Market News

UnitedHealth to Offer One Care Benefit Plan in Massachusetts

Managed healthcare and insurance company UnitedHealth Group Incorporated (UNH) recently announced that its subsidiary, UnitedHealthcare, will now offer One Care in Massachusetts for people eligible for both Medicare and MassHealth.

Following the news, shares of the company appreciated marginally to close at $450.16 on Wednesday.

The plan will be offered to people living in Bristol, Hampden, Plymouth, Suffolk, Worcester, Hampshire, Franklin, and Middlesex counties and parts of Essex County.

The UnitedHealthcare Connected for One Care plan is available for eligible adults 21 to 64 years old, who are fit for Medicare and MassHealth, including access to the plan’s care provider network, health and wellness programs, and prescription drug coverage. This comprehensive health coverage offers a customized care plan and a single point of contact for all Medicare and MassHealth services.

Management Commentary

The CEO of UnitedHealthcare Community Plan of Massachusetts, John Madondo, said, “UnitedHealthcare is excited and honored to serve the people of Massachusetts who qualify for One Care in an integrated and person-centered model of care. We look forward to fulfilling our mission of helping people live healthier lives and making the health system work better for everyone.”

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Price Target

Recently, Deutsche Bank analyst George Hill reiterated a Buy rating on the stock. The analyst, however, raised the price target from $421 to $477, which implies upside potential of 6% from current levels.

Consensus among analysts is a Strong Buy based on 13 Buys and 2 Holds. The average UnitedHealth price target of $484.80 implies upside potential of 7.7% from current levels.

Smart Score

UnitedHealth scores a 7 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with the market expectations. Shares have gained 33.2% over the past year.

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