10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________________________________ 

Form 10-Q

__________________________________________________________ 

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2017

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM _______ TO _______

Commission file number: 1-10864

__________________________________________________________ 

UnitedHealth Group Incorporated

(Exact name of registrant as specified in its charter)

 __________________________________________________________ 

Delaware	41-1321939
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
UnitedHealth Group Center 9900 Bren Road East Minnetonka, Minnesota	55343
(Address of principal executive offices)	(Zip Code)

(952) 936-1300

(Registrant’s telephone number, including area code)

__________________________________________________________  

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer [X] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [ ] Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes [ ]No [X]

As of April 28, 2017, there were 963,661,565 shares of the registrant’s Common Stock, $.01 par value per share, issued and outstanding.

UNITEDHEALTH GROUP

Table of Contents

			Page
Part I. Financial Information
Item 1.	Financial Statements (unaudited)		1
	Condensed Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016		1
	Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2017 and 2016		2
	Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2017 and 2016		3
	Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2017 and 2016		4
	Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2017 and 2016		5
	Notes to the Condensed Consolidated Financial Statements		6
	1.	Basis of Presentation	6
	2.	Investments	8
	3.	Fair Value	9
	4.	Other Current Receivables	11
	5.	Medical Costs Payable	11
	6.	Commercial Paper and Long-Term Debt	12
	7.	Commitments and Contingencies	13
	8.	Segment Financial Information	14
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		15
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		23
Item 4.	Controls and Procedures		23
Part II. Other Information
Item 1.	Legal Proceedings		23
Item 1A.	Risk Factors		23
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		24
Item 6.	Exhibits		24
Signatures			25

PART I

ITEM 1.    FINANCIAL STATEMENTS

UnitedHealth Group

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions, except per share data)	March 31, 2017			December 31, 2016
Assets
Current assets:
Cash and cash equivalents	$	16,142		$	10,430
Short-term investments	3,210			2,845
Accounts receivable, net	9,595			8,152
Other current receivables, net	6,609			7,499
Assets under management	2,886			3,105
Prepaid expenses and other current assets	2,547			1,848
Total current assets	40,989			33,879
Long-term investments	25,760			23,868
Property, equipment and capitalized software, net	6,329			5,901
Goodwill	52,376			47,584
Other intangible assets, net	8,618			8,541
Other assets	3,085			3,037
Total assets	$	137,157		$	122,810
Liabilities, redeemable noncontrolling interests and equity
Current liabilities:
Medical costs payable	$	17,650		$	16,391
Accounts payable and accrued liabilities	13,473			13,361
Commercial paper and current maturities of long-term debt	7,747			7,193
Unearned revenues	6,475			1,968
Other current liabilities	12,198			10,339
Total current liabilities	57,543			49,252
Long-term debt, less current maturities	26,154			25,777
Future policy benefits	2,519			2,524
Deferred income taxes	2,894			2,761
Other liabilities	2,385			2,307
Total liabilities	91,495			82,621
Commitments and contingencies (Note 7)
Redeemable noncontrolling interests	1,667			2,012
Equity:
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding	—			—
Common stock, $0.01 par value - 3,000 shares authorized; 965 and 952 issued and outstanding	10			10
Additional paid-in capital	1,819			—
Retained earnings	42,521			40,945
Accumulated other comprehensive loss	(2,447		)	(2,681		)
Nonredeemable noncontrolling interest	2,092			(97		)
Total equity	43,995			38,177
Total liabilities, redeemable noncontrolling interests and equity	$	137,157		$	122,810

See Notes to the Condensed Consolidated Financial Statements

1

UnitedHealth Group

Condensed Consolidated Statements of Operations

(Unaudited)

	Three Months Ended March 31,
(in millions, except per share data)	2017			2016
Revenues:
Premiums	$	38,938		$	34,811
Products	6,129			6,393
Services	3,434			3,140
Investment and other income	222			183
Total revenues	48,723			44,527
Operating costs:
Medical costs	32,079			28,430
Operating costs	7,022			6,758
Cost of products sold	5,676			5,877
Depreciation and amortization	533			502
Total operating costs	45,310			41,567
Earnings from operations	3,413			2,960
Interest expense	(283		)	(259		)
Earnings before income taxes	3,130			2,701
Provision for income taxes	(939		)	(1,074		)
Net earnings	2,191			1,627
Earnings attributable to noncontrolling interests	(19		)	(16		)
Net earnings attributable to UnitedHealth Group common shareholders	$	2,172		$	1,611
Earnings per share attributable to UnitedHealth Group common shareholders:
Basic	$	2.28		$	1.69
Diluted	$	2.23		$	1.67
Basic weighted-average number of common shares outstanding	954			953
Dilutive effect of common share equivalents	21			14
Diluted weighted-average number of common shares outstanding	975			967
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents	9			7
Cash dividends declared per common share	$	0.625		$	0.500

See Notes to the Condensed Consolidated Financial Statements

2

UnitedHealth Group

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

	Three Months Ended March 31,
(in millions)	2017			2016
Net earnings	$	2,191		$	1,627
Other comprehensive income:
Gross unrealized gains on investment securities during the period	99			260
Income tax effect	(32		)	(96		)
Total unrealized gains, net of tax	67			164
Gross reclassification adjustment for net realized gains included in net earnings	(21		)	(35		)
Income tax effect	8			13
Total reclassification adjustment, net of tax	(13		)	(22		)
Total foreign currency translation gains	180			388
Other comprehensive income	234			530
Comprehensive income	2,425			2,157
Comprehensive income attributable to noncontrolling interests	(19		)	(16		)
Comprehensive income attributable to UnitedHealth Group common shareholders	$	2,406		$	2,141

See Notes to the Condensed Consolidated Financial Statements

3

UnitedHealth Group

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Common Stock				Additional Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive (Loss) Income						Nonredeemable Noncontrolling Interest			Total Equity
(in millions)	Shares		Amount								Net Unrealized (Losses) Gains on Investments			Foreign Currency Translation (Losses) Gains
Balance at January 1, 2017	952		$	10	$	—		$	40,945		$	(97	)	$	(2,584	)	$	(97	)	$	38,177
Net earnings								2,172									9			2,181
Other comprehensive income											54			180						234
Issuances of common stock, and related tax effects	17		—		1,923															1,923
Share-based compensation					189															189
Common share repurchases	(4	)	—		(682		)	—												(682		)
Cash dividends paid on common shares								(596		)										(596		)
Redeemable noncontrolling interests fair value and other adjustments					389															389
Acquisition of nonredeemable noncontrolling interest																	2,191			2,191
Distribution to nonredeemable noncontrolling interest																	(11		)	(11		)
Balance at March 31, 2017	965		$	10	$	1,819		$	42,521		$	(43	)	$	(2,404	)	$	2,092		$	43,995
Balance at January 1, 2016	953		$	10	$	29		$	37,125		$	56		$	(3,390	)	$	(105	)	$	33,725
Adjustment to adopt ASU 2016-09								28												28
Net earnings								1,611									11			1,622
Other comprehensive income											142			388						530
Issuances of common stock,  and related tax effects	5		—		56															56
Share-based compensation					150															150
Common share repurchases	(4	)	—		(176		)	(324		)										(500		)
Cash dividends paid on common shares								(477		)										(477		)
Redeemable noncontrolling interests fair value and other adjustments					(59		)													(59		)
Distribution to nonredeemable noncontrolling interest																	(8		)	(8		)
Balance at March 31, 2016	954		$	10	$	—		$	37,963		$	198		$	(3,002	)	$	(102	)	$	35,067

See Notes to the Condensed Consolidated Financial Statements

4

UnitedHealth Group

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Three Months Ended March 31,
(in millions)	2017			2016
Operating activities
Net earnings	$	2,191		$	1,627
Noncash items:
Depreciation and amortization	533			502
Deferred income taxes	(89		)	145
Share-based compensation	196			157
Other, net	43			6
Net change in other operating items, net of effects from acquisitions and changes in AARP balances:
Accounts receivable	(1,232		)	(1,110		)
Other assets	(998		)	(2,162		)
Medical costs payable	1,024			1,368
Accounts payable and other liabilities	292			2,036
Unearned revenues	4,496			(251		)
Cash flows from operating activities	6,456			2,318
Investing activities
Purchases of investments	(3,683		)	(5,173		)
Sales of investments	1,018			2,122
Maturities of investments	1,326			978
Cash paid for acquisitions, net of cash assumed	(468		)	(1,697		)
Purchases of property, equipment and capitalized software	(507		)	(425		)
Other, net	25			14
Cash flows used for investing activities	(2,289		)	(4,181		)
Financing activities
Common share repurchases	(682		)	(500		)
Cash dividends paid	(596		)	(477		)
Proceeds from common stock issuances	270			198
Proceeds from issuance of long-term debt	1,342			2,485
Repayments of long-term debt	(1,392		)	(601		)
Repayments of commercial paper, net	(139		)	(285		)
Customer funds administered	3,217			1,067
Other, net	(495		)	(385		)
Cash flows from financing activities	1,525			1,502
Effect of exchange rate changes on cash and cash equivalents	20			34
Increase (decrease) in cash and cash equivalents	5,712			(327		)
Cash and cash equivalents, beginning of period	10,430			10,923
Cash and cash equivalents, end of period	$	16,142		$	10,596
Supplemental Schedule of Noncash Investing Activities
Common stock issued for acquisition	$	1,860		$	—

See Notes to the Condensed Consolidated Financial Statements

5

UnitedHealth Group

Notes to the Condensed Consolidated Financial Statements

(Unaudited)

1. Basis of Presentation and Significant Accounting Policies

UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and “the Company”) is a diversified health and well-being company dedicated to helping people live healthier lives and helping to make the health system work better for everyone. Through its diversified family of businesses, the Company leverages core competencies in advanced, enabling technology; health care data, information and intelligence; and clinical care management and coordination to help meet the demands of the health system. These core competencies are deployed within the Company’s two distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.

The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC (2016 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly.

Use of Estimates

These Condensed Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted.

Revenues

The Company’s revenues include premium, product, and service revenues. Service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For more information about the Company’s revenues, see Notes 2 and 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K. See Note 8 for disaggregation of revenue by segment and type.

As of March 31, 2017, accounts receivables related to products and services were $3.3 billion. For the three months ended March 31, 2017, the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costsrecorded on the Condensed Consolidated Balance Sheet as of March 31, 2017.

For the three months ended March 31, 2017, revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material.

Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material.

Health Insurance Industry Tax

The Patient Protection and Affordable Care Act (ACA) included an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. The Company has experienced a lower effective income tax rate in 2017 as compared to 2016 primarily due to the moratorium.

The remainder of the accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K remain unchanged.

6

Recently Issued Accounting Standards

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption.

In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. As of March 31, 2017, based on equity securities held, the Company does not expect ASU 2016-01 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. The Company will continue to evaluate any changes in its mix of investments or market conditions and the related impact of ASU 2016-01.

Recently Adopted Accounting Standards

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the three months ended March 31, 2017. The Company has included the disclosures required by ASU 2014-09 above.

The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements.

7

2.    Investments

A summary of short-term and long-term investments by major security type is as follows:

(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2017
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,529	$	2	$	(28	)	$	2,503
State and municipal obligations	7,020		64		(64		)	7,020
Corporate obligations	11,879		48		(46		)	11,881
U.S. agency mortgage-backed securities	3,345		7		(44		)	3,308
Non-U.S. agency mortgage-backed securities	999		2		(10		)	991
Total debt securities - available-for-sale	25,772		123		(192		)	25,703
Equity securities	2,120		43		(42		)	2,121
Debt securities - held-to-maturity:
U.S. government and agency obligations	259		1		—			260
State and municipal obligations	5		—		—			5
Corporate obligations	288		—		—			288
Total debt securities - held-to-maturity	552		1		—			553
Total investments	$	28,444	$	167	$	(234	)	$	28,377
December 31, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,294	$	1	$	(31	)	$	2,264
State and municipal obligations	7,120		40		(101		)	7,059
Corporate obligations	10,944		41		(58		)	10,927
U.S. agency mortgage-backed securities	2,963		7		(43		)	2,927
Non-U.S. agency mortgage-backed securities	1,009		3		(10		)	1,002
Total debt securities - available-for-sale	24,330		92		(243		)	24,179
Equity securities	2,036		52		(47		)	2,041
Debt securities - held-to-maturity:
U.S. government and agency obligations	250		1		—			251
State and municipal obligations	5		—		—			5
Corporate obligations	238		—		—			238
Total debt securities - held-to-maturity	493		1		—			494
Total investments	$	26,859	$	145	$	(290	)	$	26,714

The amortized cost and fair value of debt securities as of March 31, 2017, by contractual maturity, were as follows:

	Available-for-Sale				Held-to-Maturity
(in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	3,291	$	3,293	$	191	$	191
Due after one year through five years	10,041		10,049		111		111
Due after five years through ten years	6,090		6,069		120		120
Due after ten years	2,006		1,993		130		131
U.S. agency mortgage-backed securities	3,345		3,308		—		—
Non-U.S. agency mortgage-backed securities	999		991		—		—
Total debt securities	$	25,772	$	25,703	$	552	$	553

8

The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows:

	Less Than 12 Months					12 Months or Greater					Total
(in millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
March 31, 2017
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,077	$	(28	)	$	—	$	—		$	2,077	$	(28	)
State and municipal obligations	3,187		(64		)	—		—			3,187		(64		)
Corporate obligations	4,567		(44		)	81		(2		)	4,648		(46		)
U.S. agency mortgage-backed securities	2,406		(41		)	76		(3		)	2,482		(44		)
Non-U.S. agency mortgage-backed securities	616		(8		)	47		(2		)	663		(10		)
Total debt securities - available-for-sale	$	12,853	$	(185	)	$	204	$	(7	)	$	13,057	$	(192	)
Equity securities	$	75	$	(4	)	$	101	$	(38	)	$	176	$	(42	)
December 31, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,794	$	(31	)	$	—	$	—		$	1,794	$	(31	)
State and municipal obligations	4,376		(101		)	—		—			4,376		(101		)
Corporate obligations	5,128		(56		)	137		(2		)	5,265		(58		)
U.S. agency mortgage-backed securities	2,247		(40		)	79		(3		)	2,326		(43		)
Non-U.S. agency mortgage-backed securities	544		(7		)	97		(3		)	641		(10		)
Total debt securities - available-for-sale	$	14,089	$	(235	)	$	313	$	(8	)	$	14,402	$	(243	)
Equity securities	$	93	$	(5	)	$	91	$	(42	)	$	184	$	(47	)

The Company’s unrealized losses from all securities as of March 31, 2017 were generated from more than 10,000 positions out of a total of 27,000 positions. The Company believes that it will collect the principal and interest due on its debt securities that have an amortized cost in excess of fair value. The unrealized losses were primarily caused by interest rate increases and not by unfavorable changes in the credit quality associated with these securities. At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting no significant deterioration since purchase. As of March 31, 2017, the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary.

The Company’s investments in equity securities consist of investments in Brazilian real denominated fixed-income funds, employee savings plan related investments, venture capital funds, and dividend paying stocks. The Company evaluated its investments in equity securities for severity and duration of unrealized loss, overall market volatility and other market factors. Additionally, as of March 31, 2017, the Company’s investments included $594 million in equity method investments that were obtained as part of a 2017 acquisition.

3.    Fair Value

Certain assets and liabilities are measured at fair value in the Condensed Consolidated Financial Statements or have fair values disclosed in the Notes to the Condensed Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP.

For a description of the methods and assumptions that are used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument, see Note 4 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K.

9

The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

(in millions)	Quoted Prices in Active Markets (Level 1)			Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total Fair and Carrying Value
March 31, 2017
Cash and cash equivalents	$	16,101		$	41		$	—		$	16,142
Debt securities - available-for-sale:
U.S. government and agency obligations	2,220			283			—			2,503
State and municipal obligations	—			7,020			—			7,020
Corporate obligations	26			11,744			111			11,881
U.S. agency mortgage-backed securities	—			3,308			—			3,308
Non-U.S. agency mortgage-backed securities	—			991			—			991
Total debt securities - available-for-sale	2,246			23,346			111			25,703
Equity securities	1,666			12			443			2,121
Assets under management	888			1,998			—			2,886
Interest rate swap assets	—			45			—			45
Total assets at fair value	$	20,901		$	25,442		$	554		$	46,897
Percentage of total assets at fair value	45		%	54		%	1		%	100		%
Interest rate swap liabilities	$	—		$	19		$	—		$	19
December 31, 2016
Cash and cash equivalents	$	10,386		$	44		$	—		$	10,430
Debt securities - available-for-sale:
U.S. government and agency obligations	2,017			247			—			2,264
State and municipal obligations	—			7,059			—			7,059
Corporate obligations	21			10,804			102			10,927
U.S. agency mortgage-backed securities	—			2,927			—			2,927
Non-U.S. agency mortgage-backed securities	—			1,002			—			1,002
Total debt securities - available-for-sale	2,038			22,039			102			24,179
Equity securities	1,591			13			437			2,041
Assets under management	1,064			2,041			—			3,105
Interest rate swap assets	—			55			—			55
Total assets at fair value	$	15,079		$	24,192		$	539		$	39,810
Percentage of total assets at fair value	38		%	61		%	1		%	100		%
Interest rate swap liabilities	$	—		$	14		$	—		$	14

Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there were no transfers between Levels 1, 2 or 3 of any financial assets or liabilities during the three months ended March 31, 2017 or 2016.

