UnitedHealth Group saw its revenue and net income increase in the second quarter of 2019, buoyed by growth in its Medicare and Optum lines.
UnitedHealth recorded total revenues of $60.6 billion in the second quarter ended June 30, up 8 percent from $56.1 billion in the same quarter a year prior, according to financial documents. Double-digit revenue growth in its UnitedHealthcare Medicare and Retirement, OptumRx, and OptumHealth lines led the increase.
UnitedHealth’s health insurance arm, UnitedHealthcare, saw some of its largest revenue gains in its Medicare Advantage and retirement segment, which grew $2 billion year over year. UnitedHealthcare’s Medicare Advantage products grew to serve an additional 400,000 members year over year.
Optum brought in $28 billion in revenue for UnitedHealth in the second quarter of 2019, up $3.3 billion year over year.
UnitedHealth’s operating costs also increased year over year to $55.9 billion in 2019, up 7.7 percent from $51.9 billion. After accounting for expenses, UnitedHealth ended the second quarter with net income of $3.3 billion, up 12.7 percent from $2.9 billion recorded in the same quarter of 2018.