United Health Group's 4Q profit rises 30 percent

Source: Associated Press


UnitedHealth Group's 4Q profit rises 30 percent
AP

By TOM MURPHY, AP Business Writer Tom Murphy, Ap Business Writer – 42 mins ago

INDIANAPOLIS – Managed care company UnitedHealth Group said Thursday its fourth-quarter profit jumped 30 percent on higher premium revenue compared to the final quarter of 2008, when the insurer incurred a hefty legal settlement charge.

The Minnetonka, Minn., insurer earned $944 million, or 81 cents per share, in the three months that ended Dec. 31. That's up from $726 million, or 60 cents per share, in the same period of 2008.

At the end of 2008, UnitedHealth incurred a charge of 18 cents per share to resolve a class-action lawsuit over out-of-network medical services. The insurer paid $350 million to settle litigation involving pricing databases operated by its Ingenix subsidiary.

For the final quarter of 2009, revenue rose 6.5 percent to $21.78 billion. A 6.2 percent jump in premium revenue to $19.7 billion accounted for

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