10

The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total Fair Value		Total Carrying Value
March 31, 2017
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	257	$	3	$	—	$	260	$	259
State and municipal obligations	—		—		5		5		5
Corporate obligations	18		2		268		288		288
Total debt securities - held-to-maturity	$	275	$	5	$	273	$	553	$	552
Other assets	$	—	$	468	$	—	$	468	$	465
Long-term debt and other financing obligations	$	—	$	32,489	$	—	$	32,489	$	30,399
December 31, 2016
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	251	$	—	$	—	$	251	$	250
State and municipal obligations	—		—		5		5		5
Corporate obligations	20		8		210		238		238
Total debt securities - held-to-maturity	$	271	$	8	$	215	$	494	$	493
Other assets	$	—	$	476	$	—	$	476	$	471
Long-term debt and other financing obligations	$	—	$	31,295	$	—	$	31,295	$	29,337

Nonfinancial assets and liabilities or financial assets and liabilities that are measured at fair value on a nonrecurring basis are subject to fair value adjustments only in certain circumstances, such as when the Company records an impairment. There were no significant fair value adjustments for these assets and liabilities recorded during the three months endedMarch 31, 2017 or 2016.

4.    Other Current Receivables

The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by the Company’s clients. As of March 31, 2017 and December 31, 2016, total pharmaceutical manufacturer rebates receivable included in other receivables in the Condensed Consolidated Balance Sheets amounted to $4.0 billion and $3.3 billion, respectively. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K for more information on the Company’s pharmaceutical manufacturer rebates.

5.    Medical Costs Payable

The following table shows the components of the change in medical costs payable for the three months ended March 31:

(in millions)	2017			2016
Medical costs payable, beginning of period	$	16,391		$	14,330
Acquisitions	76			—
Reported medical costs:
Current year	32,529			28,790
Prior years	(450		)	(360		)
Total reported medical costs	32,079			28,430
Medical payments:
Payments for current year	(18,742		)	(15,797		)
Payments for prior years	(12,154		)	(11,140		)
Total medical payments	(30,896		)	(26,937		)
Medical costs payable, end of period	$	17,650		$	15,823

For the three months ended March 31, 2017 and 2016 the medical cost reserve development included no individual factors that were material. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $12.5 billion and $11.6 billion at March 31, 2017 and December 31, 2016, respectively.

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6.     Commercial Paper and Long-Term Debt

Commercial paper and senior unsecured long-term debt consisted of the following:

	March 31, 2017						December 31, 2016
(in millions, except percentages)	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value		Fair Value
Commercial paper	$	3,502	$	3,502	$	3,502	$	3,633	$	3,633	$	3,633
Floating rate notes due January 2017	—		—		—		750		750		750
6.000% notes due June 2017	441		443		445		441		446		450
1.450% notes due July 2017	750		750		751		750		750		751
1.400% notes due October 2017	625		625		625		625		624		626
6.000% notes due November 2017	156		158		161		156		159		163
1.400% notes due December 2017	750		750		750		750		751		750
6.000% notes due February 2018	1,100		1,106		1,142		1,100		1,107		1,153
1.900% notes due July 2018	1,500		1,497		1,507		1,500		1,496		1,507
1.700% notes due February 2019	750		748		750		750		748		748
1.625% notes due March 2019	500		501		498		500		501		498
2.300% notes due December 2019	500		497		505		500		498		504
2.700% notes due July 2020	1,500		1,495		1,530		1,500		1,495		1,523
3.875% notes due October 2020	450		449		475		450		450		474
4.700% notes due February 2021	400		407		433		400		409		433
2.125% notes due March 2021	750		746		744		750		745		741
3.375% notes due November 2021	500		496		520		500		497		519
2.875% notes due December 2021	750		746		765		750		748		760
2.875% notes due March 2022	1,100		1,056		1,122		1,100		1,057		1,114
3.350% notes due July 2022	1,000		995		1,035		1,000		995		1,030
0.000% notes due November 2022	15		11		12		15		11		12
2.750% notes due February 2023	625		608		623		625		609		622
2.875% notes due March 2023	750		768		752		750		771		753
3.750% notes due July 2025	2,000		1,986		2,089		2,000		1,986		2,070
3.100% notes due March 2026	1,000		994		992		1,000		994		986
3.450% notes due January 2027	750		745		761		750		745		762
3.375% notes due April 2027	625		618		629		—		—		—
4.625% notes due July 2035	1,000		991		1,090		1,000		991		1,090
5.800% notes due March 2036	850		837		1,048		850		837		1,034
6.500% notes due June 2037	500		491		655		500		491		643
6.625% notes due November 2037	650		640		865		650		640		850
6.875% notes due February 2038	1,100		1,075		1,495		1,100		1,075		1,497
5.700% notes due October 2040	300		296		365		300		296		366
5.950% notes due February 2041	350		345		441		350		345		437
4.625% notes due November 2041	600		588		637		600		588		634
4.375% notes due March 2042	502		483		520		502		483		509
3.950% notes due October 2042	625		606		608		625		606		609
4.250% notes due March 2043	750		734		764		750		734		765
4.750% notes due July 2045	2,000		1,972		2,192		2,000		1,972		2,203
4.200% notes due January 2047	750		738		762		750		737		759
4.250% notes due April 2047	725		717		740		—		—		—
Total commercial paper and long-term debt	$	33,491	$	33,210	$	35,300	$	33,022	$	32,770	$	34,728

During the first quarter of 2017, the Company assumed $926 million in debt of an acquired company, of which $642 million was repaid in the first quarter. The Company repaid the remainder of the acquired debt in the second quarter of 2017. The Company’s long-term debt obligations also included $407 million and $200 million of other financing obligations, of which $129 million and $80 million were classified as current as of March 31, 2017 and December 31, 2016, respectively.

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Commercial Paper and Bank Credit Facilities

Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of March 31, 2017, the Company’s outstanding commercial paper had a weighted-average annual interest rate of 1.1%.

The Company has $3.0 billion five-year, $2.0 billion three-year and $1.0 billion 364-day revolving bank credit facilities with 23 banks, which mature in December 2021, December 2019 and December 2017, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of March 31, 2017, no amounts had been drawn on any of the bank credit facilities. The annual interest rates, which are variable based on term, are calculated based on the London Interbank Offered Rate (LIBOR) plus a credit spread based on the Company’s senior unsecured credit ratings. If amounts had been drawn on the bank credit facilities as of March 31, 2017, annual interest rates would have ranged from 1.8% to 2.3%.

Debt Covenants

The Company’s bank credit facilities contain various covenants, including covenants requiring the Company to maintain adefined debt to debt-plus-shareholders’ equity ratio of not more than 55%. The Company was in compliance with its debt covenants as of March 31, 2017.

7.    Commitments and Contingencies

Legal Matters

Because of the nature of its businesses, the Company is frequently made party to a variety of legal actions and regulatory inquiries, including class actions and suits brought by members, care providers, consumer advocacy organizations, customers and regulators, relating to the Company’s businesses, including management and administration of health benefit plans and other services. These matters include medical malpractice, employment, intellectual property, antitrust, privacy and contract claims and claims related to health care benefits coverage and other business practices.

The Company records liabilities for its estimates of probable costs resulting from these matters where appropriate. Estimates of costs resulting from legal and regulatory matters involving the Company are inherently difficult to predict, particularly where the matters: involve indeterminate claims for monetary damages or may involve fines, penalties or punitive damages; present novel legal theories or represent a shift in regulatory policy; involve a large number of claimants or regulatory bodies; are in the early stages of the proceedings; or could result in a change in business practices. Accordingly, the Company is often unable to estimate the losses or ranges of losses for those matters where there is a reasonable possibility or it is probable that a loss may be incurred.

Litigation Matters

California Claims Processing Matter.On January 25, 2008, the California Department of Insurance (CDI) issued an Order to Show Cause to PacifiCare Life and Health Insurance Company, a subsidiary of the Company, alleging violations of certain insurance statutes and regulations related to an alleged failure to include certain language in standard claims correspondence, timeliness and accuracy of claims processing, interest payments, care provider contract implementation, care provider dispute resolution and other related matters. Although the Company believes that CDI had never before issued a fine in excess of $8 million, CDI advocated a fine of approximately $325 million in this matter. The matter was the subject of an administrative hearing before a California administrative law judge beginning in December 2009, and in August 2013, the administrative law judge issued a nonbinding proposed decision recommending a fine of $11.5 million. The California Insurance Commissioner rejected the administrative law judge’s recommendation and on June 9, 2014, issued his own decision imposing a fine of approximately $174 million. On July 10, 2014, the Company filed a lawsuit in California state court challenging the Commissioner’s decision. On September 8, 2015, in the first phase of that lawsuit, the California state court issued an order invalidating certain of the regulations the Commissioner had relied upon in issuing his decision and penalty. In March 2017, the court entered a tentative ruling reversing all of the penalties imposed and remanding certain further issues to the Commissioner. A final order is expected later this year. The Company cannot reasonably estimate the range of loss, if any, that may result from this matter given the procedural status of the dispute, the wide range of possible outcomes, the legal issues presented (including the legal basis for the majority of the alleged violations), the inherent difficulty in predicting a regulatory fine in the event of a remand, and the various remedies and levels of judicial review that remain available to the Company.

Government Investigations, Audits and Reviews

The Company has been involved or is currently involved in various governmental investigations, audits and reviews. These include routine, regular and special investigations, audits and reviews by the CMS, state insurance and health and welfare departments, the Brazilian national regulatory agency for private health insurance and plans (the Agência Nacional de Saúde Suplementar), state attorneys general, the Office of the Inspector General, the Office of Personnel Management, the Office of

13

Civil Rights, the Government Accountability Office, the Federal Trade Commission, U.S. Congressional committees, the U.S. Department of Justice, the SEC, the Internal Revenue Service, the U.S. Drug Enforcement Administration, the Brazilian federal revenue service (the Secretaria da Receita Federal), the U.S. Department of Labor, the Federal Deposit Insurance Corporation, the Defense Contract Audit Agency and other governmental authorities. Certain of the Company’s businesses have been reviewed or are currently under review, including for, among other matters, compliance with coding and other requirements under the Medicare risk-adjustment model. CMS has selected certain of the Company’s local plans for risk adjustment data validation (RADV) audits to validate the coding practices of and supporting documentation maintained by health care providers and such audits may result in retrospective adjustments to payments made to the Company’s health plans.

On February 14, 2017, the Department of Justice (DOJ) announced its decision to pursue certain claims within a lawsuit initially asserted against the Company and filed under seal by a whistleblower in 2011. The whistleblower’s complaint, which was unsealed on February 15, 2017, alleges that the Company, along with a number of other Medicare Advantage plans, made improper risk adjustment submissions and violated the False Claims Act. On March 24, 2017, DOJ intervened in a separate lawsuit initially asserted against the Company and filed by a whistleblower in 2009 concerning risk adjustment submissions by Medicare Advantage plans. Both cases are now pending in the U.S. District Court for the Central District of California. DOJ filed its complaint in one case on May 1, 2017, and has been ordered to file its complaint in the other case by May 16, 2017. The Company cannot reasonably estimate the outcome that may result from these matters given their current posture.

8.    Segment Financial Information

The Company’s four reportable segments are UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. For more information on the Company’s segments see Part I, Item I, “Business” and Note 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K.

As of March 31, 2017, OptumHealth’s total assets were $24.7 billion as compared to $18.7 billion as of December 31, 2016. The increase was due to an acquisition completed during the three months ended March 31, 2017. Goodwill at the OptumHealth reportable segment increased during the first quarter of 2017 by $4.6 billion.

The following tables present reportable segment financial information:

			Optum
(in millions)	UnitedHealthcare		OptumHealth		OptumInsight		OptumRx		Optum Eliminations			Optum		Corporate and Eliminations			Consolidated
Three Months Ended March 31, 2017
Revenues - external customers:
Premiums	$	38,053	$	885	$	—	$	—	$	—		$	885	$	—		$	38,938
Products	—		12		21		6,096		—			6,129		—			6,129
Services	1,922		721		642		149		—			1,512		—			3,434
Total revenues - external customers	39,975		1,618		663		6,245		—			8,526		—			48,501
Total revenues - intersegment	—		3,059		1,179		8,698		(286		)	12,650		(12,650		)	—
Investment and other income	161		56		1		4		—			61		—			222
Total revenues	$	40,136	$	4,733	$	1,843	$	14,947	$	(286	)	$	21,237	$	(12,650	)	$	48,723
Earnings from operations	$	2,134	$	332	$	294	$	653	$	—		$	1,279	$	—		$	3,413
Interest expense	—		—		—		—		—			—		(283		)	(283		)
Earnings before income taxes	$	2,134	$	332	$	294	$	653	$	—		$	1,279	$	(283	)	$	3,130
Three Months Ended March 31, 2016
Revenues - external customers:
Premiums	$	33,963	$	848	$	—	$	—	$	—		$	848	$	—		$	34,811
Products	—		13		20		6,360		—			6,393		—			6,393
Services	1,796		612		606		126		—			1,344		—			3,140
Total revenues - external customers	35,759		1,473		626		6,486		—			8,585		—			44,344
Total revenues - intersegment	—		2,485		1,041		7,785		(254		)	11,057		(11,057		)	—
Investment and other income	141		40		—		2		—			42		—			183
Total revenues	$	35,900	$	3,998	$	1,667	$	14,273	$	(254	)	$	19,684	$	(11,057	)	$	44,527
Earnings from operations	$	1,854	$	300	$	246	$	560	$	—		$	1,106	$	—		$	2,960
Interest expense	—		—		—		—		—			—		(259		)	(259		)
Earnings before income taxes	$	1,854	$	300	$	246	$	560	$	—		$	1,106	$	(259	)	$	2,701

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read together with the accompanying Condensed Consolidated Financial Statements and Notes and with our 2016 10-K, including the Consolidated Financial Statements and Notes in Part II, Item 8, “Financial Statements” in that report. Unless the context indicates otherwise, references to the terms “UnitedHealth Group,” “we,” “our” or “us” used throughout this Management’s Discussion and Analysis of Financial Condition and Results of Operations refer to UnitedHealth Group Incorporated and its consolidated subsidiaries.

Readers are cautioned that the statements, estimates, projections or outlook contained in this Management's Discussion and Analysis of Financial Condition and Results of Operations, including discussions regarding financial prospects, economic conditions, trends and uncertainties contained in this Item 2, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed or implied in the forward-looking statements. A description of some of the risks and uncertainties is set forth in Part I, Item 1A, “Risk Factors” in our 2016 10-K and in the discussion below.

EXECUTIVE OVERVIEW

General

UnitedHealth Group is a diversified health and well-being company dedicated to helping people live healthier lives and helping to make the health system work better for everyone. Through our diversified family of businesses, we leverage core competencies in advanced, enabling technology; health care data; information and intelligence; and clinical care management and coordination to help meet the demands of the health system. These core competencies are deployed within our two distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.

Further information on our business is presented in Part I, Item 1, “Business” and Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2016 10-K and additional information on our segments can be found in this Item 2 and in Note 8 of Notes to the Condensed Consolidated Financial Statements included in Part I, Item 1 of this report.

Business Trends

Our businesses participate in the United States, Brazilian and certain other international health markets. In the United States, health care spending has grown consistently for many years and comprises approximately 18% of gross domestic product. We expect overall spending on health care to continue to grow in the future, due to inflation, medical technology and pharmaceutical advancement, regulatory requirements, demographic trends in the population and national interest in health and well-being. The rate of market growth may be affected by a variety of factors, including macro-economic conditions and regulatory changes, which have impacted and could further impact our results of operations.

Pricing Trends. To price our health care benefit products, we start with our view of expected future costs. We frequently evaluate and adjust our approach in each of the local markets we serve, considering all relevant factors, such as product positioning, price competitiveness and environmental, competitive, legislative and regulatory considerations.

The commercial risk market remains highly competitive in both the small group and large group segments. We expect broad-based competition to continue as the industry adapts to individual and employer needs amid reform changes. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. Pricing for contracts that cover some portion of calendar year 2018 will reflect the impact of the returning Health Insurance Industry Tax.

Medicare Advantage funding continues to be pressured, as discussed below in “Regulatory Trends and Uncertainties.”

Medical Cost Trends. Our medical cost trends primarily relate to changes in unit costs, health system utilization and prescription drug costs. We endeavor to mitigate those increases with medical management. Our 2017 management activities include managing costs across all health care categories, including specialty pharmacy spending, as new therapies are introduced at high costs and older drugs experience price increases.

Regulatory Trends and Uncertainties

Following is a summary of management’s view of the trends and uncertainties related to Medicare Advantage rates. For additional information regarding the ACA and other regulatory trends and uncertainties, see Part I, Item 1 “Business - Government Regulation”, Item 1A, “Risk Factors”, and Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2016 10-K.

