Overview

• The Department of Justice's healthcare fraud unit is investigating UnitedHealth Group for possible Medicare fraud tied to its Medicare Advantage program.
• UnitedHealth denies being notified of the investigation and defends the integrity of its Medicare Advantage business, calling reports of the probe 'deeply irresponsible.'
• CEO Andrew Witty resigned on May 13, citing personal reasons, and was replaced by former CEO Stephen Hemsley as the company struggles with multiple crises.
• UnitedHealth’s stock has plummeted over 50% in the past month, losing more than $300 billion in market value, with shares hitting a five-year low on May 15.
• The criminal probe adds to ongoing regulatory scrutiny, including civil and antitrust investigations, as well as backlash from prior controversies such as a 2024 cyberattack and the murder of a top executive.