The CEOs of the Big Five for-profit health insurance companies all took home at least $10 million in 2014, according to each insurers' annual filings with the Securities and Exchange Commission.
Things are good for the top three health insurers right now, at least financially speaking. Aetna, UnitedHealth and WellPoint all released third quarter reports that surpassed expectations and provided more evidence that the Affordable Care Act is generally good for business.
Consumers will be the most important factor in how the healthcare industry evolves and how organizations use health information technology, UnitedHealth Group President and CEO Stephen Hemsley said Monday at the American Telemedicine Association's annual meeting in Baltimore.
Boosted by almost 10 million new members, UnitedHealth's revenue and profits rose during the second quarter.
Industry analysts received their biggest clue as to whether big insurers would jump headfirst into online marketplaces thanks to several states that have released the names of the insurers that will submit plans to sell on their health insurance exchanges, Bloomberg reported.
Although the U.S. Department of Health & Human Services issued a 3 percent increase in Medicare Advantage payment rates a few weeks ago, UnitedHealth is reassessing its outlook for the program.
UnitedHealth saw its revenue rise 11 percent to $28.8 billion for last year's fourth quarter, while its profits dropped just slightly by 1 percent to $1.24 billion.
UnitedHealth and Mayo Clinic have agreed under a new partnership to combine their data for more than 110 million patients to help research methods to improve healthcare while lowering costs.
UnitedHealth Group projected it will increase its earnings by 5 percent next year while adding up to 4 million new members--both of which fall below Wall Street analysts' expectations.
UnitedHealth Group's third-quarter profits climbed 23 percent to $1.56 billion, primarily because of its growing Medicare and Medicaid plans and its Optum health services business.