Keep pulling the thread on Andrew Witte.
UnitedHealth's CEO, Andrew Witte, stepped down from his position in mid-May.
Following the CEO's departure, Chairman Steve Hemsley was reinstated as chief executive of UnitedHealth.
UnitedHealth is experiencing collapsing profits within its Medicare Advantage program.
New Medicare Advantage rules, known as V28, have tightened billing codes, which reduces reimbursement margins for health insurers.
The new V28 billing rules are negatively impacting the profitability of UnitedHealth's Optum Health division.
Analyst estimates for UnitedHealth's full-year 2025 earnings per share range from $18 to $26, with a consensus estimate of nearly $21.
The U.S. Department of Justice is investigating UnitedHealth's billing practices, an inquiry which the company acknowledged.
UnitedHealth's Optum Health division, which was previously a key competitive advantage, has now become a significant drag on the company's performance.
Health insurers are experiencing higher costs across their government health plans.
UnitedHealth is significantly impacted by rising costs within its Medicare health plans.
UnitedHealth's Optum Health division employs an estimated 90,000 doctors.
UnitedHealth gained a significant number of new patients in its Medicare Advantage plans after competitors, who struggled with the V28 rules last year, reduced the generosity of their benefits.