Wall Street To Insurers: Keep Denying Care
A health care industry giant’s Wall Street overlords just admitted that the company’s sky-high health insurance coverage denial rates reaped them enormous profits — and to keep the money flowing, they’re suing to stop the insurer from approving more patient care.
UnitedHealth Group has been facing growing discontent from its investors, a battle that — as the corporation faces mounting public scrutiny over its care denials — could shape the future of health insurance for 29 million people.
A May 7 lawsuit brought by a small-time investor in UnitedHealth Group is one of the latest chapters in the battle, arguing that the company’s tanking stock performance this spring had cost its investors unfairly.