America’s health insurers don’t say this openly, but it isn’t a secret that many of them would like to be a little more like UnitedHealth Group.
Just as Amazon is the e-commerce industry’s 800-pound gorilla, UnitedHealth has built a sprawling health services company that shows no sign of slowing down. With annual revenue of $372 billion in 2023, it ranks among the five largest companies in the U.S. on that measure. Its stock, meanwhile, has returned more than 600% in the past decade.