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Medical Care

UnitedHealthcare's Profits: Impact of Pandemic vs. Denials

2024-12-07

The profits of UnitedHealth Group's health insurance business, UnitedHealthcare, witnessed a remarkable surge during the pandemic. However, as the Covid-19 pandemic subsided and medical costs began to rise due to increased care seeking by Americans, this growth has tempered. In the wake of the tragic shooting death of UnitedHealthcare's chief executive, Brian Thompson, a spotlight was shone on health insurer denials of medical care. Critics claim that health insurers' slow-walking of medical treatment approvals and outright denials of procedures and other care have led to greater profits. But it was not long after the coronavirus hit the U.S. in 2020 that health insurance company profits began to soar. With lockdowns, office closures, and limited doctor appointment windows, people were not seeking care, resulting in more money for the insurance companies.

Trends during the Pandemic and Beyond

The U.S. public health emergency played a significant role in keeping record numbers of people covered by Medicaid and offering enhanced subsidies for more Americans to afford individual Obamacare coverage. These trends helped most health insurers achieve record profits. UnitedHealth Group, for instance, reported net income of $22.3 billion last year, with $20.6 billion in 2022, $17.3 billion in 2021, and $15.4 billion in 2020. Before the pandemic, in 2019, it made $13.8 billion.Despite the rising profits, financial reports show that the company is spending more on medical care. In 2020, the full year medical care ratio of 79.1% declined from 82.5% in 2019 due to disrupted care patterns. As the pandemic wore on and more people returned to seeking medical care, this percentage gradually rose. In 2021, it was 82.6%, in 2022 it was 82.0%, and in 2023 it rose to 83.2%. In the fourth quarter of last year, it reached as high as 85%. In 2024, the third quarter medical care ratio was 85.2% compared to 82.3% last year.The higher medical expenses have also affected UnitedHealth's rivals, such as Humana and CVS Health's Aetna. These companies have seen historic spikes in costs, particularly in their Medicare Advantage plans, as seniors are seeking more medical care than in the past. "The sector is navigating significant regulatory changes while also absorbing unprecedented increases in medical cost trends," Humana said in January.UnitedHealth's annual medical costs were $210.8 billion in 2022 and rose to $241.9 billion in 2023 when President Biden ended the U.S. Public Health Emergency in May. In the first nine months of this year, UnitedHealth medical costs were $197 billion and are on track to be even higher than last year.These changes in medical costs and profits highlight the complex dynamics at play in the health insurance industry. As the post-pandemic era unfolds, it will be interesting to see how these trends continue to shape the industry and the financial performance of health insurance companies.

Governor Gavin Newsom has made a significant announcement regarding the establishment of a new port of entry at the California-Mexico border. This move is set to bring about numerous benefits and changes to the region.

Transforming Border Trade with a New Port of Entry

Construction Timeline and Impact

Construction is scheduled to commence in January 2025, with the goal of completing the new port by December 2027. This new crossing is expected to have a profound impact on international trade. As Newsom stated, it will support the growth of trade between California and Mexico, reducing wait times for businesses and workers. The existing ports, such as the San Ysidro and Otay Mesa ports, are already stressed to the limit, with people waiting for hours on foot or by vehicle. The new port is seen as a solution to these issues, enabling a more efficient flow of goods and people.According to SANDAG, trade between the U.S. and Mexico through our land ports of entry was valued at more than $88 billion last year. This highlights the importance of this border region for economic activities. The new Otay Mesa East Port of Entry is expected to boost California's economy by facilitating the sale of American goods to Mexico more efficiently. It will create jobs and lower costs for California consumers, while also enhancing public safety through the governor's new CalGuard initiative.

