Health insurers have continued to report strong revenues and profits for the second quarter of 2026, beating analysts’ expectations.
UnitedHealth Group
UnitedHealth Group reported profits of $5.5 billion for the second quarter, up sharply from $3.4 billion in profits in the prior year quarter, and revenues of $112 billion.
UnitedHealth Group’s performance was driven in part by strong results at UnitedHealthcare, its insurance division. UnitedHealthcare reported second quarter revenues of $86 billion, with revenues from operations of $3.9 billion, a 90% increase over the prior year quarter. UnitedHealthcare also reported that its medical cost ratio had decreased from 89.4% to 86.7% in the second quarter, meaning that fewer premium dollars went to medical care. Unfortunately, the attorneys at Whatley Kallas, LLP are seeing health insurance companies deny and underpay legitimate claims submitted by our provider clients for medically necessary services provided to the insurers’ members. United’s lower MCR has increased its profits.
United’s financial results exceeded analysts’ expectations. As a result of its strong results, United increased its earnings guidance for the year to $19.50 to $20 a share, up from previous guidance of $18.25 a share.
Elevance Health (Anthem)
Elevance Health, Inc. reported strong second quarter 2026 profits of $1.5 billion and strong first quarter revenues of $49.8 billion, beating analysts’ expectations. In a press release Elevance Health’s President and Chief Executive Officer Gail K. Boudreaux stated: “Our second quarter results exceeded our outlook, supported by disciplined execution and improved operating performance across our diversified portfolio.” On an earnings call, Elevance attributed the quarter’s performance to favorable benefit expenses in Medicare Advantage and the individual ACA market. As a result of its strong performance, Elevance Health raised its full year guidance to at least $27 a share.
Elevance Health is the largest Blue Cross and Blue Shield licensee, operating Blues plans in fourteen states.
CVS Health (Aetna)
CVS Health Corporation reported strong second quarter 2026 profits of nearly $3 billion, almost tripling its $1 billion in profits from the prior year quarter. It also reported strong second quarter revenues of $89.8 billion. Both its profits and revenues exceeded analysts’ expectations.
Revenues were also up at its Health Care Benefits segment, which includes Aetna. CVS Health reported that this segment’s second quarter revenues were $37.5 billion. CVS Health reported that the increased revenues in this segment was due primarily to growth in its government plans, which include Medicare Advantage plans.
As a result of its strong results, CVS Health raised its guidance from between $7.30 and $7.50 to between $7.90 and $8.10.
The Cigna Group
Cigna likewise reported strong second quarter profits of $1.7 billion, an increase of 8% over the prior year quarter. Cigna also reported strong revenues of $71.7 billion for the quarter, up from $67.2 billion in the prior year quarter. Cigna’s results exceeded analysts’ expectations.
Cigna’s strong results were due in large part to Cigna Healthcare, Cigna’s health insurance division, which reported revenues of $11.9 billion, up 9% from the prior year quarter.
As a result of its strong results, Cigna increased its full year earnings guidance to at least $30.45 a share, an increase of $.10.
Humana
Humana reported strong second quarter revenues of $40.9 billion, up from $32.4 billion in the prior year quarter, a 26% increase. Humana reported second quarter profits of $694 million, beating analysts’ expectations.
Humana’s strong results were driven primarily by an increase in enrollment in its Medicare products, with a total Medicare membership of 11.1 million, up from 8.2 million in the prior year quarter.
When health insurers deny and downcode medical providers’ claims, they increase their bottom lines.