UnitedHealth Group Inc is still losing money on the individual insurance business created under U.S. President Barack Obama's national healthcare reform law due to customers' high medical costs, the company said on Tuesday.
The largest U.S. health insurer said that it was booking $200 million in losses in the second quarter to cover higher-than-anticipated use of medical services by customers this year. UnitedHealth and other insurers have blamed those costs for their losses from the exchange business.
The company said it expected the program, often called Obamacare, to reduce 2016 earnings by about $850 million, up from $475 million in 2015.
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