UnitedHealth Group is reportedly under criminal investigation for potential Medicare fraud, according to the Wall Street Journal. Following this news, the company’s stock dropped 8% in after-hours trading. Earlier this year, a civil fraud investigation into UnitedHealth’s Medicare practices was disclosed. In February, U.S. Senator Chuck Grassley initiated an inquiry into the company’s Medicare billing practices. The Department of Justice (DOJ) has also filed a lawsuit accusing three major U.S. health insurers, including UnitedHealth, of offering kickbacks to brokers to enroll patients in Medicare Advantage plans. These plans cover nearly half of the 65 million individuals enrolled in Medicare, a program for people aged 65 and older or with disabilities.
— new from Reuters
