UnitedHealth Group (UHG) shareholders are demanding a report detailing how the company's healthcare access policies affect its brand and the broader economy. The proposal, filed by the Northwest Coalition for Responsible Investment (NWCRI), calls for an analysis of how prior authorization and coverage denials impact patient outcomes, delays, and potential adverse events. Shareholders argue that delayed care increases consumer debt, jeopardizes policyholder health, reduces workforce productivity, and strains government resources.
The shareholder request cites concerns that UHG's practices, which potentially lead to delayed or avoided medical care, damage the company's reputation and jeopardize investor portfolios. The proposal notes that these actions could result in increased consumer debt, compromised health of policyholders, diminished workforce productivity, and potentially higher taxes.
UHG declined to comment directly on the proposal, referring inquiries to a statement issued last month addressing what the company termed "misinformation." The company maintains that it approves and pays 90% of submitted medical claims. However, this claim is countered by recent congressional scrutiny and findings.
Last year's Senate report highlighted a concerning trend: UnitedHealthcare, along with other major insurers, denied post-acute care services for Medicare Advantage at significantly higher rates compared to other care types. Data revealed that denial rates for prior authorization of post-acute care services at UnitedHealthcare and CVS were approximately three times higher than their overall denial rates in 2022. Humana's rates were over sixteen times higher. This data underscores the potential for systematic barriers to care.
Timnit Ghermay, director of NWCRI, framed the proposal in the context of recent events, including the death of UnitedHealthcare CEO Brian Thompson. Ghermay emphasized public outrage over high healthcare costs and restricted access as a key driver behind the proposal. This underscores the potentially significant impact of these access issues on public sentiment.
The proposal is part of a broader effort by the Interfaith Center on Corporate Responsibility (ICCR), a coalition of faith- and values-based investors, to hold UHG accountable. Previous ICCR proposals have focused on reports concerning the company's AI usage and racial disparities.
