UnitedHealth Group's net earnings in the second quarter of fiscal year 2014 fell nearly 2 percent, from approximately $1.44 billion in 2013 to about $1.41 billion this year.
The health insurer reported $32.57 billion in total revenue for the three months ended June 31, a 7 percent increase from $30.41 billion in the second quarter of 2013. However, total operating costs also rose 7.2 percent, from $28 billion in the second quarter of 2013 to $30 billion in 2014
The effects of the Patient Protection and Affordable Care Act reduced the company's second quarter after-tax margin of 4.3 percent by about 90 basis points. Additionally, the second quarter 2014 income tax rate of 41.3 percent went up by nearly 6 percentage points year-over-year because of the PPACA, according to UnitedHealth.
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