UnitedHealth Group Inc., the largest U.S. health insurer by sales, said it will buy XLHealth Corp., a provider of managed care for chronically ill Medicare members, to strengthen a growth area likely to gain increasing support from the U.S. government as it trims costs.
UnitedHealth Group Inc. will offer coverage in just a dozen of the U.S. health-care law’s new insurance exchanges, in the latest sign big insurers see little gain from quickly plunging into the new markets.
Catamaran Corp., the fourth-biggest drug-benefits manager, fell the most in three months after a Wedbush Securities report suggested the company may not have a chance to buy Cigna Corp.’s pharmacy plans.
Cigna Corp., the third-biggest health insurer by market value, raised its forecast for 2013 profit and said fourth-quarter earnings swelled 49 percent, boosted by higher enrollment in its Medicare plans for seniors.
Four health insurers led by Cigna Corp. have asked the Obama administration to exempt medical plans they sell to Americans overseas from the 2010 health law, saying a denial may imperil about 1,100 U.S. jobs.
UnitedHealth Group Inc ., the biggest U.S. insurer by sales, said 2011 profit may decline because of rising medical costs and the U.S. health-care overhaul. The forecast sent the company’s shares down the most in two months.