Minnetonka, April 18 (RHC)-- The for-profit health insurance giant UnitedHealth Group reported profits grew by over $160 million during the first quarter of 2020, as demand for nonessential medical treatment plummeted while coronavirus hospitalizations surged.   UnitedHealth reported a 3.4% year-over-year increase in quarterly earnings to $5 billion. 

Former health insurance executive Wendell Potter tweeted in response: “The earnings were so good, the company said it still expects to make as much in total profits this year as they predicted in December … when no one could predict the massive loss of life & jobs caused by the coronavirus.  In other words, they’re thriving during a pandemic.”

UnitedHealth Group is based in Minnetonka, Minnesota, offering health care products and insurance services.  It is the largest healthcare company in the world by revenue, with 2019 revenue of $242.2 billion.