While the nation’s largest health insurer posted a 27 percent increase in third quarter revenue, as reported by the Wall Street Journal, UnitedHealth expects major losses through the ACA’s exchanges. Executives ballpark fourth quarter losses at around $275 million.
According to the company’s press release, revised fiscal expectations for 2015 express a “continuing deterioration in individual exchange-compliant product performance,” and will result in the company scaling back marketing for plans sold on public exchanges.
Shares of the big health insurers started tumbling Thursday after UnitedHealth delivered its update.
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