UnitedHealth 1Q Profit Dips 14%

UnitedHealth Group, the Minnetonka, Minn.-based parent of the nation's largest health insurer, UnitedHealthcare, saw its first quarter earnings fall 14.4 percent to $1.19 billion compared with last year's first quarter total of $1.39 billion.

Total revenue for the quarter grew 11 percent year-over-year to $30.3 billion across all sectors of its business. About 1.1 million more people enrolled for coverage, and the company suffered a roughly 13 percent rise in medical costs over last year.

The company secured a contract with the military health plan Tricare adding 2.9 million beneficiaries to its enrollment beginning April 1, 2013, just after the first quarter closed March 31.  

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