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UnitedHealth’s 1Q profit tumbles 8 percent
San Francisco Chronicle

UnitedHealth Group’s first-quarter net income slid 8 percent as funding cuts to a key product and costs imposed by the health care overhaul dented the health insurer’s performance.

The Minnetonka, Minn., company said Thursday the overhaul and government budget cuts added about 35 cents per share in costs during the quarter. The federal law aims to provide coverage for millions of uninsured people, but it also trims funding for Medicare Advantage plans, changes how insurers can write their coverage and adds an industry-wide tax, which is not deductible.

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