Two payers reported losses in the first quarter of 2024.
UnitedHealth Group, the largest insurer by revenue, reported a $1.4 billion loss in the first quarter due to the Change Healthcare cyberattack. Cigna reported a $277 million loss, driven by decline in value of VillageMD.
Here's what the largest payers reported in revenue and income in the first quarter of 2024:
Revenue: $99.8 billion, up 9% year over year
Net loss: $1.4 billion, down 125% year over year
UnitedHealthcare
Revenue: $75.4 billion, up 7%
Operating income: $4.4 billion, up 2%
Revenue: $88.4 billion, up 4%
Net income: $1.1 billion, down 48%
Aetna
Revenue: $32.2 billion, up 25%
Operating income: $732 million, down 60%
Revenue: $57.2 billion, up 23%
Net loss: $277 million, down 122%
Cigna Healthcare (insurance)
Revenue: $13.3 billion, up 4%
Operating income: $1.3 billion, up 20%
Revenue: $42.6 billion, up 1%
Net income: $2.2 billion, up 13%
Health benefits division
Revenue: $37.3 billion, no change
Operating income: $2.3 billion, up 6.4%
Revenue: $40.4 billion, up 4%
Net income: $1.2 billion, up 3%
6. Humana
Revenue: $29.6 billion, up 11%.
Net income: $741 million, down 40%
Insurance segment
Revenue: $28.7 billion, up 11%
Operating income: $898 million, down 32%