UnitedHealth Group Inc. expects to meet Wall Street’s loftier expectations for 2023 profit after the health insurer raised its annual profit forecast for the third time on Friday, helped by lower COVID-19 costs.
An industry bellwether and the first health insurer to report third-quarter earnings set a positive tone with its 2022 forecast raise and quarterly profit beat, sending its shares up nearly 3 percent and lifted rivals including Humana Inc. and Cigna Corp.
UnitedHealth says the direct impact of COVID-19—which has led to fluctuations in health insurers’ medical costs—is expected to ease next year, while recovery in non-urgent procedures could slow due to inflation and labor shortages….