(Bloomberg) – Unitedhealth Group Inc. shares fell. Early on Friday after a report that the U.S. Department of Justice had begun to investigate the insurer's billing practices in recent months.
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The department's civil fraud probe looks at how UNITEDHealth records diagnoses leading to higher payments from the Medicare Government advantage, the Wall Street Journal reported, noting people familiar with the issue.
Unitedhealth's shares fell as much as 8.9% before US markets opened. They had lost 0.7% this year through Thursday closely.
The government has been scrutinizing costs at Medicare Advantage, a privately administered version of Medicare's Senior Health Program. Medicare Congressional councilors have raised concerns about how the program can be treated, declaring “an urgent need for a major refurbishment,” in a 2024 report.
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