UnitedHealth pulls out of ACA exchanges, profit soars 35%

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UnitedHealth's first-quarter profit soared 35 percent as the nation's biggest health insurer slashed participation in Affordable Care Act exchanges but grew just about every other part of its business

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Enrollment in Medicare Advantage plans and the state- and federally funded Medicaid coverage both swelled for UnitedHealth, which also continued to grow an Optum segment that sells several services outside the company's core health insurance.

Operating earnings from that insurance businesses climbed 15 percent to $2.1 billion, even though UnitedHealth's individual enrollment plunged as it withdrew from nearly all the Affordable Care Act's health insurance exchanges. The insurer pulls in most of its enrollment from group insurance coverage offered through employers.

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