The nation's largest health insurers have suitable credit ratings to withstand mounting cost pressures driven by growing drug shortages, rising pharmaceutical costs and higher utilization of services post-pandemic, according to Fitch Ratings.
Fitch analysts shared with Becker's June 22 that elective procedures and other deferred medical services are on the rise, driving cost pressures for payers and higher premiums and out-of-pocket costs for members.
Most recently, Humana and UnitedHealthcare said they anticipate medical loss ratios to be at the top end of full-year projected ranges. Humana said June 16 it expects a year-end MLR of 86.3 percent to 87.3 percent.
Humana's statement came two days after Tim Noel, CEO of Medicare and retirement at UnitedHealthcare, said the company is seeing rising utilization as more older adults seek out services they delayed during the COVID-19 pandemic.