UNH · 10-Q · 2026Q2 · Full report
Medical Cost Trend / Benefit Ratio
UNITEDHEALTH GROUP INC · 2026-08-10 · Importance 49 · Surprise 32
Second-quarter medical costs decreased $3.227 billion, or 4%, to $75.358 billion, and six-month medical costs decreased $3.149 billion, or 2%, to $148.847 billion. The medical care ratio improved 2.7 percentage points to 86.7% in the second quarter and 1.8 points to 85.3% for the first six months. Lower costs reflected fewer people served and favorable prior-period reserve development, partly offset by elevated medical cost trends, higher provider reimbursement under the No Surprises Act, and increased commercial service and coding intensity. Affordability, medical cost management, pricing actions, and favorable reserve development supported the ratio improvement.