15

Medicare Advantage Rates. Final 2018 Medicare Advantage rates resulted in an increase in industry base rates of approximately 0.45%, well short of the industry forward medical cost trend of 3%, which creates continued pressure in the Medicare Advantage program. The impact of this funding shortfall in Medicare Advantage is partially mitigated by reductions in provider payments for those care providers with rates indexed to Medicare Advantage revenues or Medicare fee-for-service payment rates. These factors can affect our plan benefit designs, pricing, growth prospects and earnings expectations for our Medicare Advantage plans.

As provided in the ACA, our Medicare Advantage rates are currently enhanced by CMS quality bonuses in certain counties based on our local plans’ Star ratings. The level of Star ratings from CMS, based upon specified clinical and operational performance standards, will impact future quality bonuses. In addition, Star ratings affect the amount of savings a plan can use to offer supplemental benefits, which ultimately may affect the plan’s membership and revenue. For the 2017 payment year, approximately 80% of our Medicare Advantage members are in plans rated four stars or higher. We expect at least 85% of our Medicare Advantage members will be in plans rated four stars or higher for payment year 2018. We continue to dedicate substantial resources to advance our quality scores and Star ratings to strengthen our local market programs and further improve our performance.

16

SELECTED OPERATING PERFORMANCE AND OTHER SIGNIFICANT ITEMS

The following summarizes select first quarter2017 year-over-year operating comparisons to first quarter2016 and other 2017 significant items.

• Consolidated revenues grew 9%, UnitedHealthcare revenues grew 12% and Optum revenues grew 8%.

• UnitedHealthcare grew to serve an additional 1.6 million people.

• Earnings from operations increased 15%, including increases of 15% at UnitedHealthcare and 16% at Optum.

• The effective income tax rate decreased 980 basis points to 30.0%.

• Diluted earnings per common share increased 34%.

• Cash flows from operations were $6.5 billion, aided by the March 2017 receipt of our April CMS premium payment of $4.4 billion.

RESULTS SUMMARY

The following table summarizes our consolidated results of operations and other financial information:

(in millions, except percentages and per share data)	Three Months Ended March 31,						Increase/(Decrease)
	2017			2016			2017 vs. 2016
Revenues:
Premiums	$	38,938		$	34,811		$	4,127		12	%
Products	6,129			6,393			(264		)	(4	)
Services	3,434			3,140			294			9
Investment and other income	222			183			39			21
Total revenues	48,723			44,527			4,196			9
Operating costs:
Medical costs	32,079			28,430			3,649			13
Operating costs	7,022			6,758			264			4
Cost of products sold	5,676			5,877			(201		)	(3	)
Depreciation and amortization	533			502			31			6
Total operating costs	45,310			41,567			3,743			9
Earnings from operations	3,413			2,960			453			15
Interest expense	(283		)	(259		)	(24		)	9
Earnings before income taxes	3,130			2,701			429			16
Provision for income taxes	(939		)	(1,074		)	135			(13	)
Net earnings	2,191			1,627			564			35
Earnings attributable to noncontrolling interests	(19		)	(16		)	(3		)	19	%
Net earnings attributable to UnitedHealth Group common shareholders	$	2,172		$	1,611		$	561		35	%
Diluted earnings per share attributable to UnitedHealth Group common shareholders	$	2.23		$	1.67		$	0.56		34	%
Medical care ratio (a)	82.4		%	81.7		%	0.7		%
Operating cost ratio	14.4			15.2			(0.8		)
Operating margin	7.0			6.6			0.4
Tax rate	30.0			39.8			(9.8		)
Net earnings margin (b)	4.5			3.6			0.9
Return on equity (c)	21.7		%	18.7		%	3.0		%

(a) Medical care ratio is calculated as medical costs divided by premium revenue.

(b) Net earnings margin attributable to UnitedHealth Group shareholders.

(c) Return on equity is calculated as annualized net earnings divided by average equity. Average equity is calculated using the equity balance at the end of the preceding year and the equity balances at the end of each of the quarters in the year presented.

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2017 RESULTS OF OPERATIONS COMPARED TO 2016 RESULTS OF OPERATIONS

Consolidated Financial Results

Revenues

The increase in revenues were primarily driven by organic growth in the number of individuals served across our benefits businesses and growth across all of Optum’s businesses. This increase was partially offset by revenue decreases due to withdrawals of individual ACA-compliant products in the individual market and the effects of the Health Insurance Industry Tax moratorium.

Medical Costs and Medical Care Ratio (MCR)

Medical costs increased due to risk-based membership growth and medical cost trends. The MCR increase was due to the effects of the Health Insurance Industry Tax moratorium offset primarily by the reduction of individual ACA business.

Income Tax Rate

Our effective tax rate decreased primarily due to the Health Insurance Industry Tax moratorium as well as higher excess tax benefits resulting from an increase in share-based payment activity.

Reportable Segments

See Note 8 of Notes to the Condensed Consolidated Financial Statements included in Part I, Item 1 of this report for more information on our segments. The following table presents a summary of the reportable segment financial information:

	Three Months Ended March 31,						Increase/(Decrease)
(in millions, except percentages)	2017			2016			2017 vs. 2016
Revenues
UnitedHealthcare	$	40,136		$	35,900		$	4,236		12	%
OptumHealth	4,733			3,998			735			18
OptumInsight	1,843			1,667			176			11
OptumRx	14,947			14,273			674			5
Optum eliminations	(286		)	(254		)	(32		)	13
Optum	21,237			19,684			1,553			8
Eliminations	(12,650		)	(11,057		)	(1,593		)	14
Consolidated revenues	$	48,723		$	44,527		$	4,196		9	%
Earnings from operations
UnitedHealthcare	$	2,134		$	1,854		$	280		15	%
OptumHealth	332			300			32			11
OptumInsight	294			246			48			20
OptumRx	653			560			93			17
Optum	1,279			1,106			173			16
Consolidated earnings from operations	$	3,413		$	2,960		$	453		15	%
Operating margin
UnitedHealthcare	5.3		%	5.2		%	0.1		%
OptumHealth	7.0			7.5			(0.5		)
OptumInsight	16.0			14.8			1.2
OptumRx	4.4			3.9			0.5
Optum	6.0			5.6			0.4
Consolidated operating margin	7.0		%	6.6		%	0.4		%

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UnitedHealthcare

The following table summarizes UnitedHealthcare revenues by business:

	Three Months Ended March 31,				Increase/(Decrease)
(in millions, except percentages)	2017		2016		2017 vs. 2016
UnitedHealthcare Employer & Individual	$	12,739	$	12,820	$	(81	)	(1	)%
UnitedHealthcare Medicare & Retirement	16,552		14,065		2,487			18
UnitedHealthcare Community & State	8,949		7,728		1,221			16
UnitedHealthcare Global	1,896		1,287		609			47
Total UnitedHealthcare revenues	$	40,136	$	35,900	$	4,236		12	%

The following table summarizes the number of individuals served by our UnitedHealthcare businesses, by major market segment and funding arrangement:

	March 31,		Increase/(Decrease)
(in thousands, except percentages)	2017	2016	2017 vs. 2016
Commercial group:
Risk-based	7,695	7,115	580		8	%
Fee-based	19,155	18,945	210		1
Total commercial group	26,850	26,060	790		3
Individual	585	1,485	(900	)	(61	)
Fee-based TRICARE	2,860	2,880	(20	)	(1	)
Total commercial	30,295	30,425	(130	)	—
Medicare Advantage	4,305	3,530	775		22
Medicaid	6,200	5,450	750		14
Medicare Supplement (Standardized)	4,350	4,200	150		4
Total public and senior	14,855	13,180	1,675		13
Total UnitedHealthcare - domestic medical	45,150	43,605	1,545		4
International	4,165	4,065	100		2
Total UnitedHealthcare - medical	49,315	47,670	1,645		3	%
Supplemental Data:
Medicare Part D stand-alone	4,955	4,990	(35	)	(1	)%

Growth in services to small groups led the overall increase in people served through risk-based benefit plans in the commercial group market. Membership in individual decreased due to our reduced participation in ACA-compliant products in 2017. Medicare Advantage increased year-over-year due to growth in people served through individual and employer-sponsored group Medicare Advantage plans. Medicaid growth was driven by the combination of new state-based awards and growth in established programs. Medicare Supplement growth reflected strong customer retention and new sales. 

UnitedHealthcare’s revenue increases were due to growth in the number of individuals served across its businesses and price increases for underlying medical cost trends, which were partially offset by the reduction of people served in ACA-compliant individual products and the impact of the Health Insurance Industry Tax moratorium.

The increase in UnitedHealthcare’s operating earnings was led by diversified growth and increased operating margin. The results for first quarter of 2016 included ACA-compliant losses in individual products.

Optum

Total revenues and operating earnings increased as each segment reported increased revenues and earnings from operations as a result of the factors discussed below.

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The results by segment were as follows:

OptumHealth

Revenue and earnings from operations increased at OptumHealth primarily due to growth in care delivery, behavioral services and health financial services.

OptumInsight

Revenue and earnings from operations at OptumInsight increased primarily due to growth in revenue management services, business process services and technology services.

OptumRx

Revenue and earnings from operations at OptumRx increased primarily due to client and consumer expansion. OptumRx fulfilled 322 million adjusted scripts in the first quarter of 2017 compared to 307 million in 2016.

LIQUIDITY, FINANCIAL CONDITION AND CAPITAL RESOURCES

Liquidity

Summary of our Major Sources and Uses of Cash and Cash Equivalents

	Three Months Ended March 31,						Increase/(Decrease)
(in millions)	2017			2016			2017 vs. 2016
Sources of cash:
Cash provided by operating activities	$	6,456		$	2,318		$	4,138
Issuances of commercial paper and long-term debt, net of repayments	—			1,599			(1,599		)
Proceeds from common stock issuances	270			198			72
Customer funds administered	3,217			1,067			2,150
Other	25			14			11
Total sources of cash	9,968			5,196
Uses of cash:
Common stock repurchases	(682		)	(500		)	(182		)
Cash paid for acquisitions, net of cash assumed	(468		)	(1,697		)	1,229
Purchases of investments, net of sales and maturities	(1,339		)	(2,073		)	734
Repayments of commercial paper and long-term debt, net of issuances	(189		)	—			(189		)
Purchases of property, equipment and capitalized software	(507		)	(425		)	(82		)
Cash dividends paid	(596		)	(477		)	(119		)
Other	(495		)	(385		)	(110		)
Total uses of cash	(4,276		)	(5,557		)
Effect of exchange rate changes on cash and cash equivalents	20			34			(14		)
Net increase (decrease) in cash and cash equivalents	$	5,712		$	(327	)	$	6,039

2017 Cash Flows Compared to 2016 Cash Flows

Increased cash flows provided by operating activities were primarily driven by the increase in unearned revenues, due to the March 2017 receipt of our April CMS premium payment of $4.4 billion, and higher net earnings, partially offset by the impact of the Health Insurance Industry Tax and the impact of discontinuing many ACA-compliant products.

Other significant changes in sources or uses of cash year-over-year included increased customer funds administered primarily due to the March receipt of our April CMS premium payment, decreased cash paid for acquisitions and net purchases of investments, partially offset by 2017 net repayments of debt compared to 2016 proceeds from debt issuances.

Financial Condition

As of March 31, 2017, our cash, cash equivalent and available-for-sale investment balances of $44.0 billion included $16.1 billion of cash and cash equivalents (of which approximately $700 million was available for general corporate use), $25.7 billion of debt securities and $2.1 billion of investments in equity securities. Given the significant portion of our portfolio held

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in cash equivalents, we do not anticipate fluctuations in the aggregate fair value of our financial assets to have a material impact on our liquidity or capital position. Our available-for-sale debt portfolio had a weighted-average duration of 3.5 years and a weighted-average credit rating of “AA” as of March 31, 2017. When multiple credit ratings are available for an individual security, the average of the available ratings is used to determine the weighted-average credit rating.

Capital Resources and Uses of Liquidity

In addition to cash flows from operations and cash and cash equivalent balances available for general corporate use, our capital resources and uses of liquidity are as follows:

Commercial Paper and Bank Credit Facilities. Our revolving bank credit facilities provide liquidity support for our commercial paper borrowing program, which facilitates the private placement of unsecured debt through third-party broker-dealers, and are available for general corporate purposes. For more information on our commercial paper and bank credit facilities, see Note 6 of Notes to the Condensed Consolidated Financial Statements included in Part I, Item 1 of this report.

Our revolving bank credit facilities contain various covenants, including covenants requiring us to maintain a defined debt to debt-plus-shareholders’ equity ratio of not more than 55%. As of March 31, 2017, our debt to debt-plus-shareholders’ equity ratio, as defined and calculated under the credit facilities, was approximately 42%.

Long-Term Debt. Periodically, we access capital markets and issue long-term debt for general corporate purposes, for example, to meet our working capital requirements, to refinance debt, to finance acquisitions or for share repurchases. For more information on our long-term debt, see Note 6 of Notes to the Condensed Consolidated Financial Statements included in Part I, Item 1 of this report.

Credit Ratings. Our credit ratings as of March 31, 2017 were as follows:

	Moody’s		Standard & Poor’s		Fitch		A.M. Best
	Ratings	Outlook	Ratings	Outlook	Ratings	Outlook	Ratings	Outlook
Senior unsecured debt	A3	Negative	A+	Negative	A-	Negative	bbb+	Stable
Commercial paper	P-2	n/a	A-1	n/a	F1	n/a	AMB-2	n/a

The availability of financing in the form of debt or equity is influenced by many factors, including our profitability, operating cash flows, debt levels, credit ratings, debt covenants and other contractual restrictions, regulatory requirements and economic and market conditions. For example, a significant downgrade in our credit ratings or adverse conditions in the capital markets may increase the cost of borrowing for us or limit our access to capital.

Share Repurchase Program. During the three months ended March 31, 2017, we repurchased 4 million shares at an average price of $160.72 per share. As of March 31, 2017, we had Board authorization to purchase up to an additional 47 million shares of our common stock.

Dividends. Our quarterly cash dividend to shareholders reflects an annual dividend rate of $2.50 per share.

For additional liquidity discussion, see Note 10 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 in our 2016 10-K.

CONTRACTUAL OBLIGATIONS AND COMMITMENTS

A summary of future obligations under our various contractual obligations and commitments as of December 31, 2016 was disclosed in our 2016 10-K. During the three months endedMarch 31, 2017, there were no material changes to this previously disclosed information outside the ordinary course of business. However, we continually evaluate opportunities to expand our operations, including through internal development of new products, programs and technology applications and acquisitions.

RECENTLY ISSUED ACCOUNTING STANDARDS

See Note 1 of Notes to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report for a discussion of new accounting pronouncements that affect us.

CRITICAL ACCOUNTING ESTIMATES

In preparing our Condensed Consolidated Financial Statements, we are required to make judgments, assumptions and estimates, which we believe are reasonable and prudent based on the available facts and circumstances. These judgments,

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assumptions and estimates affect certain of our revenues and expenses and their related balance sheet accounts and disclosure of our contingent liabilities. We base our assumptions and estimates primarily on historical experience and consider known and projected trends. On an ongoing basis, we re-evaluate our selection of assumptions and the method of calculating our estimates. Actual results, however, may materially differ from our calculated estimates and this difference would be reported in our current operations.

Our critical accounting estimates include medical costs payable, revenues, goodwill and other intangible assets and valuations of certain investments. For a detailed description of our critical accounting estimates, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 in our 2016 10-K. For a detailed discussion of our significant accounting policies, see Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in our 2016 10-K.

FORWARD-LOOKING STATEMENTS

The statements, estimates, projections, guidance or outlook contained in this document include “forward-looking” statements within the meaning of the PSLRA. These statements are intended to take advantage of the “safe harbor” provisions of the PSLRA. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “forecast,” “outlook,” “plan,” “project,” “should” and similar expressions identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors.

Some factors that could cause actual results to differ materially from results discussed or implied in the forward-looking statements include: our ability to effectively estimate, price for and manage our medical costs, including the impact of any new coverage requirements; new laws or regulations, or changes in existing laws or regulations, or their enforcement or application, including increases in medical, administrative, technology or other costs or decreases in enrollment resulting from U.S., Brazilian and other jurisdictions’ regulations affecting the health care industry; assessments for insolvent payers under state guaranty fund laws; our ability to maintain and achieve improvement in CMS star ratings and other quality scores that impact revenue; reductions in revenue or delays to cash flows received under Medicare, Medicaid and other government programs, including the effects of a prolonged U.S. government shutdown or debt ceiling constraints; changes in Medicare, including changes in payment methodology, the CMS star ratings program or the application of risk adjustment data validation audits; cyber-attacks or other privacy or data security incidents; failure to comply with privacy and data security regulations; regulatory and other risks and uncertainties of the pharmacy benefits management industry; competitive pressures, which could affect our ability to maintain or increase our market share; changes in or challenges to our public sector contract awards; our ability to execute contracts on competitive terms with physicians, hospitals and other service providers; failure to achieve targeted operating cost productivity improvements, including savings resulting from technology enhancement and administrative modernization; increases in costs and other liabilities associated with increased litigation, government investigations, audits or reviews; failure to manage successfully our strategic alliances or complete or receive anticipated benefits of acquisitions and other strategic transactions, fluctuations in foreign currency exchange rates on our reported shareholders’ equity and results of operations; downgrades in our credit ratings; the performance of our investment portfolio; impairment of the value of our goodwill and intangible assets if estimated future results do not adequately support goodwill and intangible assets recorded for our existing businesses or the businesses that we acquire; failure to maintain effective and efficient information systems or if our technology products do not operate as intended; and our ability to obtain sufficient funds from our regulated subsidiaries or the debt or capital markets to fund our obligations, to maintain our debt to total capital ratio at targeted levels, to maintain our quarterly dividend payment cycle or to continue repurchasing shares of our common stock.

