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This fact brief was originally published as an experiment to test the concepts behind fact briefs.
Readers should be aware that while there is still a lot of useful information in fact briefs like this one, not all of them reflect Gigafact's current methods and standards for fact briefs. If you come across any that you feel are out of date, don't hesitate to contact us at support@gigafact.org.
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FACT BRIEF

Did health insurance profits surge in 2020's second quarter?

By Samuel Henning
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YES

Health insurance providers saw strong profit growth in the second quarter. Cancellations of elective surgeries and doctor's appointments because of the coronavirus reduced medical claims, saving billions of dollars. UnitedHealth Group, the country's biggest health insurer, saw its profits double from the same quarter last year. CVS Health's insurance profits tripled from the year-earlier period, although that was offset by lower profits in its retail drugstores. Anthem's profit doubled.

But analysts aren't sure how long the profit gains will last. Patients are beginning to reschedule their doctor's appointments and elective surgeries. The deferred care may have also increased the severity of patients' medical needs, while some patients are also experiencing secondary effects from the virus.

This fact brief is responsive to conversations such as this one.
Sources
United Health Group: Second quarter results
CVS Health: Second quarter results
Anthem: Second quarter results
Bloomberg Law: Virus pushes health insurance profits ‘significantly’ higher
ABOUT THE CONTRIBUTOR
Gigafact
Between 2020 and 2022, under close editorial supervision, Gigafact contracted a group of freelance writers and editors to test the concepts for fact briefs and provide inputs to our software development process. We call this effort Gigafact Foundry. Over the course of these two years, Gigafact Foundry writers published over 1500 fact briefs in response to claims they found online. Their important work forms the basis of Gigafact formats and editorial guidelines, and is available to the public on Gigafact.org. Readers should be aware that while there is still a lot of relevant information to be found, not all fact briefs produced by Gigafact Foundry reflect Gigafact's current methods and standards for fact briefs. If you come across any that you feel are out of date and need to be looked at with fresh eyes, don't hesitate to contact us at support@gigafact.org.
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About fact briefs published on Gigafact
Fact briefs are short, credibly sourced summaries that offer “yes/no” answers in response to claims found online. They rely on publicly available, often primary source data and documents. Fact briefs are created by contributors to Gigafact —a nonprofit project looking to expand participation in fact-checking and protect the democratic process. See all fact briefs here.