Medical costs are up, UnitedHealthcare exec says

UnitedHealthcare is seeing rising utilization as more older adults seek out services they delayed during the COVID-19 pandemic, Barron's reported June 14. 

Older adults are more comfortable accessing services as pandemic fears subside, Tim Noel, CEO of Medicare and retirement at UnitedHealthcare, said June 14 at the Goldman Sachs Global Healthcare Conference. 

The company is anticipating its medical cost ratio for the second quarter to be at the high end or exceed its full-year estimates, Barron's reported. 

UnitedHealthcare's medical cost ratio was 82.2 percent in the first quarter of 2023. 

Share prices dipped for UnitedHealthcare and other payers following Mr. Noel's remarks, Barron's reported. 

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