This list of important factors is not intended to be exhaustive. We discuss certain of these matters more fully, as well as certain risk factors that may affect our business operations, financial condition and results of operations, in our other periodic and current filings with the SEC, including our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any or all forward-looking statements we make may turn out to be wrong, and can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. By their nature, forward-looking statements are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Actual future results may vary materially from expectations expressed or implied in this document or any of our prior communications. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update or revise any forward-looking statements, except as required by applicable securities laws.

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ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We manage exposure to market interest rates by diversifying investments across different fixed income market sectors and debt across maturities, as well as by endeavoring to match our floating-rate assets and liabilities over time, either directly or through the use of interest rate swap contracts. Unrealized gains and losses on investments in available-for-sale securities are reported in comprehensive income.

The following table summarizes the impact of hypothetical changes in market interest rates across the entire yield curve by 1% point or 2% points as of March 31, 2017 on our investment income and interest expense per annum, and the fair value of our investments and debt (in millions, except percentages):

	March 31, 2017
Increase (Decrease) in Market Interest Rate	Investment Income Per Annum (a)			Interest Expense Per Annum (a)			Fair Value of Financial Assets (b)			Fair Value of Financial Liabilities
2 %	$	378		$	234		$	(1,811	)	$	(3,926	)
1	189			117			(924		)	(2,110		)
(1)	(167		)	(115		)	902			2,573
(2)	nm			nm			1,566			5,530

nm = not meaningful

(a) Given the low absolute level of short-term market rates on our floating-rate assets and liabilities as of March 31, 2017, the assumed hypothetical change in interest rates does not reflect the full 100 basis point reduction in interest income or interest expense as the rate cannot fall below zero and thus the 200 basis point reduction is not meaningful.

(b) As of March 31, 2017, some of our investments had interest rates below 2% so the assumed hypothetical change in the fair value of investments does not reflect the full 200 basis point reduction.

ITEM 4.    CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

We maintain disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (Exchange Act) that are designed to provide reasonable assurance that information required to be disclosed by us in reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in SEC rules and forms; and (ii) accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

In connection with the filing of this quarterly report on Form 10-Q, management evaluated, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2017. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of March 31, 2017.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

There have been no changes in our internal control over financial reporting during the quarter ended March 31, 2017 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

A description of our legal proceedings is included in and incorporated by reference to Note 7 of Notes to the Condensed Consolidated Financial Statements contained in Part I, Item 1 of this report.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, Item 1A, “Risk Factors” of our 2016 10-K, which could materially affect our business, financial condition or future results. The risks described in our 2016 10-K are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or future results.

There have been no material changes to the risk factors disclosed in our 2016 10-K.

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ITEM 2.    UNREGISTERED SALE OF EQUITY SECURITIES AND USE OF PROCEEDS

In November 1997, our Board of Directors adopted a share repurchase program, which the Board evaluates periodically. There is no established expiration date for the program. During the first quarter 2017, we repurchased approximately 4 million shares at an average price of $160.72 per share. As of March 31, 2017, we had Board authorization to purchase up to 47 million shares of our common stock.

ITEM 6. EXHIBITS**

The following exhibits are filed or incorporated by reference herein in response to Item 601 of Regulation S-K. The Company files Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K pursuant to the Securities Exchange Act of 1934 under Commission File No. 1-10864.

3.1	Certificate of Incorporation of UnitedHealth Group Incorporated (incorporated by reference to Exhibit 3.1 to the Company's Registration Statement on Form 8-A/A filed on July 1, 2015)
3.2	Bylaws of UnitedHealth Group Incorporated, effective February 9, 2016 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on February 12, 2016)
4.1	Senior Indenture, dated as of November 15, 1998, between United HealthCare Corporation and The Bank of New York (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3/A, SEC File Number 333-66013, filed on January 11, 1999)
4.2	Amendment, dated as of November 6, 2000, to Senior Indenture, dated as of November 15, 1998, between UnitedHealth Group Incorporated and The Bank of New York (incorporated by reference to Exhibit 4.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2001)
4.3	Instrument of Resignation, Appointment and Acceptance of Trustee, dated January 8, 2007, pursuant to the Senior Indenture, dated as of November 15, 1998, amended November 6, 2000, among UnitedHealth Group Incorporated, The Bank of New York and Wilmington Trust Company (incorporated by reference to Exhibit 4.3 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2007)
4.4	Indenture, dated as of February 4, 2008, between UnitedHealth Group Incorporated and U.S. Bank National Association (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3, SEC File Number 333-149031, filed on February 4, 2008)
*10.1	Summary of Non-Management Director Compensation, effective as of October 1, 2016
12.1	Computation of Ratio of Earnings to Fixed Charges
31.1	Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101	The following materials from UnitedHealth Group Incorporated’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 filed on May 8, 2017, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations, (iii) Condensed Consolidated Statements of Comprehensive Income, (iv) Condensed Consolidated Statements of Changes in Equity, (v) Condensed Consolidated Statements of Cash Flows, and (vi) Notes to the Condensed Consolidated Financial Statements.

 ________________

*	Denotes management contracts and compensation plans in which certain directors and named executive officers participate and which are being filed pursuant to Item 601(b)(10)(iii)(A) of Regulation S-K.
**	Pursuant to Item 601(b)(4)(iii) of Regulation S-K, copies of instruments defining the rights of certain holders of long-term debt are not filed. The Company will furnish copies thereof to the SEC upon request.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

UNITEDHEALTH GROUP INCORPORATED

/s/ STEPHEN J. HEMSLEY	Chief Executive Officer (principal executive officer)	Dated:	May 8, 2017
Stephen J. Hemsley
/s/ JOHN F. REX	Executive Vice President and Chief Financial Officer (principal financial officer)	Dated:	May 8, 2017
John F. Rex
/S/ THOMAS E. ROOS	Senior Vice President and Chief Accounting Officer (principal accounting officer)	Dated:	May 8, 2017
Thomas E. Roos

25

EXHIBIT INDEX**

The following exhibits are filed or incorporated by reference herein in response to Item 601 of Regulation S-K. The Company files Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K pursuant to the Securities Exchange Act of 1934 under Commission File No. 1-10864.

3.1	Certificate of Incorporation of UnitedHealth Group Incorporated (incorporated by reference to Exhibit 3.1 to the Company's Registration Statement on Form 8-A/A filed on July 1, 2015)
3.2	Bylaws of UnitedHealth Group Incorporated, effective February 9, 2016 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on February 12, 2016)
4.1	Senior Indenture, dated as of November 15, 1998, between United HealthCare Corporation and The Bank of New York (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3/A, SEC File Number 333-66013, filed on January 11, 1999)
4.2	Amendment, dated as of November 6, 2000, to Senior Indenture, dated as of November 15, 1998, between UnitedHealth Group Incorporated and The Bank of New York (incorporated by reference to Exhibit 4.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2001)
4.3	Instrument of Resignation, Appointment and Acceptance of Trustee, dated January 8, 2007, pursuant to the Senior Indenture, dated as of November 15, 1998, amended November 6, 2000, among UnitedHealth Group Incorporated, The Bank of New York and Wilmington Trust Company (incorporated by reference to Exhibit 4.3 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2007)
4.4	Indenture, dated as of February 4, 2008, between UnitedHealth Group Incorporated and U.S. Bank National Association (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3, SEC File Number 333-149031, filed on February 4, 2008)
*10.1	Summary of Non-Management Director Compensation, effective as of October 1, 2016
12.1	Computation of Ratio of Earnings to Fixed Charges
31.1	Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101	The following materials from UnitedHealth Group Incorporated’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 filed on May 8, 2017, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations, (iii) Condensed Consolidated Statements of Comprehensive Income, (iv) Condensed Consolidated Statements of Changes in Equity, (v) Condensed Consolidated Statements of Cash Flows, and (vi) Notes to the Condensed Consolidated Financial Statements.

 ________________

*	Denotes management contracts and compensation plans in which certain directors and named executive officers participate and which are being filed pursuant to Item 601(b)(10)(iii)(A) of Regulation S-K.
**	Pursuant to Item 601(b)(4)(iii) of Regulation S-K, copies of instruments defining the rights of certain holders of long-term debt are not filed. The Company will furnish copies thereof to the SEC upon request.

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EX-10.1

Exhibit 10.1

Our compensation and benefit program is designed to compensate our non-employee directors fairly for work required for a company of our size and scope, and align their interests with the long-term interests of our shareholders. Director compensation reflects our desire to attract, retain and use the expertise of highly qualified people serving on the Company’s Board of Directors. The Compensation and Human Resources Committee reviews the compensation level of our non-employee directors on an annual basis and makes recommendations to the Board of Directors.

The Company uses annual retainers, equity-based compensation, expense reimbursement and other forms of compensation, as appropriate, to attract and retain non-employee directors.

Cash Compensation

Non-employee directors receive an annual cash retainer of $125,000. We pay an additional annual cash retainer of $300,000 to the Chair of the Board, an additional annual cash retainer of $25,000 to the Chair of the Audit Committee, and additional annual cash retainers of $20,000 to the Chair of the Compensation and Human Resources Committee, the Chair of the Nominating and Corporate Governance Committee and the Chair of the Public Policy Strategies and Responsibility Committee.

Cash retainers are payable on a quarterly basis in arrears on the first business day following the end of each fiscal quarter, and subject to pro-rata adjustment if the director did not serve the entire quarter. Directors may elect to receive deferred stock units (“DSUs”) or common stock (if the director has met the stock ownership guidelines) in lieu of their cash compensation or may defer receipt of their cash compensation to a later date pursuant to the Directors' Compensation Deferral Plan ("Director Deferral Plan").

Equity-Based Compensation

Non-employee directors receive annual grants of DSUs under the 2011 Stock Incentive Plan, as amended, having an annual aggregate fair value of $175,000, subject to rounding adjustments described below. The grants are issued quarterly in arrears on the first business day following the end of each fiscal quarter and prorated if the director did not serve the entire quarter. The number of DSUs granted is determined by dividing $43,750 (the quarterly value of the annual equity award) by the closing stock price on the grant date, rounded up to the nearest share.

The DSUs immediately vest upon grant and must be retained until completion of the director’s service on the Board of Directors. Upon completion of service, the DSUs convert into an equal number of shares of the Company’s common stock. A director may defer receipt of the shares for up to ten years after completion of service pursuant to the Director Deferral Plan. Non-employee directors who have met their stock ownership requirement may elect to receive common stock in lieu of DSUs and/or in-service distributions on pre-selected dates.

Effective October 1, 2016

Exhibit 10.1

If a director elects to convert his or her cash compensation into DSUs, such conversion grants are made on the day the eligible cash compensation becomes payable to the director and immediately vest upon grant. The director receives the number of DSUs equal to the cash compensation foregone, divided by the closing price of our common stock on the date of grant, rounded up to the nearest share. A director may only elect to receive common stock if he or she has met the stock ownership guidelines.

The Company pays dividend equivalents in the form of additional DSUs on all outstanding DSUs. Dividend equivalents are paid at the same rate and at the same time that dividends are paid to Company shareholders and are subject to the same vesting conditions as the underlying grant.

Director Deferral Plan

Under the Director Deferral Plan, subject to compliance with applicable laws, non-employee directors may elect annually to defer receipt of all or a percentage of their compensation. Amounts deferred are credited to a bookkeeping account maintained for each director participant that uses a collection of unaffiliated mutual funds as measuring investments. Subject to certain additional rules set forth in the Director Deferral Plan, a participating director may elect to receive the distribution in one of the following ways:

• a series of five or ten annual installments following the completion of his or her service on the Board of Directors;

• a delayed lump sum following either the fifth or tenth anniversary of the completion of his or her service on the Board of Directors;

• for cash deferrals, an immediate lump sum upon the completion of his or her service on the Board of Directors; or

• pre-selected amounts to be distributed on pre-selected dates while the director remains a member of the Board of Directors.

The Director Deferral Plan does not provide for matching contributions by the Company, but our Board of Directors may determine, in its discretion, to supplement the accounts of participating directors with additional amounts.

Other Compensation

We reimburse directors for any out-of-pocket expenses incurred in connection with service as a director. We also provide health care coverage to directors but only if the director is not eligible for coverage under another group health care benefit program. Health care coverage is provided generally on the same terms and conditions as current employees. Upon retirement from the Board of Directors, directors may continue to obtain health care coverage under benefit continuation coverage, and after the lapse of such coverage, under the Company’s post-employment medical plan for up to a total of 96 months if they are otherwise eligible.

The Company maintains a program through which it will match up to $15,000 of charitable donations made by each director for each calendar year. The directors do not receive any financial benefit from this program because the charitable income tax deductions accrue solely to the Company. Donations under the program may not be made to family trusts, partnerships or similar organizations.

Effective October 1, 2016

EX-12.1

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended March 31,
(dollars in millions)	2017		2016
Earnings before income taxes	$	3,130	$	2,701
Fixed charges	332		301
Total earnings available for fixed charges	$	3,462	$	3,002
Fixed Charges:
Interest expense	$	283	$	259
Interest component of rental payments	49		42
Total fixed charges	$	332	$	301
Ratio of earnings to fixed charges	10.4		10.0

The ratio of earnings to fixed charges is computed by dividing total earnings available for fixed charges by the fixed charges. For purposes of computing this ratio, fixed charges consist of interest expense plus the interest factor in rental expense.

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

Certification of Principal Executive Officer

 I, Stephen J. Hemsley, certify that:

1. I have reviewed this report on Form 10-Q of UnitedHealth Group Incorporated (the “registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

May 8, 2017	/s/ STEPHEN J. HEMSLEY
	Stephen J. Hemsley Chief Executive Officer

Certification of Principal Financial Officer

I, John F. Rex, certify that:

1. I have reviewed this report on Form 10-Q of UnitedHealth Group Incorporated (the “registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

May 8, 2017	/s/ JOHN F. REX
	John F. Rex Executive Vice President and Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATIONS PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Certification of Principal Executive Officer

In connection with the report of UnitedHealth Group Incorporated (the “Company”) on Form 10-Q for the period ended March 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Stephen J. Hemsley, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

May 8, 2017	/s/ STEPHEN J. HEMSLEY
	Stephen J. Hemsley Chief Executive Officer

Certification of Principal Financial Officer

In connection with the report of UnitedHealth Group Incorporated (the “Company”) on Form 10-Q for the period ended March 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John F. Rex, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

May 8, 2017	/s/ JOHN F. REX
	John F. Rex Executive Vice President and Chief Financial Officer

XML

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Entitiy Registrant Name	UNITEDHEALTH GROUP INC
Entitiy Central Index Key	0000731766
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		963,661,565

XML

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 16,142	$ 10,430
Short-term investments	3,210	2,845
Accounts receivable, net	9,595	8,152
Other current receivables, net	6,609	7,499
Assets under management	2,886	3,105
Prepaid expenses and other current assets	2,547	1,848
Total current assets	40,989	33,879
Long-term investments	25,760	23,868
Property, equipment and capitalized software, net	6,329	5,901
Goodwill	52,376	47,584
Other intangible assets, net	8,618	8,541
Other assets	3,085	3,037
Total assets	137,157	122,810
Current liabilities:
Medical costs payable	17,650	16,391
Accounts payable and accrued liabilities	13,473	13,361
Commercial paper and current maturities of long-term debt	7,747	7,193
Unearned revenues	6,475	1,968
Other current liabilities	12,198	10,339
Total current liabilities	57,543	49,252
Long-term debt, less current maturities	26,154	25,777
Future policy benefits	2,519	2,524
Deferred income taxes	2,894	2,761
Other liabilities	2,385	2,307
Total liabilities	91,495	82,621
Commitments and contingencies (Note 7)
Redeemable noncontrolling interests	1,667	2,012
Equity:
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value - 3,000 shares authorized; 965 and 952 issued and outstanding	10	10
Additional paid-in capital	1,819	0
Retained earnings	42,521	40,945
Accumulated other comprehensive loss	(2,447)	(2,681)
Nonredeemable noncontrolling interest	2,092	(97)
Total equity	43,995	38,177
Total liabilities, redeemable noncontrolling interests and equity	$ 137,157	$ 122,810

XML

Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2017	Dec. 31, 2016
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000	3,000
Common stock, shares issued	965	952
Common stock, shares outstanding	965	952
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10	10
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

