The nation's largest payers have filed their fourth-quarter earnings reports, revealing which recorded the largest revenue in 2022.
1. UnitedHealth Group: $324.2 billion
Total revenue in 2022 was $324.2 billion, up 12.7 percent year over year. In the fourth quarter, revenue was $82.8 billion. UnitedHealthcare's 2022 revenue was $249.7 billion, up 12 percent year over year.
2. CVS Health: $322.5 billion
Total revenue in 2022 was $322.5 billion, a 10.4 percent increase from 2021. Fourth quarter revenue was $83.8 billion. The health benefits segment reported year-end revenue of $91.4 billion, up 11.2 percent year over year.
3. Cigna: $180.5 billion
Total revenue in 2022 was $180.5 billion, up 4 percent year over year. In the fourth quarter, revenue was $45.8 billion. The insurance side of the business reported year-end revenue of $44.9 billion, up 1 percent from the year prior.
4. Elevance Health: $156.6 billion
Total revenue in 2022 was $156.6 billion, a 13 percent increase year over year. In the fourth quarter, revenue was $39.9 billion.
5. Centene: $144.5 billion
Total revenue in 2022 was $144.5 billion, up 14.7 percent year over year. In the fourth quarter, revenue was $35.6 billion.
6. Humana: $92.9 billion
Total revenue in 2022 was $92.9 billion, up 11.8 percent year over year. In the fourth quarter, revenue was $22.4 billion. The insurance segment reported year-end revenue of $88.8 billion.