A group of UnitedHealth Group (UNH) shareholders filed a proposal this week asking the company to report on how its policies are impacting access to healthcare, patient outcomes and the macroeconomic picture.
The shareholders said they would like the report to include analyses of how frequently prior-authorization requirements and denials of coverage result in delayed or abandoned medical treatment and serious adverse effects.
These practices, along with increasing premiums and out-of-pocket costs, “may increase short-term revenue while risking company brand name and threatening investors’ broader portfolios by increasing consumer debt, jeopardizing health of policyholders and thereby reducing workforce productivity, straining government resources, and risking increased taxes,” the shareholders said in their proposal, for the 2025 proxy season.
The shareholders are institutional investors who have engaged for many years with UHN and other healthcare companies on how they handle access to and affordability of healthcare. They are affiliated with the Interfaith Center for Corporate Responsibility (ICCR), an advocacy-focused coalition of more than 300 institutional investors collectively representing over $4 trillion in invested capital.
Introspection Requested
According to ICCR, UHN is the nation’s largest health insurance company and its largest employer of physicians. Its problems have also been enormous.
“UNH has been in the media and legislative spotlight for some time given its market dominance, aggressive marketing of Medicare Advantage and questionable use of AI algorithms to deny care to patients,” the lead filer of the proposal, Timnit Ghermay, of the Congregation des Soeurs des Saints Noms de Jesus et de Marie, said in the ICCR press release.
“As the tragic murder of UNH’s [CEO] Brian Thompson made evident, public outrage over the exorbitant costs and restricted access to healthcare has reached a dangerous level in our country,” said Ghermay. “Our proposal suggests some introspection by UNH that will help the company and all its stakeholders thrive.
UNH is being sued for allegedly using an “error-prone algorithm to deny care to older Americans,” said ICCR. The company is also facing a federal antitrust investigation and a Justice Department lawsuit.
From First Responder to Flat Broke
Comments published in the ICCR release from Jenn Coffey, a UNH Medicare Advantage policyholder, echo the sense of urgency and frustration felt by many Americans:
Before I got sick, I was an ambulance EMT, getting people the care they needed. Once I got cancer and complex regional pain syndrome (CRPS), the care I needed was denied. There’s no sugarcoating it. I lost my health, home, car, and career, and sold everything I owned because UnitedHealth would not authorize or pay for treatment. These practices put patients at risk. We should not have to fight delays and denials. I urge shareholders to ask if UnitedHealth should prioritize profits over people’s health — or commit to covering our care.