XML

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Premiums	$ 38,938	$ 34,811
Products	6,129	6,393
Services	3,434	3,140
Investment and other income	222	183
Total revenues	48,723	44,527
Operating costs:
Medical costs	32,079	28,430
Operating costs	7,022	6,758
Cost of products sold	5,676	5,877
Depreciation and amortization	533	502
Total operating costs	45,310	41,567
Earnings from operations	3,413	2,960
Interest expense	(283)	(259)
Earnings before income taxes	3,130	2,701
Provision for income taxes	(939)	(1,074)
Net earnings	2,191	1,627
Earnings attributable to noncontrolling interests	(19)	(16)
Net earnings attributable to UnitedHealth Group common shareholders	$ 2,172	$ 1,611
Earnings per share attributable to UnitedHealth Group common shareholders:
Basic	$ 2.28	$ 1.69
Diluted	$ 2.23	$ 1.67
Basic weighted-average number of common shares outstanding	954	953
Dilutive effect of common share equivalents	21	14
Diluted weighted-average number of common shares outstanding	975	967
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents	9	7
Cash dividends declared per common share	$ 0.625	$ 0.500

XML

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net earnings	$ 2,191	$ 1,627
Other comprehensive income:
Gross unrealized gains on investment securities during the period	99	260
Income tax effect	(32)	(96)
Total unrealized gains, net of tax	67	164
Gross reclassification adjustment for net realized gains included in net earnings	(21)	(35)
Income tax effect	8	13
Total reclassification adjustment, net of tax	(13)	(22)
Total foreign currency translation gains	180	388
Other comprehensive income	234	530
Comprehensive income	2,425	2,157
Comprehensive income attributable to noncontrolling interests	(19)	(16)
Comprehensive income attributable to UnitedHealth Group common shareholders	$ 2,406	$ 2,141

XML

Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Net Unrealized Gains (Losses) on Investments [Member]	Foreign Currency Translation (Losses) Gains [Member]	Nonredeemable Noncontrolling Interest [Member]
Balance (in shares) at Dec. 31, 2015		953
Balance at Dec. 31, 2015	$ 33,725	$ 10	$ 29	$ 37,125	$ 56	$ (3,390)	$ (105)
Adjustment to adopt ASU 2016-09	28			28
Net earnings attributable to UnitedHealth Group common shareholders	1,611			1,611
Net earnings attributable to nonredeemable noncontrolling interest							11
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest	1,622
Other comprehensive income	530				142	388
Issuances of common stock, and related tax effects (in shares)		5
Issuances of common stock, and related tax effects	56	$ 0	56
Share-based compensation	150		150
Common share repurchases (in shares)		(4)
Common share repurchases	(500)	$ 0	(176)	(324)
Cash dividends paid on common shares	(477)			(477)
Redeemable noncontrolling interests fair value and other adjustments	(59)		(59)
Distribution to nonredeemable noncontrolling interest	(8)						(8)
Balance (in shares) at Mar. 31, 2016		954
Balance at Mar. 31, 2016	$ 35,067	$ 10	0	37,963	198	(3,002)	(102)
Balance (in shares) at Dec. 31, 2016	952	952
Balance at Dec. 31, 2016	$ 38,177	$ 10	0	40,945	(97)	(2,584)	(97)
Net earnings attributable to UnitedHealth Group common shareholders	2,172			2,172
Net earnings attributable to nonredeemable noncontrolling interest							9
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest	2,181
Other comprehensive income	234				54	180
Issuances of common stock, and related tax effects (in shares)		17
Issuances of common stock, and related tax effects	1,923	$ 0	1,923
Share-based compensation	189		189
Common share repurchases (in shares)		(4)
Common share repurchases	(682)	$ 0	(682)	0
Cash dividends paid on common shares	(596)			(596)
Redeemable noncontrolling interests fair value and other adjustments	389		389
Acquisition of nonredeemable noncontrolling interests	2,191						2,191
Distribution to nonredeemable noncontrolling interest	$ (11)						(11)
Balance (in shares) at Mar. 31, 2017	965	965
Balance at Mar. 31, 2017	$ 43,995	$ 10	$ 1,819	$ 42,521	$ (43)	$ (2,404)	$ 2,092

XML

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net earnings	$ 2,191	$ 1,627
Noncash items:
Depreciation and amortization	533	502
Deferred income taxes	(89)	145
Share-based compensation	196	157
Other, net	43	6
Net change in other operating items, net of effects from acquisitions and changes in AARP balances:
Accounts receivable	(1,232)	(1,110)
Other assets	(998)	(2,162)
Medical costs payable	1,024	1,368
Accounts payable and other liabilities	292	2,036
Unearned revenues	4,496	(251)
Cash flows from operating activities	6,456	2,318
Investing activities
Purchases of investments	(3,683)	(5,173)
Sales of investments	1,018	2,122
Maturities of investments	1,326	978
Cash paid for acquisitions, net of cash assumed	(468)	(1,697)
Purchases of property, equipment and capitalized software	(507)	(425)
Other, net	25	14
Cash flows used for investing activities	(2,289)	(4,181)
Financing activities
Common share repurchases	(682)	(500)
Cash dividends paid	(596)	(477)
Proceeds from common stock issuances	270	198
Proceeds from issuance of long-term debt	1,342	2,485
Repayments of long-term debt	(1,392)	(601)
Repayments of commercial paper, net	(139)	(285)
Customer funds administered	3,217	1,067
Other, net	(495)	(385)
Cash flows from financing activities	1,525	1,502
Effect of exchange rate changes on cash and cash equivalents	20	34
Increase (decrease) in cash and cash equivalents	5,712	(327)
Cash and cash equivalents, beginning of period	10,430	10,923
Cash and Cash Equivalents, end of period	16,142	10,596
Supplemental Schedule of Noncash Investing Activities
Common stock issued for acquisition	$ 1,860	$ 0

XML

Basis of Presentation (Notes)

3 Months Ended

Mar. 31, 2017

Basis of Presentation and Significant Accounting Policies [Text Block]

Basis of Presentation and Significant Accounting Policies

UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and “the Company”) is a diversified health and well-being company dedicated to helping people live healthier lives and helping to make the health system work better for everyone. Through its diversified family of businesses, the Company leverages core competencies in advanced, enabling technology; health care data, information and intelligence; and clinical care management and coordination to help meet the demands of the health system. These core competencies are deployed within the Company’s two distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.

The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC (2016 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly.

Use of Estimates

These Condensed Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted.

Revenues

The Company’s revenues include premium, product, and service revenues. Service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For more information about the Company’s revenues, see Notes 2 and 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K. See Note 8 for disaggregation of revenue by segment and type.

As of March 31, 2017, accounts receivables related to products and services were $3.3 billion. For the three months ended March 31, 2017, the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costsrecorded on the Condensed Consolidated Balance Sheet as of March 31, 2017.

For the three months ended March 31, 2017, revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material.

Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material.

Health Insurance Industry Tax

The Patient Protection and Affordable Care Act (ACA) included an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. The Company has experienced a lower effective income tax rate in 2017 as compared to 2016 primarily due to the moratorium.

The remainder of the accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K remain unchanged.

Recently Issued Accounting Standards

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption.

In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. As of March 31, 2017, based on equity securities held, the Company does not expect ASU 2016-01 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. The Company will continue to evaluate any changes in its mix of investments or market conditions and the related impact of ASU 2016-01.

Recently Adopted Accounting Standards

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the three months ended March 31, 2017. The Company has included the disclosures required by ASU 2014-09 above.

The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements.

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Investments (Notes)

3 Months Ended

Mar. 31, 2017

Investments [Abstract]

Investments [Text Block]

Investments

A summary of short-term and long-term investments by major security type is as follows:

(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2017
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,529	$	2	$	(28	)	$	2,503
State and municipal obligations	7,020		64		(64		)	7,020
Corporate obligations	11,879		48		(46		)	11,881
U.S. agency mortgage-backed securities	3,345		7		(44		)	3,308
Non-U.S. agency mortgage-backed securities	999		2		(10		)	991
Total debt securities - available-for-sale	25,772		123		(192		)	25,703
Equity securities	2,120		43		(42		)	2,121
Debt securities - held-to-maturity:
U.S. government and agency obligations	259		1		—			260
State and municipal obligations	5		—		—			5
Corporate obligations	288		—		—			288
Total debt securities - held-to-maturity	552		1		—			553
Total investments	$	28,444	$	167	$	(234	)	$	28,377
December 31, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,294	$	1	$	(31	)	$	2,264
State and municipal obligations	7,120		40		(101		)	7,059
Corporate obligations	10,944		41		(58		)	10,927
U.S. agency mortgage-backed securities	2,963		7		(43		)	2,927
Non-U.S. agency mortgage-backed securities	1,009		3		(10		)	1,002
Total debt securities - available-for-sale	24,330		92		(243		)	24,179
Equity securities	2,036		52		(47		)	2,041
Debt securities - held-to-maturity:
U.S. government and agency obligations	250		1		—			251
State and municipal obligations	5		—		—			5
Corporate obligations	238		—		—			238
Total debt securities - held-to-maturity	493		1		—			494
Total investments	$	26,859	$	145	$	(290	)	$	26,714

The amortized cost and fair value of debt securities as of March 31, 2017, by contractual maturity, were as follows:

	Available-for-Sale				Held-to-Maturity
(in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	3,291	$	3,293	$	191	$	191
Due after one year through five years	10,041		10,049		111		111
Due after five years through ten years	6,090		6,069		120		120
Due after ten years	2,006		1,993		130		131
U.S. agency mortgage-backed securities	3,345		3,308		—		—
Non-U.S. agency mortgage-backed securities	999		991		—		—
Total debt securities	$	25,772	$	25,703	$	552	$	553

The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows:

	Less Than 12 Months					12 Months or Greater					Total
(in millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
March 31, 2017
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,077	$	(28	)	$	—	$	—		$	2,077	$	(28	)
State and municipal obligations	3,187		(64		)	—		—			3,187		(64		)
Corporate obligations	4,567		(44		)	81		(2		)	4,648		(46		)
U.S. agency mortgage-backed securities	2,406		(41		)	76		(3		)	2,482		(44		)
Non-U.S. agency mortgage-backed securities	616		(8		)	47		(2		)	663		(10		)
Total debt securities - available-for-sale	$	12,853	$	(185	)	$	204	$	(7	)	$	13,057	$	(192	)
Equity securities	$	75	$	(4	)	$	101	$	(38	)	$	176	$	(42	)
December 31, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,794	$	(31	)	$	—	$	—		$	1,794	$	(31	)
State and municipal obligations	4,376		(101		)	—		—			4,376		(101		)
Corporate obligations	5,128		(56		)	137		(2		)	5,265		(58		)
U.S. agency mortgage-backed securities	2,247		(40		)	79		(3		)	2,326		(43		)
Non-U.S. agency mortgage-backed securities	544		(7		)	97		(3		)	641		(10		)
Total debt securities - available-for-sale	$	14,089	$	(235	)	$	313	$	(8	)	$	14,402	$	(243	)
Equity securities	$	93	$	(5	)	$	91	$	(42	)	$	184	$	(47	)

The Company’s unrealized losses from all securities as of March 31, 2017 were generated from more than 10,000 positions out of a total of 27,000 positions. The Company believes that it will collect the principal and interest due on its debt securities that have an amortized cost in excess of fair value. The unrealized losses were primarily caused by interest rate increases and not by unfavorable changes in the credit quality associated with these securities. At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting no significant deterioration since purchase. As of March 31, 2017, the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary.

The Company’s investments in equity securities consist of investments in Brazilian real denominated fixed-income funds, employee savings plan related investments, venture capital funds, and dividend paying stocks. The Company evaluated its investments in equity securities for severity and duration of unrealized loss, overall market volatility and other market factors. Additionally, as of March 31, 2017, the Company’s investments included $594 million in equity method investments that were obtained as part of a 2017 acquisition.

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Fair Value (Notes)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value [Text Block]

Fair Value

Certain assets and liabilities are measured at fair value in the Condensed Consolidated Financial Statements or have fair values disclosed in the Notes to the Condensed Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP.

For a description of the methods and assumptions that are used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument, see Note 4 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K.

The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

(in millions)	Quoted Prices in Active Markets (Level 1)			Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total Fair and Carrying Value
March 31, 2017
Cash and cash equivalents	$	16,101		$	41		$	—		$	16,142
Debt securities - available-for-sale:
U.S. government and agency obligations	2,220			283			—			2,503
State and municipal obligations	—			7,020			—			7,020
Corporate obligations	26			11,744			111			11,881
U.S. agency mortgage-backed securities	—			3,308			—			3,308
Non-U.S. agency mortgage-backed securities	—			991			—			991
Total debt securities - available-for-sale	2,246			23,346			111			25,703
Equity securities	1,666			12			443			2,121
Assets under management	888			1,998			—			2,886
Interest rate swap assets	—			45			—			45
Total assets at fair value	$	20,901		$	25,442		$	554		$	46,897
Percentage of total assets at fair value	45		%	54		%	1		%	100		%
Interest rate swap liabilities	$	—		$	19		$	—		$	19
December 31, 2016
Cash and cash equivalents	$	10,386		$	44		$	—		$	10,430
Debt securities - available-for-sale:
U.S. government and agency obligations	2,017			247			—			2,264
State and municipal obligations	—			7,059			—			7,059
Corporate obligations	21			10,804			102			10,927
U.S. agency mortgage-backed securities	—			2,927			—			2,927
Non-U.S. agency mortgage-backed securities	—			1,002			—			1,002
Total debt securities - available-for-sale	2,038			22,039			102			24,179
Equity securities	1,591			13			437			2,041
Assets under management	1,064			2,041			—			3,105
Interest rate swap assets	—			55			—			55
Total assets at fair value	$	15,079		$	24,192		$	539		$	39,810
Percentage of total assets at fair value	38		%	61		%	1		%	100		%
Interest rate swap liabilities	$	—		$	14		$	—		$	14

Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there were no transfers between Levels 1, 2 or 3 of any financial assets or liabilities during the three months ended March 31, 2017 or 2016.

The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total Fair Value		Total Carrying Value
March 31, 2017
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	257	$	3	$	—	$	260	$	259
State and municipal obligations	—		—		5		5		5
Corporate obligations	18		2		268		288		288
Total debt securities - held-to-maturity	$	275	$	5	$	273	$	553	$	552
Other assets	$	—	$	468	$	—	$	468	$	465
Long-term debt and other financing obligations	$	—	$	32,489	$	—	$	32,489	$	30,399
December 31, 2016
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	251	$	—	$	—	$	251	$	250
State and municipal obligations	—		—		5		5		5
Corporate obligations	20		8		210		238		238
Total debt securities - held-to-maturity	$	271	$	8	$	215	$	494	$	493
Other assets	$	—	$	476	$	—	$	476	$	471
Long-term debt and other financing obligations	$	—	$	31,295	$	—	$	31,295	$	29,337

Nonfinancial assets and liabilities or financial assets and liabilities that are measured at fair value on a nonrecurring basis are subject to fair value adjustments only in certain circumstances, such as when the Company records an impairment. There were no significant fair value adjustments for these assets and liabilities recorded during the three months endedMarch 31, 2017 or 2016.

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Other Current Receivables (Notes)

3 Months Ended

Mar. 31, 2017

Other Current Receivables [Line Items]

Other Current Receivables [Text Block]

Other Current Receivables

The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by the Company’s clients. As of March 31, 2017 and December 31, 2016, total pharmaceutical manufacturer rebates receivable included in other receivables in the Condensed Consolidated Balance Sheets amounted to $4.0 billion and $3.3 billion, respectively. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K for more information on the Company’s pharmaceutical manufacturer rebates.

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Medical Costs Payable (Notes)

3 Months Ended

Mar. 31, 2017

Medical Costs Payable Text Block

Medical Costs Payable

The following table shows the components of the change in medical costs payable for the three months ended March 31:

(in millions)	2017			2016
Medical costs payable, beginning of period	$	16,391		$	14,330
Acquisitions	76			—
Reported medical costs:
Current year	32,529			28,790
Prior years	(450		)	(360		)
Total reported medical costs	32,079			28,430
Medical payments:
Payments for current year	(18,742		)	(15,797		)
Payments for prior years	(12,154		)	(11,140		)
Total medical payments	(30,896		)	(26,937		)
Medical costs payable, end of period	$	17,650		$	15,823

For the three months ended March 31, 2017 and 2016 the medical cost reserve development included no individual factors that were material. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $12.5 billion and $11.6 billion at March 31, 2017 and December 31, 2016, respectively.

