UnitedHealth’s massive growth just got harder to track

Bob Herman covers health insurance, government programs, hospitals, physicians, and other providers — reporting on how money influences those businesses and shapes what we all pay for care. He is also the author of the Health Care Inc. newsletter. You can reach Bob on Signal at bobjherman.09.

Amid financial and reputational turmoil, top executives at UnitedHeath Group have promised to bring more transparency. A new reporting policy from the health care giant is doing the opposite.

This week, UnitedHealth listed just 10 subsidiaries in its annual report, filed with the Securities and Exchange Commission. A year ago, the company disclosed nearly 3,100.

UnitedHealth is the country’s biggest health care conglomerate, and the far more limited disclosure hides the scope of its sprawling network of businesses that includes insurance, medical clinics, and pharmacies.

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