Tenet Predicts Other Insurers Will Absorb UnitedHealth’s Share Of Exchange Market
The hospital operator downplayed the effect UnitedHealth's departure from many Affordable Care Act marketplaces will have, saying insurers are expected to make adjustments.
Tenet Sees Competitors Picking Up UnitedHealth Exchange Business
Tenet Healthcare Corp, the third-largest U.S. for-profit hospital operator, expects other insurers to step in and absorb UnitedHealth Group Inc's share of the exchange market when the largest U.S. health insurance provider exits that business, company executives said on Monday. UnitedHealth, one of the biggest sellers of plans on the exchanges, last month said it would exit the Obamacare individual insurance market in most states next year, citing losses from the program. (Kelly, 5/2)
The Wall Street Journal:
Tenet Healthcare Hurt By Lawsuit Costs, Helped By Decline In Uninsured
Tenet Healthcare Corp. swung to an unexpected first-quarter loss as the hospital operator increased a reserve for a potential resolution of a whistleblower lawsuit that alleges the company’s Georgia hospitals took part in a kickback scheme. However, shares rose 4.6% to $33.10 in recent after-hours trading as per-share earnings, excluding certain one-time items, were mostly above expectations and revenue topped estimates. (Stynes, 5/2)