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Commercial Paper and Long-Term Debt (Notes)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Commercial Paper and Long-Term Debt [Text Block]

Commercial Paper and Long-Term Debt

Commercial paper and senior unsecured long-term debt consisted of the following:

	March 31, 2017						December 31, 2016
(in millions, except percentages)	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value		Fair Value
Commercial paper	$	3,502	$	3,502	$	3,502	$	3,633	$	3,633	$	3,633
Floating rate notes due January 2017	—		—		—		750		750		750
6.000% notes due June 2017	441		443		445		441		446		450
1.450% notes due July 2017	750		750		751		750		750		751
1.400% notes due October 2017	625		625		625		625		624		626
6.000% notes due November 2017	156		158		161		156		159		163
1.400% notes due December 2017	750		750		750		750		751		750
6.000% notes due February 2018	1,100		1,106		1,142		1,100		1,107		1,153
1.900% notes due July 2018	1,500		1,497		1,507		1,500		1,496		1,507
1.700% notes due February 2019	750		748		750		750		748		748
1.625% notes due March 2019	500		501		498		500		501		498
2.300% notes due December 2019	500		497		505		500		498		504
2.700% notes due July 2020	1,500		1,495		1,530		1,500		1,495		1,523
3.875% notes due October 2020	450		449		475		450		450		474
4.700% notes due February 2021	400		407		433		400		409		433
2.125% notes due March 2021	750		746		744		750		745		741
3.375% notes due November 2021	500		496		520		500		497		519
2.875% notes due December 2021	750		746		765		750		748		760
2.875% notes due March 2022	1,100		1,056		1,122		1,100		1,057		1,114
3.350% notes due July 2022	1,000		995		1,035		1,000		995		1,030
0.000% notes due November 2022	15		11		12		15		11		12
2.750% notes due February 2023	625		608		623		625		609		622
2.875% notes due March 2023	750		768		752		750		771		753
3.750% notes due July 2025	2,000		1,986		2,089		2,000		1,986		2,070
3.100% notes due March 2026	1,000		994		992		1,000		994		986
3.450% notes due January 2027	750		745		761		750		745		762
3.375% notes due April 2027	625		618		629		—		—		—
4.625% notes due July 2035	1,000		991		1,090		1,000		991		1,090
5.800% notes due March 2036	850		837		1,048		850		837		1,034
6.500% notes due June 2037	500		491		655		500		491		643
6.625% notes due November 2037	650		640		865		650		640		850
6.875% notes due February 2038	1,100		1,075		1,495		1,100		1,075		1,497
5.700% notes due October 2040	300		296		365		300		296		366
5.950% notes due February 2041	350		345		441		350		345		437
4.625% notes due November 2041	600		588		637		600		588		634
4.375% notes due March 2042	502		483		520		502		483		509
3.950% notes due October 2042	625		606		608		625		606		609
4.250% notes due March 2043	750		734		764		750		734		765
4.750% notes due July 2045	2,000		1,972		2,192		2,000		1,972		2,203
4.200% notes due January 2047	750		738		762		750		737		759
4.250% notes due April 2047	725		717		740		—		—		—
Total commercial paper and long-term debt	$	33,491	$	33,210	$	35,300	$	33,022	$	32,770	$	34,728

During the first quarter of 2017, the Company assumed $926 million in debt of an acquired company, of which $642 million was repaid in the first quarter. The Company repaid the remainder of the acquired debt in the second quarter of 2017. The Company’s long-term debt obligations also included $407 million and $200 million of other financing obligations, of which $129 million and $80 million were classified as current as of March 31, 2017 and December 31, 2016, respectively.

Commercial Paper and Bank Credit Facilities

Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of March 31, 2017, the Company’s outstanding commercial paper had a weighted-average annual interest rate of 1.1%.

The Company has $3.0 billion five-year, $2.0 billion three-year and $1.0 billion 364-day revolving bank credit facilities with 23 banks, which mature in December 2021, December 2019 and December 2017, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of March 31, 2017, no amounts had been drawn on any of the bank credit facilities. The annual interest rates, which are variable based on term, are calculated based on the London Interbank Offered Rate (LIBOR) plus a credit spread based on the Company’s senior unsecured credit ratings. If amounts had been drawn on the bank credit facilities as of March 31, 2017, annual interest rates would have ranged from 1.8% to 2.3%.

Debt Covenants

The Company’s bank credit facilities contain various covenants, including covenants requiring the Company to maintain adefined debt to debt-plus-shareholders’ equity ratio of not more than 55%. The Company was in compliance with its debt covenants as of March 31, 2017.

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Commitments and Contingencies (Notes)

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Commitments and Contingencies

Legal Matters

Because of the nature of its businesses, the Company is frequently made party to a variety of legal actions and regulatory inquiries, including class actions and suits brought by members, care providers, consumer advocacy organizations, customers and regulators, relating to the Company’s businesses, including management and administration of health benefit plans and other services. These matters include medical malpractice, employment, intellectual property, antitrust, privacy and contract claims and claims related to health care benefits coverage and other business practices.

The Company records liabilities for its estimates of probable costs resulting from these matters where appropriate. Estimates of costs resulting from legal and regulatory matters involving the Company are inherently difficult to predict, particularly where the matters: involve indeterminate claims for monetary damages or may involve fines, penalties or punitive damages; present novel legal theories or represent a shift in regulatory policy; involve a large number of claimants or regulatory bodies; are in the early stages of the proceedings; or could result in a change in business practices. Accordingly, the Company is often unable to estimate the losses or ranges of losses for those matters where there is a reasonable possibility or it is probable that a loss may be incurred.

Litigation Matters

California Claims Processing Matter.On January 25, 2008, the California Department of Insurance (CDI) issued an Order to Show Cause to PacifiCare Life and Health Insurance Company, a subsidiary of the Company, alleging violations of certain insurance statutes and regulations related to an alleged failure to include certain language in standard claims correspondence, timeliness and accuracy of claims processing, interest payments, care provider contract implementation, care provider dispute resolution and other related matters. Although the Company believes that CDI had never before issued a fine in excess of $8 million, CDI advocated a fine of approximately $325 million in this matter. The matter was the subject of an administrative hearing before a California administrative law judge beginning in December 2009, and in August 2013, the administrative law judge issued a nonbinding proposed decision recommending a fine of $11.5 million. The California Insurance Commissioner rejected the administrative law judge’s recommendation and on June 9, 2014, issued his own decision imposing a fine of approximately $174 million. On July 10, 2014, the Company filed a lawsuit in California state court challenging the Commissioner’s decision. On September 8, 2015, in the first phase of that lawsuit, the California state court issued an order invalidating certain of the regulations the Commissioner had relied upon in issuing his decision and penalty. In March 2017, the court entered a tentative ruling reversing all of the penalties imposed and remanding certain further issues to the Commissioner. A final order is expected later this year. The Company cannot reasonably estimate the range of loss, if any, that may result from this matter given the procedural status of the dispute, the wide range of possible outcomes, the legal issues presented (including the legal basis for the majority of the alleged violations), the inherent difficulty in predicting a regulatory fine in the event of a remand, and the various remedies and levels of judicial review that remain available to the Company.

Government Investigations, Audits and Reviews

The Company has been involved or is currently involved in various governmental investigations, audits and reviews. These include routine, regular and special investigations, audits and reviews by the CMS, state insurance and health and welfare departments, the Brazilian national regulatory agency for private health insurance and plans (the Agência Nacional de Saúde Suplementar), state attorneys general, the Office of the Inspector General, the Office of Personnel Management, the Office of Civil Rights, the Government Accountability Office, the Federal Trade Commission, U.S. Congressional committees, the U.S. Department of Justice, the SEC, the Internal Revenue Service, the U.S. Drug Enforcement Administration, the Brazilian federal revenue service (the Secretaria da Receita Federal), the U.S. Department of Labor, the Federal Deposit Insurance Corporation, the Defense Contract Audit Agency and other governmental authorities. Certain of the Company’s businesses have been reviewed or are currently under review, including for, among other matters, compliance with coding and other requirements under the Medicare risk-adjustment model. CMS has selected certain of the Company’s local plans for risk adjustment data validation (RADV) audits to validate the coding practices of and supporting documentation maintained by health care providers and such audits may result in retrospective adjustments to payments made to the Company’s health plans.

On February 14, 2017, the Department of Justice (DOJ) announced its decision to pursue certain claims within a lawsuit initially asserted against the Company and filed under seal by a whistleblower in 2011. The whistleblower’s complaint, which was unsealed on February 15, 2017, alleges that the Company, along with a number of other Medicare Advantage plans, made improper risk adjustment submissions and violated the False Claims Act. On March 24, 2017, DOJ intervened in a separate lawsuit initially asserted against the Company and filed by a whistleblower in 2009 concerning risk adjustment submissions by Medicare Advantage plans. Both cases are now pending in the U.S. District Court for the Central District of California. DOJ filed its complaint in one case on May 1, 2017, and has been ordered to file its complaint in the other case by May 16, 2017. The Company cannot reasonably estimate the outcome that may result from these matters given their current posture.

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Segment Financial Information (Notes)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Financial Information [Text Block]

Segment Financial Information

The Company’s four reportable segments are UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. For more information on the Company’s segments see Part I, Item I, “Business” and Note 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K.

As of March 31, 2017, OptumHealth’s total assets were $24.7 billion as compared to $18.7 billion as of December 31, 2016. The increase was due to an acquisition completed during the three months ended March 31, 2017. Goodwill at the OptumHealth reportable segment increased during the first quarter of 2017 by $4.6 billion.

The following tables present reportable segment financial information:

			Optum
(in millions)	UnitedHealthcare		OptumHealth		OptumInsight		OptumRx		Optum Eliminations			Optum		Corporate and Eliminations			Consolidated
Three Months Ended March 31, 2017
Revenues - external customers:
Premiums	$	38,053	$	885	$	—	$	—	$	—		$	885	$	—		$	38,938
Products	—		12		21		6,096		—			6,129		—			6,129
Services	1,922		721		642		149		—			1,512		—			3,434
Total revenues - external customers	39,975		1,618		663		6,245		—			8,526		—			48,501
Total revenues - intersegment	—		3,059		1,179		8,698		(286		)	12,650		(12,650		)	—
Investment and other income	161		56		1		4		—			61		—			222
Total revenues	$	40,136	$	4,733	$	1,843	$	14,947	$	(286	)	$	21,237	$	(12,650	)	$	48,723
Earnings from operations	$	2,134	$	332	$	294	$	653	$	—		$	1,279	$	—		$	3,413
Interest expense	—		—		—		—		—			—		(283		)	(283		)
Earnings before income taxes	$	2,134	$	332	$	294	$	653	$	—		$	1,279	$	(283	)	$	3,130
Three Months Ended March 31, 2016
Revenues - external customers:
Premiums	$	33,963	$	848	$	—	$	—	$	—		$	848	$	—		$	34,811
Products	—		13		20		6,360		—			6,393		—			6,393
Services	1,796		612		606		126		—			1,344		—			3,140
Total revenues - external customers	35,759		1,473		626		6,486		—			8,585		—			44,344
Total revenues - intersegment	—		2,485		1,041		7,785		(254		)	11,057		(11,057		)	—
Investment and other income	141		40		—		2		—			42		—			183
Total revenues	$	35,900	$	3,998	$	1,667	$	14,273	$	(254	)	$	19,684	$	(11,057	)	$	44,527
Earnings from operations	$	1,854	$	300	$	246	$	560	$	—		$	1,106	$	—		$	2,960
Interest expense	—		—		—		—		—			—		(259		)	(259		)
Earnings before income taxes	$	1,854	$	300	$	246	$	560	$	—		$	1,106	$	(259	)	$	2,701

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Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2017

Basis of presentation [Abstract]

Basis of Accounting, Policy [Policy Text Block]

The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC (2016 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

These Condensed Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted.

Revenue Recognition, Policy [Policy Text Block]

Revenues

The Company’s revenues include premium, product, and service revenues. Service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For more information about the Company’s revenues, see Notes 2 and 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K. See Note 8 for disaggregation of revenue by segment and type.

As of March 31, 2017, accounts receivables related to products and services were $3.3 billion. For the three months ended March 31, 2017, the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costsrecorded on the Condensed Consolidated Balance Sheet as of March 31, 2017.

For the three months ended March 31, 2017, revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material.

Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material.

Health Insurance Industry Tax, Accounting Policy [Policy Text Block]

Health Insurance Industry Tax

The Patient Protection and Affordable Care Act (ACA) included an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. The Company has experienced a lower effective income tax rate in 2017 as compared to 2016 primarily due to the moratorium.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption.

In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. As of March 31, 2017, based on equity securities held, the Company does not expect ASU 2016-01 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. The Company will continue to evaluate any changes in its mix of investments or market conditions and the related impact of ASU 2016-01.

Recently Adopted Accounting Standards

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the three months ended March 31, 2017. The Company has included the disclosures required by ASU 2014-09 above.

The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements.

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Investments Investments (Policies)

3 Months Ended

Mar. 31, 2017

Investment [Line Items]

Investment, Policy [Policy Text Block]

At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting no significant deterioration since purchase. As of March 31, 2017, the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary

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Investments (Tables)

3 Months Ended

Mar. 31, 2017

Short-Term and Long-Term Investments [Table Text Block]

A summary of short-term and long-term investments by major security type is as follows:

(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2017
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,529	$	2	$	(28	)	$	2,503
State and municipal obligations	7,020		64		(64		)	7,020
Corporate obligations	11,879		48		(46		)	11,881
U.S. agency mortgage-backed securities	3,345		7		(44		)	3,308
Non-U.S. agency mortgage-backed securities	999		2		(10		)	991
Total debt securities - available-for-sale	25,772		123		(192		)	25,703
Equity securities	2,120		43		(42		)	2,121
Debt securities - held-to-maturity:
U.S. government and agency obligations	259		1		—			260
State and municipal obligations	5		—		—			5
Corporate obligations	288		—		—			288
Total debt securities - held-to-maturity	552		1		—			553
Total investments	$	28,444	$	167	$	(234	)	$	28,377
December 31, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,294	$	1	$	(31	)	$	2,264
State and municipal obligations	7,120		40		(101		)	7,059
Corporate obligations	10,944		41		(58		)	10,927
U.S. agency mortgage-backed securities	2,963		7		(43		)	2,927
Non-U.S. agency mortgage-backed securities	1,009		3		(10		)	1,002
Total debt securities - available-for-sale	24,330		92		(243		)	24,179
Equity securities	2,036		52		(47		)	2,041
Debt securities - held-to-maturity:
U.S. government and agency obligations	250		1		—			251
State and municipal obligations	5		—		—			5
Corporate obligations	238		—		—			238
Total debt securities - held-to-maturity	493		1		—			494
Total investments	$	26,859	$	145	$	(290	)	$	26,714

Investments by Contractual Maturity [Table Text Block]

The amortized cost and fair value of debt securities as of March 31, 2017, by contractual maturity, were as follows:

	Available-for-Sale				Held-to-Maturity
(in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	3,291	$	3,293	$	191	$	191
Due after one year through five years	10,041		10,049		111		111
Due after five years through ten years	6,090		6,069		120		120
Due after ten years	2,006		1,993		130		131
U.S. agency mortgage-backed securities	3,345		3,308		—		—
Non-U.S. agency mortgage-backed securities	999		991		—		—
Total debt securities	$	25,772	$	25,703	$	552	$	553

Fair Value of Available-for-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position [Table Text Block]

The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows:

	Less Than 12 Months					12 Months or Greater					Total
(in millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
March 31, 2017
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,077	$	(28	)	$	—	$	—		$	2,077	$	(28	)
State and municipal obligations	3,187		(64		)	—		—			3,187		(64		)
Corporate obligations	4,567		(44		)	81		(2		)	4,648		(46		)
U.S. agency mortgage-backed securities	2,406		(41		)	76		(3		)	2,482		(44		)
Non-U.S. agency mortgage-backed securities	616		(8		)	47		(2		)	663		(10		)
Total debt securities - available-for-sale	$	12,853	$	(185	)	$	204	$	(7	)	$	13,057	$	(192	)
Equity securities	$	75	$	(4	)	$	101	$	(38	)	$	176	$	(42	)
December 31, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,794	$	(31	)	$	—	$	—		$	1,794	$	(31	)
State and municipal obligations	4,376		(101		)	—		—			4,376		(101		)
Corporate obligations	5,128		(56		)	137		(2		)	5,265		(58		)
U.S. agency mortgage-backed securities	2,247		(40		)	79		(3		)	2,326		(43		)
Non-U.S. agency mortgage-backed securities	544		(7		)	97		(3		)	641		(10		)
Total debt securities - available-for-sale	$	14,089	$	(235	)	$	313	$	(8	)	$	14,402	$	(243	)
Equity securities	$	93	$	(5	)	$	91	$	(42	)	$	184	$	(47	)

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Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

(in millions)	Quoted Prices in Active Markets (Level 1)			Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total Fair and Carrying Value
March 31, 2017
Cash and cash equivalents	$	16,101		$	41		$	—		$	16,142
Debt securities - available-for-sale:
U.S. government and agency obligations	2,220			283			—			2,503
State and municipal obligations	—			7,020			—			7,020
Corporate obligations	26			11,744			111			11,881
U.S. agency mortgage-backed securities	—			3,308			—			3,308
Non-U.S. agency mortgage-backed securities	—			991			—			991
Total debt securities - available-for-sale	2,246			23,346			111			25,703
Equity securities	1,666			12			443			2,121
Assets under management	888			1,998			—			2,886
Interest rate swap assets	—			45			—			45
Total assets at fair value	$	20,901		$	25,442		$	554		$	46,897
Percentage of total assets at fair value	45		%	54		%	1		%	100		%
Interest rate swap liabilities	$	—		$	19		$	—		$	19
December 31, 2016
Cash and cash equivalents	$	10,386		$	44		$	—		$	10,430
Debt securities - available-for-sale:
U.S. government and agency obligations	2,017			247			—			2,264
State and municipal obligations	—			7,059			—			7,059
Corporate obligations	21			10,804			102			10,927
U.S. agency mortgage-backed securities	—			2,927			—			2,927
Non-U.S. agency mortgage-backed securities	—			1,002			—			1,002
Total debt securities - available-for-sale	2,038			22,039			102			24,179
Equity securities	1,591			13			437			2,041
Assets under management	1,064			2,041			—			3,105
Interest rate swap assets	—			55			—			55
Total assets at fair value	$	15,079		$	24,192		$	539		$	39,810
Percentage of total assets at fair value	38		%	61		%	1		%	100		%
Interest rate swap liabilities	$	—		$	14		$	—		$	14

