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UnitedHealth reported $5.48 billion in net income for Q2 2026, and its own reporting credits pricing discipline and market exits, not behavioral health savings. On the earnings call, the company separately admitted behavioral health costs are still elevated and barely denting pressured Medicaid margins.
A July 2026 investigation by journalist Wendell Potter's Center for Health & Democracy found that 37 of 70 outpatient behavioral health companies UnitedHealth's Optum division acquired have since closed entirely or closed at least one office, and 108 of 216 individual locations shut down across 21 states.
UnitedHealthcare pays Optum-owned practices 17% more than nearby practices, and up to 61% more where it dominates the market. Same parent company, both sides.
A company most patients have never heard of makes coverage decisions for about 100 million insured Americans — 1 in 3 people with insurance — across 100+ insurers.
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