Health-care companies fell, but not by as much as the broad market, after strong earnings from one major insurer.
UnitedHealth Group rose slightly after the largest U.S. health insurer by enrollees posted fourth-quarter earnings growth, helped by higher revenue from premiums. Shares of health insurers have been under pressure in recent weeks because of signs that the Omicron variant would generate a spike in claims.
UnitedHealth said the medical care ratio for its fourth quarter, which measures the percentage of insurance premiums paid out to cover costs, was 83.7% -- in line with Wall Street estimates.
President Joe Biden is expected to make 400 million N95 masks available for free at U.S. pharmacies and community health centers across the U.S., a White House official told The Wall Street Journal.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-19-22 1634ET
