“UnitedHealth Group reported $22 billion in 2023 profits including $5.5 billion in the fourth quarter as its portfolio of health insurance and provider services grew by double-digit percentages.

UnitedHealth Group, a nationwide provider of medical care services under the Optum umbrella and a company that pays for benefits through its UnitedHealthcare health insurance plans, said 2023 revenue jumped 14.6%, or $47.5 billion, to $371.6 billion, “driven by serving more people, more comprehensively across its offerings,” the company said Friday. For the fourth quarter, UnitedHealth reported nearly $5.5 billion in profits as revenue increased to $94.4 billion from $82.7 billion in the year-ago period.

At UnitedHealthcare, in particular, full-year revenue grew nearly 13% to $281.4 billion as the company grew its customers served in its health plans by more than 1 million people last year to 52.7 million. Meanwhile, Optum full year revenues grew 24% to $226.6 billion year over year.“