Shares in UnitedHealth Group (NYSE:UNH) were up Friday on a company report that its revenue is up 8 percent over last year “led by increases in government-sponsored benefit program revenues.”
The stock closed up 42 cents per share (0.76 percent) to $55.41.
“The Government Accountability Office affirmed the Department of Defense TRICARE award to UnitedHealthcare,” the company reported. “Under a contract for five years of service beginning in mid-2013, UnitedHealthcare Military & Veterans will serve the Department of Defense and nearly 3 million active duty or retired military service personnel and their families.”
“During the past 12 months, the Company expanded its Medicaid services to 370,000 more beneficiaries, including 210,000 people in the second quarter” the report said. “Second quarter growth was led by strong enrollment from Louisiana’s recently launched Medicaid program. Recent awards in Hawaii, Washington, Ohio and Kansas are expected to add to growth over the next year.”
The company said the future looks promising for their business, but among the unknowns is the full impact of the Patient Protection and Affordable Care Act
via UnitedHealth Group revenue grows 8 percent – National Stock Market | Examiner.com.