Business

UnitedHealth planning for costly 2018 health insurance tax

Published: 9:10 PM, April 18, 2017

NEW YORK - UnitedHealth Group Inc <UNH.N> Chief Executive Steven Hemsley said on Tuesday that the company is planning for higher 2018 premiums and lower benefits based on the return of an industry wide 3 percent health insurance tax that will raise costs.

Hemsley, speaking on a conference call to investors to discuss first-quarter profit, said that he hopes but does not know if Congress will repeal the tax, which was created under the Affordable Care Act and was on a temporary hiatus in 2017. REUTERS