WASHINGTON – UnitedHealth Group’s stock has seen a significant drop of more than 18% after a Wall Street Journal report revealed a criminal investigation by the Department of Justice.
The investigation focuses on potential Medicaid fraud linked to UnitedHealth’s Medicare Advantage business plan.
The investigation centers around the company’s operational practices within its Medicare Advantage program. UnitedHealth has responded, stating it was informed of the DOJ’s actions and maintains there are no issues with its Medicare Advantage program.
This isn’t the first time UnitedHealth has faced scrutiny. In February, the Wall Street Journal reported on a civil fraud investigation into the company’s Medicare practices.
Additionally, U.S. Senator Chuck Grassley initiated an inquiry into UnitedHealth’s Medicare billing practices during the same month.
