保险资本占队
Early Years (2014–2016): UNH pulled back
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UNH entered ACA marketplaces but suffered heavy losses.
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It exited most exchange markets by 2017.
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Reason: too many high-risk enrollees → premiums couldn’t cover costs.
Today (2018–2025): UNH is back and profitable
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UNH re-entered ACA markets gradually starting 2018.
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Now participates in 30+ states with strong margins.
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Why profitable now:
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Larger risk pools
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Stabilized pricing
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Increased subsidies → healthier enrollment mix
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Their Optum data services improve cost control
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UNH is now one of the largest and fastest-growing ACA insurers.
