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UnitedHealth expects falling rolls, steady profit
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UnitedHealth Group Inc., the largest U.S. health insurer, forecast a net decline in enrollment this year as more Americans lose their jobs and competitors cut prices to retain customers.
The company reiterated its forecast of 2009 adjusted earnings per share of $2.90 to $3.15, however, and said operating earnings would range from $6 billion to $6.4 billion, compared with the average analyst estimate of $6 billion.
The company said it expects the number of customers who buy coverage through employers or on the open market to decline by 1 million to 1.5 million. UnitedHealth Group enrolls 26 million people.
Membership in the government's Medicare and Medicaid programs will increase by 550,000 to 675,000. The Minnetonka-based company made its projections in documents released Monday at the J.P. Morgan Healthcare Conference in San Francisco.
The insurer said it will benefit from plans for a financial stimulus package announced by President-elect Barack Obama.
UnitedHealth's shares fell 83 cents, or 3.1 percent, to $25.62 at 4:01 p.m. in New York Stock Exchange composite trading.
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