UnitedHealth CEO: Most negative effects from pandemic will recede next year

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Andrew Witty, the new CEO of UnitedHealth Group, said many negative effects felt by the insurer during the COVID-19 pandemic will fade in 2022, according to Bloomberg

Before the start of 2021, UnitedHealth said it expected net earnings of $16.90 to $17.40 per share this year, which included about $1.80 per share in potentially unfavorable effects from increased COVID-19 treatment and testing costs, the residual effect of patients deferring care in 2020 and unemployment.

Mr. Witty said May 11 "the bulk" of those negative effects will fade next year. He made the comment during the Bank of America Securities 2021 Virtual Health Care Conference, according to Bloomberg.

"Our Plan A assumption is that COVID impacts start to recede in 2022," he said.

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