Optum, UnitedHealth profits up despite higher Medicare Advantage costs

UnitedHealth Group exceeded second-quarter earnings expectations despite its Medicare Advantage members continuing to report higher-than-anticipated medical costs.

The healthcare giant, which is the parent company of UnitedHealthcare, the largest insurer, and Optum, the largest employer of physicians, on Friday reported second-quarter net income of $5.4 billion, or $5.82 per share. That’s up nearly 8% from the same period last year.

Revenue…