UnitedHealth Group Inc.’s fourth-quarter net income jumped 20 percent, but the insurer with Hartford operations saw signs of health care use picking up and left its 2012 earnings forecast unchanged, The Associated Press reports.
The Minnetonka, Minn., company said Thursday medical costs, its largest expense, climbed 8 percent to $18.6 billion compared with 2010’s fourth quarter, when utilization hit unusually low levels.
The insurer also saw an increase in its medical-loss ratio, or MLR, which measures the percentage of premiums it spends on medical care.
UnitedHealth said that grew partially because of rebates required under the health care overhaul. A measure that started last year requires insurers to give rebates to customers if they fail to meet minimum MLRs.
