UnitedHealth Group appointed Tim Noel, head of its Medicare business, as the new CEO of its health insurance unit on Thursday, following the tragic death of former CEO Brian Thompson in December. Noel, who has been with the company since 2007, most recently served as the CEO of UnitedHealthcare’s Medicare & Retirement unit.
Noel takes charge of UnitedHealthcare, the largest health insurer in the U.S., at a challenging time for the company. The U.S. healthcare system continues to face widespread frustration, with many Americans expressing anger over denied insurance claims, uncovered expenses, and the rejection of care requests. These issues have become even more pressing after Thompson’s death, sparking a broader conversation about healthcare access and affordability.
At the same time, the health insurance industry is grappling with rising costs, exacerbated by increasing demand for healthcare through Medicare plans and Medicaid eligibility changes across states. UnitedHealth has reported a higher-than-expected medical loss ratio, a key metric tracking premiums spent on medical care.
In addition to its health insurance division, UnitedHealth’s parent company operates Optum, which includes pharmacy benefits management, specialty pharmacies, data analytics, and doctor and surgical practices. The company also owns Change Healthcare, a technology firm that was impacted by a cyberattack last year, affecting millions of healthcare providers and customers.
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