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UnitedHealth Group Inc.

How a huge insurance company screwed up on Obamacare

How a huge insurance company screwed up on Obamacare

UnitedHealth Group is the nation's biggest private health insurer, so when its executives started whining last year about how it was losing millions on Affordable Care Act exchange plans and threatened to leave the ACA market as early as 2017, people took notice. 

Even Obamacare devotees wondered whether United's experience signaled deeper problems with the ACA exchanges generally. Obamacare's critics gorged on United's words and still do: As recently as last week, the Wall Street Journal's editorial writers lamented that "the ObamaCare money-pit sunk [United's] year-over-year profit margin to 3.7% from 4.3%." They blamed, among other things, the ACA's...

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