Fair Value Measurements, Nonrecurring [Table Text Block]

The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total Fair Value		Total Carrying Value
March 31, 2017
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	257	$	3	$	—	$	260	$	259
State and municipal obligations	—		—		5		5		5
Corporate obligations	18		2		268		288		288
Total debt securities - held-to-maturity	$	275	$	5	$	273	$	553	$	552
Other assets	$	—	$	468	$	—	$	468	$	465
Long-term debt and other financing obligations	$	—	$	32,489	$	—	$	32,489	$	30,399
December 31, 2016
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	251	$	—	$	—	$	251	$	250
State and municipal obligations	—		—		5		5		5
Corporate obligations	20		8		210		238		238
Total debt securities - held-to-maturity	$	271	$	8	$	215	$	494	$	493
Other assets	$	—	$	476	$	—	$	476	$	471
Long-term debt and other financing obligations	$	—	$	31,295	$	—	$	31,295	$	29,337

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Medical Costs Payable (Tables)

3 Months Ended

Mar. 31, 2017

Insurance [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

The following table shows the components of the change in medical costs payable for the three months ended March 31:

(in millions)	2017			2016
Medical costs payable, beginning of period	$	16,391		$	14,330
Acquisitions	76			—
Reported medical costs:
Current year	32,529			28,790
Prior years	(450		)	(360		)
Total reported medical costs	32,079			28,430
Medical payments:
Payments for current year	(18,742		)	(15,797		)
Payments for prior years	(12,154		)	(11,140		)
Total medical payments	(30,896		)	(26,937		)
Medical costs payable, end of period	$	17,650		$	15,823

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Commercial Paper and Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt Instrument [Line Items]

Commercial Paper and Long-Term Debt [Table Text Block]

Commercial paper and senior unsecured long-term debt consisted of the following:

	March 31, 2017						December 31, 2016
(in millions, except percentages)	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value		Fair Value
Commercial paper	$	3,502	$	3,502	$	3,502	$	3,633	$	3,633	$	3,633
Floating rate notes due January 2017	—		—		—		750		750		750
6.000% notes due June 2017	441		443		445		441		446		450
1.450% notes due July 2017	750		750		751		750		750		751
1.400% notes due October 2017	625		625		625		625		624		626
6.000% notes due November 2017	156		158		161		156		159		163
1.400% notes due December 2017	750		750		750		750		751		750
6.000% notes due February 2018	1,100		1,106		1,142		1,100		1,107		1,153
1.900% notes due July 2018	1,500		1,497		1,507		1,500		1,496		1,507
1.700% notes due February 2019	750		748		750		750		748		748
1.625% notes due March 2019	500		501		498		500		501		498
2.300% notes due December 2019	500		497		505		500		498		504
2.700% notes due July 2020	1,500		1,495		1,530		1,500		1,495		1,523
3.875% notes due October 2020	450		449		475		450		450		474
4.700% notes due February 2021	400		407		433		400		409		433
2.125% notes due March 2021	750		746		744		750		745		741
3.375% notes due November 2021	500		496		520		500		497		519
2.875% notes due December 2021	750		746		765		750		748		760
2.875% notes due March 2022	1,100		1,056		1,122		1,100		1,057		1,114
3.350% notes due July 2022	1,000		995		1,035		1,000		995		1,030
0.000% notes due November 2022	15		11		12		15		11		12
2.750% notes due February 2023	625		608		623		625		609		622
2.875% notes due March 2023	750		768		752		750		771		753
3.750% notes due July 2025	2,000		1,986		2,089		2,000		1,986		2,070
3.100% notes due March 2026	1,000		994		992		1,000		994		986
3.450% notes due January 2027	750		745		761		750		745		762
3.375% notes due April 2027	625		618		629		—		—		—
4.625% notes due July 2035	1,000		991		1,090		1,000		991		1,090
5.800% notes due March 2036	850		837		1,048		850		837		1,034
6.500% notes due June 2037	500		491		655		500		491		643
6.625% notes due November 2037	650		640		865		650		640		850
6.875% notes due February 2038	1,100		1,075		1,495		1,100		1,075		1,497
5.700% notes due October 2040	300		296		365		300		296		366
5.950% notes due February 2041	350		345		441		350		345		437
4.625% notes due November 2041	600		588		637		600		588		634
4.375% notes due March 2042	502		483		520		502		483		509
3.950% notes due October 2042	625		606		608		625		606		609
4.250% notes due March 2043	750		734		764		750		734		765
4.750% notes due July 2045	2,000		1,972		2,192		2,000		1,972		2,203
4.200% notes due January 2047	750		738		762		750		737		759
4.250% notes due April 2047	725		717		740		—		—		—
Total commercial paper and long-term debt	$	33,491	$	33,210	$	35,300	$	33,022	$	32,770	$	34,728

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Segment Financial Information (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Financial Information [Table Text Block]

The following tables present reportable segment financial information:

			Optum
(in millions)	UnitedHealthcare		OptumHealth		OptumInsight		OptumRx		Optum Eliminations			Optum		Corporate and Eliminations			Consolidated
Three Months Ended March 31, 2017
Revenues - external customers:
Premiums	$	38,053	$	885	$	—	$	—	$	—		$	885	$	—		$	38,938
Products	—		12		21		6,096		—			6,129		—			6,129
Services	1,922		721		642		149		—			1,512		—			3,434
Total revenues - external customers	39,975		1,618		663		6,245		—			8,526		—			48,501
Total revenues - intersegment	—		3,059		1,179		8,698		(286		)	12,650		(12,650		)	—
Investment and other income	161		56		1		4		—			61		—			222
Total revenues	$	40,136	$	4,733	$	1,843	$	14,947	$	(286	)	$	21,237	$	(12,650	)	$	48,723
Earnings from operations	$	2,134	$	332	$	294	$	653	$	—		$	1,279	$	—		$	3,413
Interest expense	—		—		—		—		—			—		(283		)	(283		)
Earnings before income taxes	$	2,134	$	332	$	294	$	653	$	—		$	1,279	$	(283	)	$	3,130
Three Months Ended March 31, 2016
Revenues - external customers:
Premiums	$	33,963	$	848	$	—	$	—	$	—		$	848	$	—		$	34,811
Products	—		13		20		6,360		—			6,393		—			6,393
Services	1,796		612		606		126		—			1,344		—			3,140
Total revenues - external customers	35,759		1,473		626		6,486		—			8,585		—			44,344
Total revenues - intersegment	—		2,485		1,041		7,785		(254		)	11,057		(11,057		)	—
Investment and other income	141		40		—		2		—			42		—			183
Total revenues	$	35,900	$	3,998	$	1,667	$	14,273	$	(254	)	$	19,684	$	(11,057	)	$	44,527
Earnings from operations	$	1,854	$	300	$	246	$	560	$	—		$	1,106	$	—		$	2,960
Interest expense	—		—		—		—		—			—		(259		)	(259		)
Earnings before income taxes	$	1,854	$	300	$	246	$	560	$	—		$	1,106	$	(259	)	$	2,701

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Basis of Presentation Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Accounts Receivable, Net	$ 9,595	$ 8,152
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method	Modified Retrospective
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical	Impact is not material
Products and Services [Domain]
Accounts Receivable, Net	$ 3,300

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Investments (Narrative) (Details) $ in Millions	Mar. 31, 2017 USD ($) positions
Investment [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | positions	10,000
Total number of security positions	27,000
Equity Method Investments | $	$ 594

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Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	$ 25,772	$ 24,330
Securities, Available for sale Debt Securities, Gross Unrealized Gains	123	92
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(192)	(243)
Available-for-sale Securities, Debt Securities	25,703	24,179
Equity Securities, Amortized Cost Basis	2,120	2,036
Equity Securities, Gross Unrealized Gains	43	52
Equity Securities, Gross Unrealized Losses	(42)	(47)
Equity Securities, Fair Value	2,121	2,041
Held-to-maturity securities, Amortized Cost	552	493
Securities, Held to maturity, Unrecognized Holding Gain	1	1
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss	0	0
Held-to-maturity Securities, Fair Value	553	494
Total investments, Amortized Cost	28,444	26,859
Total investments, Gross Unrealized Gains	167	145
Total investments, Gross Unrealized Losses	(234)	(290)
Investments, Fair Value Disclosure	28,377	26,714
Debt Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Securities, Debt Securities	25,703	24,179
U.S. Government and Agency Obligations [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	2,529	2,294
Securities, Available for sale Debt Securities, Gross Unrealized Gains	2	1
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(28)	(31)
Available-for-sale Securities, Debt Securities	2,503	2,264
Held-to-maturity securities, Amortized Cost	259	250
Securities, Held to maturity, Unrecognized Holding Gain	1	1
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss	0	0
Held-to-maturity Securities, Fair Value	260	251
State and Municipal Obligations [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	7,020	7,120
Securities, Available for sale Debt Securities, Gross Unrealized Gains	64	40
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(64)	(101)
Available-for-sale Securities, Debt Securities	7,020	7,059
Held-to-maturity securities, Amortized Cost	5	5
Securities, Held to maturity, Unrecognized Holding Gain	0	0
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss	0	0
Held-to-maturity Securities, Fair Value	5	5
Corporate Obligations [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	11,879	10,944
Securities, Available for sale Debt Securities, Gross Unrealized Gains	48	41
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(46)	(58)
Available-for-sale Securities, Debt Securities	11,881	10,927
Held-to-maturity securities, Amortized Cost	288	238
Securities, Held to maturity, Unrecognized Holding Gain	0	0
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss	0	0
Held-to-maturity Securities, Fair Value	288	238
U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	3,345	2,963
Securities, Available for sale Debt Securities, Gross Unrealized Gains	7	7
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(44)	(43)
Available-for-sale Securities, Debt Securities	3,308	2,927
Non-U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	999	1,009
Securities, Available for sale Debt Securities, Gross Unrealized Gains	2	3
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(10)	(10)
Available-for-sale Securities, Debt Securities	$ 991	$ 1,002

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Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Due in one year or less, Amortized Cost	$ 3,291
Due after one year through five years, Amortized Cost	10,041
Due after five years through ten years, Amortized Cost	6,090
Due after ten years, Amortized Cost	2,006
Total debt securities - available-for-sale, Amortized Cost	25,772	$ 24,330
Due in one year or less, Fair Value	3,293
Due after one year through five years, Fair Value	10,049
Due after five years through ten years, Fair Value	6,069
Due after ten years, Fair Value	1,993
Available-for-sale Securities, Debt Securities	25,703	24,179
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount	191
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value	191
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount	111
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value	111
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount	120
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value	120
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount	130
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value	131
Held-to-maturity securities, Amortized Cost	552	493
Held-to-maturity Securities, Fair Value	553	494
U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Mortgage-backed securities, Amortized Cost	3,345
Total debt securities - available-for-sale, Amortized Cost	3,345	2,963
Available-for-sale Securities, Debt Securities	3,308	2,927
Mortgage-backed securities, Fair Value	3,308
Non-U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Mortgage-backed securities, Amortized Cost	999
Total debt securities - available-for-sale, Amortized Cost	999	1,009
Available-for-sale Securities, Debt Securities	991	$ 1,002
Mortgage-backed securities, Fair Value	$ 991

XML

Investments (Fair Value of Available-For-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time That Individual Securities Have Been in a Continuous Unrealized Loss Position) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	$ 12,853	$ 14,089
Less Than 12 Months, Gross Unrealized Losses	(185)	(235)
Greater Than 12 Months, Fair Value	204	313
Greater Than 12 Months, Gross Unrealized Losses	(7)	(8)
Total, Fair Value	13,057	14,402
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(192)	(243)
U.S. Government and Agency Obligations [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	2,077	1,794
Less Than 12 Months, Gross Unrealized Losses	(28)	(31)
Total, Fair Value	2,077	1,794
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(28)	(31)
State and Municipal Obligations [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	3,187	4,376
Less Than 12 Months, Gross Unrealized Losses	(64)	(101)
Total, Fair Value	3,187	4,376
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(64)	(101)
Corporate Obligations [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	4,567	5,128
Less Than 12 Months, Gross Unrealized Losses	(44)	(56)
Greater Than 12 Months, Fair Value	81	137
Greater Than 12 Months, Gross Unrealized Losses	(2)	(2)
Total, Fair Value	4,648	5,265
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(46)	(58)
U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	2,406	2,247
Less Than 12 Months, Gross Unrealized Losses	(41)	(40)
Greater Than 12 Months, Fair Value	76	79
Greater Than 12 Months, Gross Unrealized Losses	(3)	(3)
Total, Fair Value	2,482	2,326
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(44)	(43)
Non-U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	616	544
Less Than 12 Months, Gross Unrealized Losses	(8)	(7)
Greater Than 12 Months, Fair Value	47	97
Greater Than 12 Months, Gross Unrealized Losses	(2)	(3)
Total, Fair Value	663	641
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(10)	(10)
Equity Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	75	93
Less Than 12 Months, Gross Unrealized Losses	(4)	(5)
Greater Than 12 Months, Fair Value	101	91
Greater Than 12 Months, Gross Unrealized Losses	(38)	(42)
Total, Fair Value	176	184
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ (42)	$ (47)

XML

Fair Value (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value [Line Items]
Transfers from level 1 to level 2-Assets	$ 0	$ 0
Transfers from level 1 to level 2-Liabilities	0	0
Transfer from level 2 to level 1-Assets	0	0
Transfer from level 2 to level 1-Liabilities	0	0
Transfers Into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Measurements, Nonrecurring [Member]
Fair Value [Line Items]
Significant fair value adjustments for assets and liabilities measured on a nonrecurring basis	$ 0	$ 0

XML

Fair Value (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 16,142	$ 10,430
Available-for-sale Securities, Debt Securities	25,703	24,179
Equity Securities, Fair Value	2,121	2,041
AARP Assets Under Management	2,886	3,105
Interest rate swap assets	45	55
Total assets at fair value	$ 46,897	$ 39,810
Percentage of total assets at fair value	100.00%	100.00%
Interest rate swap liabilities	$ 19	$ 14
Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	25,703	24,179
U.S. Government and Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	2,503	2,264
State and Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	7,020	7,059
Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	11,881	10,927
U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	3,308	2,927
Non-U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	991	1,002
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	16,101	10,386
Equity Securities, Fair Value	1,666	1,591
AARP Assets Under Management	888	1,064
Interest rate swap assets	0	0
Total assets at fair value	$ 20,901	$ 15,079
Percentage of total assets at fair value	45.00%	38.00%
Interest rate swap liabilities	$ 0	$ 0
Quoted Prices in Active Markets (Level 1) [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	2,246	2,038
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Government and Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	2,220	2,017
Quoted Prices in Active Markets (Level 1) [Member] | State and Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	26	21
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	0	0
Quoted Prices in Active Markets (Level 1) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	0	0
Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	41	44
Equity Securities, Fair Value	12	13
AARP Assets Under Management	1,998	2,041
Interest rate swap assets	45	55
Total assets at fair value	$ 25,442	$ 24,192
Percentage of total assets at fair value	54.00%	61.00%
Interest rate swap liabilities	$ 19	$ 14
Other Observable Inputs (Level 2) [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	23,346	22,039
Other Observable Inputs (Level 2) [Member] | U.S. Government and Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	283	247
Other Observable Inputs (Level 2) [Member] | State and Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	7,020	7,059
Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	11,744	10,804
Other Observable Inputs (Level 2) [Member] | U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	3,308	2,927
Other Observable Inputs (Level 2) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	991	1,002
Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity Securities, Fair Value	443	437
AARP Assets Under Management	0	0
Interest rate swap assets	0	0
Total assets at fair value	$ 554	$ 539
Percentage of total assets at fair value	1.00%	1.00%
Interest rate swap liabilities	$ 0	$ 0
Unobservable Inputs (Level 3) [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	111	102
Unobservable Inputs (Level 3) [Member] | U.S. Government and Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	0	0
Unobservable Inputs (Level 3) [Member] | State and Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	0	0
Unobservable Inputs (Level 3) [Member] | Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	111	102
Unobservable Inputs (Level 3) [Member] | U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	0	0
Unobservable Inputs (Level 3) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	$ 0	$ 0

