UnitedHealth CEO Stephen Hemsley realized a potential gain of more than $45 million from exercising stock options last year, as the share price of the nation’s largest health insurer topped $100 on the way to setting all-time highs. The 62-year-old executive exercised options to buy 850,000 shares of stock at the end of 2014 at discounts of as much as 56 percent to UnitedHealth’s share price of $102.24 when he exercised the options.
UnitedHealth topped Wall Street expectations for the fourth quarter, and the nation’s largest health insurer brought an optimistic vibe for the new year as it detailed final results from 2014. The Minneapolis-based insurer said Wednesday that it expects stronger enrollment growth from Medicare Advantage plans, a key product that had been pinched by funding cuts in recent years.
The troubled website for Minnesota’s health insurance exchange can’t be completely fixed in time for the March 31 deadline by which all Americans are supposed to have coverage under the new federal law.
A Minnesota-based business will lead the efforts to fix the new government health insurance website, healthcare.gov. The federal government selected Quality Software Services Inc on Friday. The company is owned by Minnetonka-based UnitedHealth’s Optum business.
UnitedHealth Group Inc.’s second-quarter net income rose almost 8 percent, buoyed by steady enrollment growth. The nation’s largest health insurer’s earnings topped Wall Street estimates. It also raised the low end of its full-year earnings forecast Thursday.
UnitedHealth Group says its first-quarter net income dropped 14 percent, as the health insurer’s medical costs climbed, and it booked a smaller gain due to leftover insurance claims.
Insurer UnitedHealth Group Inc. predicts 2013 earnings growth of up to 5 percent compared to its forecast for this year, but analysts have higher expectations.
UnitedHealth Group of Minnetonka plans to market discounted hearing aids to consumers, even non-subscribers.
Standard & Poor’s Ratings Services on Wednesday raised its credit outlook on health insurer UnitedHealth Group Inc. to “positive” from “stable,” saying the company’s financial position has improved compared with its competitors’.