“This consistent performance underscores the product innovation, benefit stability and high-value seniors have come to rely on from us,” UnitedHealth Group CFO John Rex told investors Jan. 13.
UnitedHealthcare is the nation’s largest Medicare Advantage insurer. In its fourth quarter financial earnings, the company reported 7.1 million MA members. It also provides 4.3 million members with Medicare supplement plans and 3.3 million members with Part D plans.
Investors asked company executives about the potential impact of CMS publishing a final rule on MA risk adjustment data validation, which is a policy change that could have a major impact on 2024 bidding, plan benefit designs and operations. The rule is expected by Feb. 1.
“Risk adjustment is really critical to providing broad and equitable access inside the Medicare Advantage program,” UnitedHealth’s Medicare CEO Tim Noel said. “Also a really important part of ensuring there’s no disincentives for caring for the most vulnerable. We also continue to remain very supportive of additional transparency. Here, that takes the form of more timely and consistent reviews.”
Specifically, Mr. Noel said the company hopes CMS includes a fee-for-service adjuster to directly compare MA and traditional Medicare plans in its audits, and that the agency does not “conduct these audits decades in arrears.”
“The whole MA program is unbelievably successful and a popular program for seniors across the U.S.,” CEO Andrew Witty added. “The biggest proof of that is the number of folks who every single year volunteer to sign up to be part of this program. And we’re seeing another record year of enrollment coming through as we speak.”
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