MINNETONKA, Minn. (AP) -- UnitedHealth Group is the latest company to detail the hit its business will absorb from the health care overhaul.
The nation's largest health insurer said Tuesday it expects to pay as much as $1.9 billion in taxes and fees imposed by the law next year and to absorb a funding cut for a key product, Medicare Advantage plans, which are privately run versions of the government's Medicare program for the elderly and disabled people.
All told, it expects the overhaul to take a $1.1 billion bite out of its after-tax operating earnings in 2014.
Minnetonka, Minn.-based UnitedHealth detailed these hits on Tuesday at its annual investor conference in New York, a day after it released an initial forecast for 2014 earnings that fell short of analyst expectations.
All content © Copyright 2001 - 2014 WorldNow and KTTC, a Quincy station.
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Jodi Neyens at (507) 280-5104. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at email@example.com.