UnitedHealth Group profit doubles to $6.6 billion with COVID-19 slowdown

UnitedHealth Group's second-quarter profit jumped to $6.6 billion - double the earnings from the same period last year, and far beyond expectations - as the nation's largest health insurer paid out far fewer claims with the temporary shutdown of elective procedures due to COVID-19.

The Minnetonka-based health care giant said Wednesday that profits were substantially higher than normal because of the unprecedented delay in elective and nonemergency procedures, as hospitals and clinics prepared for and responded to the pandemic.

After leveling off in May, COVID-19 cases have begun to spike in several Sun Belt states, resulting in a surge of hospital use. Even so, UnitedHealth Group executives said Wednesday they don't expect another nationwide shutdown of elective health care, projecting instead above-average demand for services during the second half of the year.

https://www.startribune.com/unitedhealth-profit-doubles-to-6-6-billion-with-covid-19-slowdown/571774122/