UnitedHealth CEO Andrew Witty is stepping down for personal reasons and the nation’s largest health insurer suspended its full-year financial outlook due to higher-than-expected medical costs.
The Minnesota company said Tuesday that Chairman Stephen Hemsley will become CEO, effective immediately.
“Leading the people of UnitedHealth Group has been a tremendous honor as they work every day to improve the health system, and they will continue to inspire me,” Witty said.
UnitedHealth said that it suspended its 2025 outlook as medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare were higher than expected.
UnitedHealthcare is the nation’s largest provider of Medicare Advantage plans, with more than 8 million customers. Those are privately run versions of the federal government coverage program mostly for people ages 65 and older.
