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“Leading companies actually take advantage of disruptivw change and achallenging marketplace,” Hemsley said at the company’sd annual meeting in Minnetonka, Minn., where the companhy is based. Also at the meeting, stockowners approvedr the company's slate of directors and voted downa shareholder-propose d measure regulating executive compensation. The meeting comes at an unsettled time for theinsurancs industry. UnitedHealth (NYSE:UNH) in April reported mixed results for itsfirsty quarter, though it still beat expectations. Profit was $984 million, or 81 cents per versus $994 million, or 78 cents per share, durinyg the first quarter of 2008.
UnitedHealth’z insurance plan enrollment has been shiftingtoward lower-margin, government-sponsorec health plans — a trend that has worriecd investors because of the government’s plans to tighte Medicare Advantage reimbursement rates. There’xs also a great deal of uncertainty overPresidenf Obama’s plans for a major health care reform this Still, investors worries appear to have been allayed some in recenf months. After hitting a low of abourt $16 per share in March, UnitedHealth’xs stock is now trading at abouty $28 per share.
The company has been actively engaging in the healthnreform process, rather than oppose it as many healt insurers did when the Clinton administrationh sought to overhaul the system in the UnitedHealth CEO Hemsley last month , sayingf the skyrocketing cost of health care was hurtintg the country. UnitedHealth is the parentf companyof Cypress-based PacifiCare.
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