XML

Fair Value (Financial Assets and Liabilities, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	$ 553	$ 494
Held-to-maturity Securities	552	493
Debt and other financing obligations	35,300	34,728
Debt and other financing obligations, carrying value	33,210	32,770
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	553	494
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	275	271
Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	5	8
Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	273	215
U.S. Government and Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities	259	250
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	260	251
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	257	251
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	3	0
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	0	0
State and Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities	5	5
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	5	5
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	0	0
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	0	0
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	5	5
Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities	288	238
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	288	238
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	18	20
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	2	8
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Fair Value	268	210
Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets	465	471
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	468	476
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	0	0
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	468	476
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	0	0
Long-term debt and other financing obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and other financing obligations, carrying value	30,399	29,337
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and other financing obligations	32,489	31,295
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and other financing obligations	0	0
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and other financing obligations	32,489	31,295
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and other financing obligations	$ 0	$ 0

XML

Other Current Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current receivables	$ 6,609	$ 7,499
Pharmaceutical manufacturer rebates receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current receivables	$ 4,000	$ 3,300

XML

Medical Costs Payable (Details) - USD ($) $ in Billions	Mar. 31, 2017	Dec. 31, 2016
Liability for Claims and Claims Adjustment Expense [Line Items]
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount	$ 12.5	$ 11.6

XML

Medical Costs Payable Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Medical costs payable, beginning of period	$ 16,391	$ 14,330
Acquisitions	76	0
Reported medical costs:
Current year	32,529	28,790
Prior years	(450)	(360)
Total reported medical costs	32,079	28,430
Medical payments:
Payments for current year	(18,742)	(15,797)
Payments for prior years	(12,154)	(11,140)
Total medical payments	(30,896)	(26,937)
Medical costs payable, end of period	$ 17,650	$ 15,823

XML

Commercial Paper and Long-Term Debt (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($) banks	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Debt assumed through acquisition	$ 926
Repayments of Assumed Debt	$ 642
Commercial Paper [Member]
Debt Instrument [Line Items]
Short-term Debt, Weighted Average Interest Rate	1.10%
Five Year $3.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	$ 0
Line of Credit, Credit Facility, Maximum Borrowing Capacity	$ 3,000
Line of Credit Facility, Expiration Period	5 years
Number of banks that comprise revolving bank credit facility (banks)	23
Maximum percentage of indebtedness to total net capital bank covenant	55.00%
Five Year $3.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	1.80%
Five Year $3.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	2.30%
Three Year 2.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	$ 0
Line of Credit, Credit Facility, Maximum Borrowing Capacity	$ 2,000
Line of Credit Facility, Expiration Period	3 years
Number of banks that comprise revolving bank credit facility (banks)	23
Maximum percentage of indebtedness to total net capital bank covenant	55.00%
Three Year 2.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	1.80%
Three Year 2.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	2.30%
364 Day $1.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit, Current	$ 0
Line of Credit, Credit Facility, Maximum Borrowing Capacity	$ 1,000
Line of Credit Facility, Expiration Period	364 days
Number of banks that comprise revolving bank credit facility (banks) | banks	23
Maximum percentage of indebtedness to total net capital bank covenant	55.00%
364 Day $1.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	1.80%
364 Day $1.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	2.30%
Subsidiaries [Member]
Debt Instrument [Line Items]
Other Long-term Debt	$ 407	$ 200
Other Long-term Debt, Current	$ 129	$ 80

XML

Commercial Paper and Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Par Value	$ 33,491	$ 33,022
Carrying Value	33,210	32,770
Fair Value	35,300	34,728
Commercial Paper [Member]
Debt Instrument [Line Items]
Par Value	3,502	3,633
Carrying Value	3,502	3,633
Fair Value	3,502	3,633
Floating rate notes due January 2017 [Member]
Debt Instrument [Line Items]
Par Value	0	750
Carrying Value	0	750
Fair Value	$ 0	750
6.000% notes due June 2017 [Member]
Debt Instrument [Line Items]
Interest Rate	6.00%
Par Value	$ 441	441
Carrying Value	443	446
Fair Value	$ 445	450
1.450% notes due July 2017 [Member]
Debt Instrument [Line Items]
Interest Rate	1.45%
Par Value	$ 750	750
Carrying Value	750	750
Fair Value	$ 751	751
1.400% notes due October 2017 [Member]
Debt Instrument [Line Items]
Interest Rate	1.40%
Par Value	$ 625	625
Carrying Value	625	624
Fair Value	$ 625	626
6.000% notes due November 2017 [Member]
Debt Instrument [Line Items]
Interest Rate	6.00%
Par Value	$ 156	156
Carrying Value	158	159
Fair Value	$ 161	163
1.400% notes due December 2017 [Member]
Debt Instrument [Line Items]
Interest Rate	1.40%
Par Value	$ 750	750
Carrying Value	750	751
Fair Value	$ 750	750
6.000% notes due February 2018 [Member]
Debt Instrument [Line Items]
Interest Rate	6.00%
Par Value	$ 1,100	1,100
Carrying Value	1,106	1,107
Fair Value	$ 1,142	1,153
1.900% notes due July 2018 [Member]
Debt Instrument [Line Items]
Interest Rate	1.90%
Par Value	$ 1,500	1,500
Carrying Value	1,497	1,496
Fair Value	$ 1,507	1,507
1.700% Notes due February 2019 [Member]
Debt Instrument [Line Items]
Interest Rate	1.70%
Par Value	$ 750	750
Carrying Value	748	748
Fair Value	$ 750	748
1.625% notes due March 2019 [Member]
Debt Instrument [Line Items]
Interest Rate	1.625%
Par Value	$ 500	500
Carrying Value	501	501
Fair Value	$ 498	498
2.300% notes due December 2019 [Member]
Debt Instrument [Line Items]
Interest Rate	2.30%
Par Value	$ 500	500
Carrying Value	497	498
Fair Value	$ 505	504
2.700% notes due July 2020 [Member]
Debt Instrument [Line Items]
Interest Rate	2.70%
Par Value	$ 1,500	1,500
Carrying Value	1,495	1,495
Fair Value	$ 1,530	1,523
3.875% notes due October 2020 [Member]
Debt Instrument [Line Items]
Interest Rate	3.875%
Par Value	$ 450	450
Carrying Value	449	450
Fair Value	$ 475	474
4.700% notes due February 2021 [Member]
Debt Instrument [Line Items]
Interest Rate	4.70%
Par Value	$ 400	400
Carrying Value	407	409
Fair Value	$ 433	433
2.125% notes due March 2021 [Member]
Debt Instrument [Line Items]
Interest Rate	2.125%
Par Value	$ 750	750
Carrying Value	746	745
Fair Value	$ 744	741
3.375% notes due November 2021 [Member]
Debt Instrument [Line Items]
Interest Rate	3.375%
Par Value	$ 500	500
Carrying Value	496	497
Fair Value	$ 520	519
2.875% notes due December 2021 [Member]
Debt Instrument [Line Items]
Interest Rate	2.875%
Par Value	$ 750	750
Carrying Value	746	748
Fair Value	$ 765	760
2.875% notes due March 2022 [Member]
Debt Instrument [Line Items]
Interest Rate	2.875%
Par Value	$ 1,100	1,100
Carrying Value	1,056	1,057
Fair Value	$ 1,122	1,114
3.350% notes due July 2022 [Member]
Debt Instrument [Line Items]
Interest Rate	3.35%
Par Value	$ 1,000	1,000
Carrying Value	995	995
Fair Value	$ 1,035	1,030
0.000% notes due November 2022 [Member]
Debt Instrument [Line Items]
Interest Rate	0.00%
Par Value	$ 15	15
Carrying Value	11	11
Fair Value	$ 12	12
2.750% notes due February 2023 [Member]
Debt Instrument [Line Items]
Interest Rate	2.75%
Par Value	$ 625	625
Carrying Value	608	609
Fair Value	$ 623	622
2.875% notes due March 2023 [Member]
Debt Instrument [Line Items]
Interest Rate	2.875%
Par Value	$ 750	750
Carrying Value	768	771
Fair Value	$ 752	753
3.750% notes due July 2025 [Member]
Debt Instrument [Line Items]
Interest Rate	3.75%
Par Value	$ 2,000	2,000
Carrying Value	1,986	1,986
Fair Value	$ 2,089	2,070
3.100% notes due March 2026 [Member]
Debt Instrument [Line Items]
Interest Rate	3.10%
Par Value	$ 1,000	1,000
Carrying Value	994	994
Fair Value	$ 992	986
3.450% notes due January 2027 [Member]
Debt Instrument [Line Items]
Interest Rate	3.45%
Par Value	$ 750	750
Carrying Value	745	745
Fair Value	$ 761	762
3.375% notes due April 2027 [Member]
Debt Instrument [Line Items]
Interest Rate	3.75%
Par Value	$ 625	0
Carrying Value	618	0
Fair Value	$ 629	0
4.625% notes due July 2035 [Member]
Debt Instrument [Line Items]
Interest Rate	4.625%
Par Value	$ 1,000	1,000
Carrying Value	991	991
Fair Value	$ 1,090	1,090
5.800% notes due March 2036 [Member]
Debt Instrument [Line Items]
Interest Rate	5.80%
Par Value	$ 850	850
Carrying Value	837	837
Fair Value	$ 1,048	1,034
6.500% notes due June 2037 [Member]
Debt Instrument [Line Items]
Interest Rate	6.50%
Par Value	$ 500	500
Carrying Value	491	491
Fair Value	$ 655	643
6.625% notes due November 2037 [Member]
Debt Instrument [Line Items]
Interest Rate	6.625%
Par Value	$ 650	650
Carrying Value	640	640
Fair Value	$ 865	850
6.875% notes due February 2038 [Member]
Debt Instrument [Line Items]
Interest Rate	6.875%
Par Value	$ 1,100	1,100
Carrying Value	1,075	1,075
Fair Value	$ 1,495	1,497
5.700% notes due October 2040 [Member]
Debt Instrument [Line Items]
Interest Rate	5.70%
Par Value	$ 300	300
Carrying Value	296	296
Fair Value	$ 365	366
5.950% notes due February 2041 [Member]
Debt Instrument [Line Items]
Interest Rate	5.95%
Par Value	$ 350	350
Carrying Value	345	345
Fair Value	$ 441	437
4.625% notes due November 2041 [Member]
Debt Instrument [Line Items]
Interest Rate	4.625%
Par Value	$ 600	600
Carrying Value	588	588
Fair Value	$ 637	634
4.375% notes due March 2042 [Member]
Debt Instrument [Line Items]
Interest Rate	4.375%
Par Value	$ 502	502
Carrying Value	483	483
Fair Value	$ 520	509
3.950% notes due October 2042 [Member]
Debt Instrument [Line Items]
Interest Rate	3.95%
Par Value	$ 625	625
Carrying Value	606	606
Fair Value	$ 608	609
4.250% notes due March 2043 [Member]
Debt Instrument [Line Items]
Interest Rate	4.25%
Par Value	$ 750	750
Carrying Value	734	734
Fair Value	$ 764	765
4.750% notes due July 2045 [Member]
Debt Instrument [Line Items]
Interest Rate	4.75%
Par Value	$ 2,000	2,000
Carrying Value	1,972	1,972
Fair Value	$ 2,192	2,203
4.200% notes due January 2047 [Member]
Debt Instrument [Line Items]
Interest Rate	4.20%
Par Value	$ 750	750
Carrying Value	738	737
Fair Value	$ 762	759
4.250% notes due April 2047 [Member]
Debt Instrument [Line Items]
Interest Rate	4.25%
Par Value	$ 725	0
Carrying Value	717	0
Fair Value	$ 740	$ 0

XML

Commitments and Contingencies (Details) - California Claims Processing Matter [Member] - USD ($) $ in Millions			1 Months Ended
	Jun. 09, 2014	Jan. 25, 2008	Aug. 31, 2013	Mar. 31, 2017
Loss Contingency [Line Items]
Estimated Largest Penalty Ever Issued By Cdi				$ 8.0
CDI aggregate penalty		$ 325.0
California Administrative Law Judge [Member] | Judicial Ruling [Member]
Loss Contingency [Line Items]
Loss Contingency, Damages Awarded, Value			$ 11.5
California Insurance Commissioner [Member] | Judicial Ruling [Member]
Loss Contingency [Line Items]
Loss Contingency, Damages Awarded, Value	$ 174.0

XML

Segment Financial Information (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Statement [Line Items]
Number of Reportable Segments	4
Assets	$ 137,157	$ 122,810
Optumhealth [Member]
Statement [Line Items]
Assets	24,700	$ 18,700
Goodwill, Period Increase (Decrease)	$ 4,600

XML

Segment Financial Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement [Line Items]
Premiums, revenues - external customers	$ 38,938	$ 34,811
Products, revenues - external customers	6,129	6,393
Services, revenues - external customers	3,434	3,140
Investment and other income	222	183
Total revenues	48,723	44,527
Earnings from operations	3,413	2,960
Interest expense	(283)	(259)
Earnings before income taxes	3,130	2,701
Optum [Member]
Statement [Line Items]
Investment and other income	61	42
Total revenues	21,237	19,684
Earnings from operations	1,279	1,106
Interest expense	0	0
Earnings before income taxes	1,279	1,106
External Customers [Member]
Statement [Line Items]
Premiums, revenues - external customers	38,938	34,811
Products, revenues - external customers	6,129	6,393
Services, revenues - external customers	3,434	3,140
Total revenues	48,501	44,344
External Customers [Member] | Optum [Member]
Statement [Line Items]
Premiums, revenues - external customers	885	848
Products, revenues - external customers	6,129	6,393
Services, revenues - external customers	1,512	1,344
Total revenues	8,526	8,585
Intersegment [Member]
Statement [Line Items]
Total revenues	0	0
Intersegment [Member] | Optum [Member]
Statement [Line Items]
Total revenues	12,650	11,057
Operating Segments [Member] | UnitedHealthcare [Member]
Statement [Line Items]
Investment and other income	161	141
Total revenues	40,136	35,900
Earnings from operations	2,134	1,854
Interest expense	0	0
Earnings before income taxes	2,134	1,854
Operating Segments [Member] | Optumhealth [Member]
Statement [Line Items]
Investment and other income	56	40
Total revenues	4,733	3,998
Earnings from operations	332	300
Interest expense	0	0
Earnings before income taxes	332	300
Operating Segments [Member] | Optuminsight [Member]
Statement [Line Items]
Investment and other income	1	0
Total revenues	1,843	1,667
Earnings from operations	294	246
Interest expense	0	0
Earnings before income taxes	294	246
Operating Segments [Member] | Optumrx [Member]
Statement [Line Items]
Investment and other income	4	2
Total revenues	14,947	14,273
Earnings from operations	653	560
Interest expense	0	0
Earnings before income taxes	653	560
Operating Segments [Member] | External Customers [Member] | UnitedHealthcare [Member]
Statement [Line Items]
Premiums, revenues - external customers	38,053	33,963
Products, revenues - external customers	0	0
Services, revenues - external customers	1,922	1,796
Total revenues	39,975	35,759
Operating Segments [Member] | External Customers [Member] | Optumhealth [Member]
Statement [Line Items]
Premiums, revenues - external customers	885	848
Products, revenues - external customers	12	13
Services, revenues - external customers	721	612
Total revenues	1,618	1,473
Operating Segments [Member] | External Customers [Member] | Optuminsight [Member]
Statement [Line Items]
Premiums, revenues - external customers	0	0
Products, revenues - external customers	21	20
Services, revenues - external customers	642	606
Total revenues	663	626
Operating Segments [Member] | External Customers [Member] | Optumrx [Member]
Statement [Line Items]
Premiums, revenues - external customers	0	0
Products, revenues - external customers	6,096	6,360
Services, revenues - external customers	149	126
Total revenues	6,245	6,486
Operating Segments [Member] | Intersegment [Member] | UnitedHealthcare [Member]
Statement [Line Items]
Total revenues	0	0
Operating Segments [Member] | Intersegment [Member] | Optumhealth [Member]
Statement [Line Items]
Total revenues	3,059	2,485
Operating Segments [Member] | Intersegment [Member] | Optuminsight [Member]
Statement [Line Items]
Total revenues	1,179	1,041
Operating Segments [Member] | Intersegment [Member] | Optumrx [Member]
Statement [Line Items]
Total revenues	8,698	7,785
Optum Eliminations [Member]
Statement [Line Items]
Investment and other income	0	0
Total revenues	(286)	(254)
Earnings from operations	0	0
Interest expense	0	0
Earnings before income taxes	0	0
Optum Eliminations [Member] | External Customers [Member]
Statement [Line Items]
Premiums, revenues - external customers	0	0
Products, revenues - external customers	0	0
Services, revenues - external customers	0	0
Total revenues	0	0
Optum Eliminations [Member] | Intersegment [Member]
Statement [Line Items]
Total revenues	(286)	(254)
Corporate and Eliminations [Member]
Statement [Line Items]
Investment and other income	0	0
Total revenues	(12,650)	(11,057)
Earnings from operations	0	0
Interest expense	(283)	(259)
Earnings before income taxes	(283)	(259)
Corporate and Eliminations [Member] | External Customers [Member]
Statement [Line Items]
Premiums, revenues - external customers	0	0
Products, revenues - external customers	0	0
Services, revenues - external customers	0	0
Total revenues	0	0
Corporate and Eliminations [Member] | Intersegment [Member]
Statement [Line Items]
Total revenues	$ (12,650)	$ (11,057)