The nation’s largest payers have filed their first-quarter earnings reports, revealing which recorded the largest profits in the first three months of 2025.
1. UnitedHealth Group: $6.3 billion
Total net earnings in the first quarter were nearly $6.3 billion. UnitedHealthcare’s total earnings from operations were $5.2 billion.
2. Elevance Health: $2.2 billion
Total net income in Q1 was nearly $2.2 billion. The insurance division reported a total operating gain of $2.2 billion.
3. CVS Health: $1.8 billion
Total net income in Q1 was $1.8 billion. Aetna reported an adjusted operating income of nearly $2 billion in Q1.
4. Centene: $1.3 billion
5. Cigna Group: $1.3 billion
Total net income in Q1 was $1.3 billion. The insurance side of the business, Cigna Healthcare, reported an adjusted operating income of nearly $1.3 billion.
6. Humana: $1.2 billion
Total net income totaled $1.2 billion. The company’s insurance segment reported an operating income of nearly $1.6 billion in Q1.
