the company's practices, that can potentially be the most alarming issue for investors to worry about. It can affect how the company operates and result in fines. In the longer run, it may even lead to more oversight, resulting in added complexity and increased costs for the business, potentially exacerbating the problems UnitedHealth is facing today. A change in CEO may have been inevitable at this stage. Whether Witty was feeling pressure, was pushed out, or left for some other reason isn't known, but a change in management may be the least surprising result out of all this controversy. But now, let's turn to the positive. UnitedHealth plays an important role in the healthcare industry, serving more than 52 million people. And although the company's financials may not be impressing investors of late, they are still strong. In the past four quarters, UnitedHealth reported $22 billion in net income on revenue totaling $410 billion. And during that stretch, its free cash flow came in at just under $25 billion. The company's robust earnings and cash flow put it in a good position to weather the current storm, as daunting as it may appear right now. Although it may not be an easy path forward, between its strong numbers, its leading position in the health insurance industry, and its previous CEO coming back on board, I'm optimistic that UnitedHealth can recover from the challenges that lay ahead. UnitedHealth stock is down big this year, and it hasn't been trading at these prices since mid-2020. The market has punished the stock not only for poor numbers but also for the uncertainty that lies ahead, not only with what may happen due to the reported criminal probe but also for the potential for broader healthcare reform. How this will all play out is a big question mark, but that certainly doesn't mean the business is doomed. While I wouldn't want to understate the seriousness of UnitedHealth's troubles, investors appear to already be bracing for the worst, and there may be a potential overreaction to these developments, especially with all this bad news coming at the same time. At 12 times earnings, UnitedHealth stock trades at a fairly low price-to-earnings (P/E) ratio. That is well below its five-year average of 25. Given the significant discount, I believe there's a good margin of safety here, and the stock has fallen enough that it may be worth taking a chance on. This isn't a short-term trade by any stretch, but if you're willing to be patient, this could be a good contrarian investment to consider today. Before you buy stock in UnitedHealth Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and UnitedHealth Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor's total average return is 982% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 David Jagielski has no position in any of the stocks mentioned. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy. UnitedHealth Group Stock Is Near 5-Year Lows: Is It a Bargain Buy? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
2 days ago
- Business
- Associated Press
Class Action Filed Against UnitedHealth Group Incorporated (UNH) - July 7, 2025 Deadline to Join – Contact Levi & Korsinsky
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in UnitedHealth Group Incorporated ('UnitedHealth Group Incorporated' or the 'Company') (NYSE: UNH) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of UnitedHealth Group Incorporated investors who were adversely affected by alleged securities fraud between December 3, 2024 and April 16, 2025. Follow the link below to get more information and be contacted by a member of our team: UNH investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) UnitedHealth had, for years, engaged in a corporate strategy of denying health coverage in order to boost its profits, and ultimately, its share price; (2) this anti-consumer strategy resulted in regulatory scrutiny against UnitedHealth, which ultimately resulted in the murder of Brian Thompson; (3) animus towards UnitedHealth was such that, subsequent to the murder of Mr. Thompson, many Americans openly celebrated his demise, expressed admiration for his accused killer, and/or otherwise demanded that UnitedHealth change its strategy even if they condemned Mr. Thompson's killing; (4) the foregoing regulatory and public outrage caused UnitedHealth to change its corporate practices; (5) notwithstanding the foregoing, UnitedHealth recklessly stuck with the guidance it issued the day before Thompson's murder, which was unrealistic considering the Company's changing corporate strategies; and (6) as a result, defendants' public statements were materially false and/or misleading at all relevant times. WHAT'S NEXT? If you suffered a loss in UnitedHealth Group Incorporated during the relevant time frame, you have until July 7, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171
Yahoo
3 days ago
- Business
- Yahoo
UnitedHealth Group has an unusual new CEO pay package
In today's CEO Daily: Geoff Colvin on UnitedHealth Group's controversial CEO pay package. The big story: U.S.-China trade talks stall. The markets: Mixed in the face of tariff uncertainty. Analyst notes from UBS, Deutsche Bank, and Macquarie. Plus: All the news and watercooler chat from Fortune. Good morning. Geoff Colvin writing today. It has been quite a year for UnitedHealth Group (UHG)—and now in addition to myriad other troubles, UHG is adding a controversial CEO pay package to its plate. The giant healthcare concern has seen an unprecedented loss of value recently. UHG is America's largest healthcare company, No. 3 on the Fortune 500, but in April it reported a surprisingly terrible first-quarter performance. The stock price plunged, then kept plunging for weeks. CEO Andrew Witty resigned abruptly for unspecified personal reasons, and the board chairman, Stephen Hemsley, took over as CEO. Hemsley, who turns 73 in June, will be trying to rescue the colossus he helped build as CEO from 2006 to 2017. While investors might have expected he would hold the job only until a new CEO is found, Hemsley and the board have other ideas. The highly unusual pay package they created for him shows how. He will get a base salary of $1 million a year—big money but actually below the usual salary for CEOs of such large companies. More importantly, he would get a one-time $60 million grant of stock options, with a twist: He would get the payoff only if he remains CEO for three years. He would get no other stock-based awards in that period. Shareholders will get to vote on that unconventional pay plan at UHG's June 2 annual meeting. Institutional Shareholder Services (ISS), the largest firm that advises major shareholders on how to vote, advises they vote No. They cite a lack of performance criteria and the fact that the stock is so beaten down he might get a windfall for a mere share price rebound. UHG struck back, sending shareholders an explanation of what ISS allegedly missed and why they should vote for Hemsley's pay package. Bottom line, Hemsley and UHG will probably get the pay package they negotiated. ISS's recommendations are taken seriously, but shareholders usually vote in favor of management. Even if UHG loses the vote, which companies must hold by law, the result is non-binding and advisory only; the board of directors could simply ignore the shareholders' wishes. In addition, UHG notes that ISS's main competitor, Glass Lewis, is recommending shareholders vote in favor of Hemsley's pay package. Regardless of the outcome, the contested vote will be significant. It will raise the already high stakes for UHG, its directors, and for Hemsley. More news CEO Daily via Diane Brady at This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