Benefits for the Region

Joaquín Luken, who grew up crossing the border between San Diego and Tijuana, understands the significance of this new development. He works for the Smart Border Coalition and has seen firsthand the challenges at the existing ports. The San Ysidro Port of Entry is one of the busiest land crossings in the world, and the Otay Mesa Port is the busiest commercial vehicle crossing in California. The new crossing will provide much-needed relief and open up new opportunities for the region.Manuel Pastor, a professor at the University of Southern California, emphasizes the various ways in which expanding crossing capabilities will benefit the area. He points out that it could lead to a boost in Mexican manufacturing and the export of goods to the United States, including essential auto parts. This will strengthen economic ties between the two countries and contribute to the growth of the region.

Excitement and Anticipation

Luken is excited about the potential of this new crossing for the growth of the region. Having grown up in Tijuana and crossing the border all his life, he sees this as a significant milestone. It will be the first new port of entry in his lifetime, and he believes it will have a positive impact on the community.Governor Newsom's commitment to completing the new crossing by December 2027 shows the importance he places on this project. It is a decades-long effort that aims to address the needs of the border region and promote economic development. With the new port of entry, California is poised to take a significant step forward in its relationship with Mexico.

Apple's iPhone software has witnessed a remarkable transformation over the years, granting users extensive customization options. From the lock screen to the home screen, every aspect can be tailored to one's liking. This evolution has not only enhanced the visual appeal but also introduced convenient tools for seamless adjustments.

Revolutionize Your iPhone Home Screen with iOS 18's Customization

1. Customizing the Look of Your iPhone's Home Screen

Over the years, Apple has made significant strides in making the iPhone software more customizable. Users can now change the look of everything, from the lock screen to how apps appear on the home screen. This customization extends to the widgets as well, providing a plethora of options to enhance the home screen experience. 1: The addition of customization features has been a game-changer. It allows users to personalize their devices and make them truly their own. Whether it's choosing a different widget size or rearranging app icons, the possibilities are endless. 2: Take, for example, the ability to reconfigure the size and shape of widgets. With just a few simple taps, users can transform a square widget into a rectangle or a super-sized block. This flexibility enables them to display more information or free up space as per their preferences.

2. The New Widget Editing Feature in iOS 18

The new widget editing feature, which arrived as part of this year's iOS 18 update, has been a hidden gem. Many users might have overlooked it while focusing on other aspects of the operating system. However, it offers a convenient way to adjust the look of on-screen widgets. 1: When playing around with the home screen layout, this feature comes in handy. It allows users to fine-tune the size and shape of widgets without having to go through complex settings. It's a time-saving tool that adds a touch of personalization to the home screen. 2: For instance, in iOS 14, Apple introduced the ability to add widgets to the home screen. These widgets provide quick access to important information, such as weather updates or email notifications. With the new editing feature, users can customize the appearance of these widgets to match their style.

3. Resizing Widgets with Ease

Resizing widgets in iOS 18 is a straightforward process that saves time and effort. Users can choose from different sizes, including squares, rectangles, and super-sized blocks, to suit their needs. 1: To resize a widget, simply go to the home screen featuring the widget and tap and hold on it. A pop-up menu will appear, giving options to edit the widget, remove it, or edit the entire home screen. Select the option to edit the widget and choose the desired size. 2: The moment you select a screen-size option, the widget will reconfigure itself instantly. If you're not satisfied with the result, you can tap and hold again to bring back the pop-up menu and try another size. This flexibility allows users to experiment and find the perfect widget size for their home screen.

4. Shortcut for Converting App Icons to Widgets

In addition to resizing existing widgets, iOS 18 also offers a handy shortcut for converting app icons into widgets. This feature provides even more customization options and allows users to display app-related information directly on the home screen. 1: By tapping and holding on app icons, users can access options for different widget sizes. This enables them to quickly transform an app icon into a useful widget without the need for additional setup. 2: For example, in the above screen, tapping and holding on the IMDB and YouTube icons revealed options for different widget sizes. This allows users to have quick access to their favorite apps and information without having to open the apps separately.Looking for more iOS 18 how-tos? We also have a guide on how to customize the iOS 18 Photos app and how to use the Maps app in iOS 18. Discover the hottest deals, best product picks and the latest tech news from our experts at Tom's Guide.