UnitedHealth Group saw an upsurge in its government business as it topped Modern Healthcare's list of the largest publicly traded health insurance companies in 2014. Nearly all of insurers on the list enjoyed an increase in total revenue in 2014 compared with the previous year.
Minnetonka, Minn.-based UnitedHealth saw a 5.3% increase in total revenue, which the company attributed to growth in the number of individuals served in its public and senior markets businesses. Its community and state segment, whose primary customers run state Medicaid programs and Children's Health Insurance Programs and other federal and state efforts, saw a 29.1% revenue increase over the prior year. As of Dec. 31, 2014, the insurer's community and state businesses participated in insurance programs in 24 states, serving more than 5 million beneficiaries. Twelve of UnitedHealth's state customers chose to expand Medicaid under the Affordable Care Act.