What Happened To UnitedHealth Stock Today?

UnitedHealth Group Inc UNH shares moved higher Monday after the U.S. Department of Health and Human Services released finalized Medicare payment policies late last week. 

What Happened: Through the Centers for Medicare & Medicaid Services, the U.S. Department of Health and Human Services released the 2024 Medicare Advantage and Part D rate announcement Friday, per a HHS press release.

The Centers for Medicare & Medicaid Services anticipates a 3.32% payment increase for Medicare plans from 2023 to 2024, representing approximately $13.8 billion in increases in Medicare Advantage payments for next year.

"We are committed to ensuring private companies are holding up their end of the deal to provide quality care to beneficiaries and that payments to these companies are accurate. Together with President Biden’s Budget, this update protects Medicare for beneficiaries today and beyond 2050," said Xavier Becerra, U.S. Department of Health and Human Services Secretary. 

See Also: Best Healthcare Stocks Right Now

Why It Matters: UnitedHealth is one of the largest private health insurers. In the U.S., UnitedHealth offers a full range of health benefit programs for individuals, employers and Medicare and Medicaid beneficiaries. The company works directly with more than 1.5 million physicians and care professionals, as well as 7,000 hospitals and other care facilities.

UNH Price Action: UnitedHealth shares began rising after the market close on Friday and continued higher during Monday's session.

The stock closed Monday up 4.57% at $494.18, according to Benzinga Pro.

Photo: courtesy of UnitedHealth.