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UnitedHealth’s Medicare Growth Projections Fall Short Of Expectations – $UNH $DIA $SPY $MODD

By John F. Heerdink, Jr.

As per reports, UnitedHealth Group Incorporated (UNH) has projected lower-than-expected membership growth in its crucial Medicare segment, signaling a slowdown in a sector that has been a significant contributor to insurers’ earnings for an extended period. The enrollment forecast for the company’s Medicare Advantage plans, which are private versions of the U.S. health program for seniors, indicates a figure of less than 8.1 million for the upcoming year. While Medicare Advantage plans have historically fueled growth and profits for health insurers, concerns over the cost to U.S. taxpayers have led to changes that could potentially reduce the attractiveness of this segment for insurers.

UnitedHealth anticipates an increase of approximately half a million members in its plans for the next year.

Dow 30 component UnitedHealth Group Incorporated (UNH) operates as a diversified health and well-being company in the United States. The company’s UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, individuals, and military service members; and health care coverage, and health and well-being services to individuals aged 50 and older addressing their needs for preventive and acute health care services. To learn more about (UNH) please visit the Vista Partners Company Dedicated UNH Coverage Page

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DID YOU KNOW THAT On October 31, 2023

Modular Medical, Inc. (NASDAQ:MODD), a development stage insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today provided an update on its ongoing pre-submission testing and timeline for submission of its MODD-1 insulin pump (the “MODD-1”) to the U.S. Food and Drug Administration (“FDA”). The Company has made substantial progress on completing many of the tests required for submission and now has results back from some of the longest lead time tests, including insulin stability and potency. Modular Medical believes the test results received from multiple third-party laboratory tests are sufficient for submission of the MODD1 to the FDA for clearance, subject to the completion of other ongoing tests and reports.

Jeb Besser, CEO of Modular Medical, commented, “The Modular Medical team has continued to make rapid progress towards our 510(k) submission to the FDA, since the completion of our pilot manufacturing line in August. While there is still additional testing to be done, we are starting to gain better visibility on our submission timeline, and we currently expect to make our FDA submission around year end 2023. We remain excited about our opportunity to bring access to better insulin delivery to underserved segments of the market.”

About Modular Medical

Modular Medical, Inc. (NASDAQ:MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.”

Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

(Read Original Story: UnitedHealth Sees 2024 Medicare Enrollment Below Estimates in Bloomberg)


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