April 17 UnitedHealth Group Inc, the largest U.S. health insurer, said on Thursday that first-quarter profit fell due to costs and taxes related to the national healthcare reform law as well as government cuts to Medicare funding.
UnitedHealth said that net profit was $1.1 billion, or about $1.10 per share, compared with $1.2 billion, or $1.16 per share a year earlier. Analysts had expected first quarter profit of $1.09 per share, according to Thomson Reuters I/B/E/S.
UnitedHealth stuck by its previous forecast for 2014 earnings of $5.40 to $5.60 per share. (Reporting by Caroline Humer, Editing by Franklin Paul)