UnitedHealth Group Shares Fall After WSJ Reports of Investigation for Possible Medicare Fraud-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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UnitedHealth Group Shares Fall After WSJ Reports of Investigation for Possible Medicare Fraud

Dow Jones05-15

By Connor Hart

Shares of UnitedHealth Group fell after The Wall Street Journal reported that the Justice Department is investigating the company for possible criminal Medicare fraud.

The stock fell 5.1%, to $292.40, in postmarket trading. Through Wednesday's close, shares have lost more than 40% of their value in the past year.

The healthcare-fraud unit of the Justice Department's criminal division is overseeing the investigation, the Journal reported, citing people familiar with the matter. It has been an active probe since at least last summer.

The exact nature of the potential criminal allegations against UnitedHealth is currently unclear, though sources said that the investigation is focusing on the company's Medicare Advantage business practices.

UnitedHealth didn't respond to written questions Wednesday. A DOJ spokesman declined to comment.

The probe adds to a list of government inquiries into the company, and comes after the sudden replacement this week of its chief executive, Andrew Witty, with its chairman and former CEO Stephen Hemsley. Last year, the company faced a hack of a technology unit that disrupted payments to many U.S. health providers for months, and the killing of its top insurance-arm executive.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 14, 2025 19:18 ET (23:18 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Through Wednesday's close, shares have lost more than 40% of their value in the past year. \n\n\n  The healthcare-fraud unit of the Justice Department's criminal division is overseeing the investigation, the Journal reported, citing people familiar with the matter. It has been an active probe since at least last summer. \n\n\n  The exact nature of the potential criminal allegations against UnitedHealth is currently unclear, though sources said that the investigation is focusing on the company's Medicare Advantage business practices. \n\n\n  UnitedHealth didn't respond to written questions Wednesday. A DOJ spokesman declined to comment. \n\n\n  The probe adds to a list of government inquiries into the company, and comes after the sudden replacement this week of its chief executive, Andrew Witty, with its chairman and former CEO Stephen Hemsley. Last year, the company faced a hack of a technology unit that disrupted payments to many U.S. health providers for months, and the killing of its top insurance-arm executive. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 14, 2025 19:18 ET (23:18 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}