We support our Publishers and Content Creators. You can view this story on their website by CLICKING HERE.

A group of UnitedHealth Group shareholders is calling on the company to take swift action regarding its tattered brand.

In the wake of suspected assassin Luigi Mangione’s alleged murder of UnitedHealthcare CEO Brain Thompson, critics began railing against United for allegedly limiting and/or delaying access to healthcare.

Evidently, shareholders took note.

“Shareholders request that the Board of Directors of UnitedHealth Group prepare a report, at a reasonable cost and omitting proprietary information, on the public health-related costs and macroeconomic risks created by the company’s practices that limit or delay access to healthcare,” a proposal from them reads.

“At the board’s discretion, shareholders recommend the report evaluate how company practices impact access to healthcare and patient outcomes, including analyses of how often prior authorization requirements or denials of coverage lead to delay or abandonment of medical treatment and serious adverse events for patients,” it continues.

In a supporting statement, the shareholders added that policies “that result in delayed or avoided medical care” risk tarnishing the company’s brand name and “threatening investors’ broader portfolios by increasing consumer debt, jeopardizing the health of policyholders and thereby reducing workforce productivity, straining government resources, and risking increased taxes.”

The shareholders further warned that “while UNH’s policies may boost short-term revenue, its vertically integrated business model and escalating costs disempower patients, create long-term reputational and legal risks for the company and pose broader risks to the economy that, by extension, threaten investors’ total portfolios.”

In a statement of his own, lead shareholder Timnit Ghermay directly mentioned Thompson’s name.

“UNH has been in the media and legislative spotlight for some time given its market dominance, aggressive marketing of Medicare Advantage, and questionable use of AI algorithms to deny care to patients,” he said.

“As the tragic murder of UNH’s Brian Thompson made evident, public outrage over the exorbitant costs and restricted access to healthcare has reached a dangerous level in our country. Our proposal suggests some introspection by UNH that will help the company and all its stakeholders thrive,” he added.

The protesting shareholders are reportedly all “institutional investors” part of the Interfaith Center on Corporate Responsibility (ICCR).

Asked for comment, a United spokesperson directed reporters to a statement issued last month.

“UnitedHealthcare approves and pays about 90 percent of medical claims upon submission,” the old statement reads. “Importantly, of those that require further review, around one-half of one percent are due to medical or clinical reasons. Highly inaccurate and grossly misleading information has been circulated about our company’s treatment of insurance claims.”

The protesting shareholders are backed by a number of high-profile figures, including Sen. Richard Blumenthal, a Democrat, and Jean Coffey, a United Medicare Advantage policyholder.

“Insurers need to respect that they have a public trust,” Blumenthal told Stat News. “What I have found over the years is that anger has been building, and I would assume it will continue to rise — both anger and fear — because more and more people are feeling the effects of denials and delays in care that they need.”

“Before I got sick, I was an ambulance EMT, getting people the care they needed,” Coffey added. “Once I got cancer and complex regional pain syndrome (CRPS), the care I needed was denied. There’s no sugarcoating it. I lost my health, home, car, and career, and sold everything I owned because UnitedHealth would not authorize or pay for treatment.”

“These practices put patients at risk. We should not have to fight delays and denials. I urge shareholders to ask if UnitedHealth should prioritize profits over people’s health – or commit to covering our care,” she continued.

The shareholders are also backed by Wendell Potter, the president of the Center for Health & Democracy.

“The pattern of delays and denials of necessary medical care by UnitedHealth Group and other insurance companies harms more than just the patient themselves,” she said.

“The withholding of payment for medical care means that workers cannot do their jobs because they are sick, families cannot pay their bills or contribute to the economy, and employers must pay higher prices for health benefits for their employees. It is important to analyze and understand the wider effects of care denial practices by UNH on the broader economy,” she added.

Vivek Saxena
Latest posts by Vivek Saxena (see all)

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.