UnitedHealth Group Incorporated ( UNH Quick Quote UNH - Free Report) recently announced that UnitedHealthcare Community Plan of Massachusetts is extending its comprehensive health benefit plan to benefit individuals, who qualify for both Medicare and MassHealth across the state. It is worth mentioning that Medicaid and the Children’s Health Insurance Program (CHIP) are integrated into one program called MassHealth in Massachusetts.
The latest integrated health coverage offered by UnitedHealthcare named UnitedHealthcare Connected for One Care can be availed by adults aged between 21-64 years.
The eligible adults will enjoy some exclusive features offered by the One Care plan, including access to the robust care provider network, health and wellness programs, and prescription drug coverage of the plan. Additionally, it will provide a tailored care plan, which is expected to result in improved health outcomes for dual eligible adults residing across Massachusetts.
The recent initiative reinforces UnitedHealth Group’s consistent efforts to better serve its members through its subsidiaries — UnitedHealthcare and Optum. UNH has been catering to the diversified health needs of the people of Massachusetts for more than two decades. UnitedHealth Group offers employer-sponsored, individual, Medicare and Senior Care Options plans to over 500,000 people throughout the state.
This Zacks Rank #3 (Hold) leading healthcare provider joined forces with several organizations and nonprofits situated in Massachusetts to expand access to vital healthcare and aid the state’s residents lead a healthy life. Initiatives similar to the latest one provide a boost to UnitedHealth Group’s nationwide presence. Access to UNH’s healthcare services and extensive network amid the COVID-19 pandemic induced health woes has provided much needed relief to the state’s residents. This makes the recent initiative a time opportune one as well.
UnitedHealth Group boasts of robust Medicare and Medicaid businesses through which it has been devising cost-effective health plans and reaching out to various parts of the nation. UNH remains committed to delivering whole-person and coordinated care. Several contract wins and renewals have only substantiated the credibility of the healthcare provider’s services. In 2021, some of the states that have chosen UnitedHealth Group for serving their residents include Ohio, Hawaii and Oklahoma. These business wins continue to drive the UnitedHealth Group’s top-line growth.
The Medicare business of UnitedHealth Group continues to benefit on the back of growth in Commercial business and increase in number of people served through individual and group Medicare Advantage (MA) plans. Meanwhile, UNH’s Medicaid business has been gaining momentum from easing of redetermination requirements by states due to the pandemic and a rise in the number of people served via Dual Special Needs Plans. Sound performance of these businesses is expected to drive medical membership of UnitedHealth Group.
Similar to UNH, other players in the medical space such as
Humana Inc. ( HUM Quick Quote HUM - Free Report) , Cigna Corporation ( CI Quick Quote CI - Free Report) and Molina Healthcare, Inc. ( MOH Quick Quote MOH - Free Report) also boast of strong growth in medical membership and have undertaken a plethora of measures to cater to the healthcare needs of people.
Humana continues to witness growing membership and enters into new collaborations or contract extensions with renowned healthcare systems. This has been bolstering HUM’s partner networks and strengthening its U.S. footprint. As of Sep 30, 2021, total medical members increased 3.5% from the prior-year comparable period. For 2021, Humana anticipates individual MA membership to witness an 11% year-over-year improvement.
Cigna has performed well on the back of continuous product expansions, growing membership and new collaborations or contract extensions with renowned healthcare systems. As of Sep 30, 2021, medical customers of CI received a boost from well-performing Select, Individual, International Markets and MA businesses. Cigna remains on track to achieve MA customer growth in the targeted range of 10-15% this year.
Molina Healthcare continues to benefit from factors such as higher premium revenues driven by increased membership and several buyouts. Several contracts such as those in Nevada and Ohio have contributed to the sound performance of MOH. As of Sep 30, 2021, total membership of Molina Healthcare witnessed growth of 20% from the prior-year comparable period, attributable to well-performing Medicare, Medicaid and Marketplace businesses.
Shares of UnitedHealth Group have gained 35.1% over a year compared with the
industry’s rally of 30.6%. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Image Source: Zacks Investment Research
Shares of Humana, Cigna and Molina Healthcare have gained 8.7%, 1.7% and 51.4%, respectively, in a year.