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UnitedHealth former CEO made big bets on Medicare enrollees, WSJ says

Back in February, UnitedHealth (UNH) CEO Andrew Witty told top executives that business was good and many were happy with how smoothly the new Medicare coverage rollout was going, Anna Wilde Mathews and Christopher Weaver of The Wall Street Journal reports. Two months later, however, Medicare patients would be at the center of a financial meltdown, with the company announcing disappointing profits and withdrawing its FY25 guidance. The company’s aggressive business practices, regulatory changes, and higher costs for Medicare patients contributed to its financial decline. Witty, lacking experience in the U.S. insurance experience, was subsequentially replaced by the company’s chairman Stephen Hemsley.

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