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, 2016



[ ]	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, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:



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

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 29, 2016, there were 950,804,129 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, 2016 and December 31, 2015		1
	Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2016 and 2015		2
	Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2016 and 2015		3
	Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2016 and 2015		4
	Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2016 and 2015		5
	Notes to the Condensed Consolidated Financial Statements		6
	1.	Basis of Presentation	6
	2.	Investments	8
	3.	Fair Value	9
	4.	Medicare Part D Pharmacy Benefits	11
	5.	Other Current Receivables	12
	6.	Medical Costs Reserve Development	12
	7.	Commercial Paper and Long-Term Debt	13
	8.	Commitments and Contingencies	14
	9.	Segment Financial Information	15
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		16
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		24
Item 4.	Controls and Procedures		25
Part II. Other Information
Item 1.	Legal Proceedings		25
Item 1A.	Risk Factors		25
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		26
Item 6.	Exhibits		27
Signatures			28

PART I

ITEM 1. FINANCIAL STATEMENTS

UnitedHealth Group

Condensed Consolidated Balance Sheets

(Unaudited)



(in millions, except per share data)	March 31, 2016			December 31, 2015
Assets
Current assets:
Cash and cash equivalents	$	10,596		$	10,923
Short-term investments	2,418			1,988
Accounts receivable, net	7,777			6,523
Other current receivables, net	6,865			6,801
Assets under management	2,878			2,998
Prepaid expenses and other current assets	3,211			2,406
Total current assets	33,745			31,639
Long-term investments	20,895			18,792
Property, equipment and capitalized software, net	4,976			4,861
Goodwill	46,294			44,453
Other intangible assets, net	8,861			8,391
Other assets	3,084			3,118
Total assets	$	117,855		$	111,254
Liabilities, redeemable noncontrolling interests and equity
Current liabilities:
Medical costs payable	$	15,823		$	14,330
Accounts payable and accrued liabilities	13,740			11,994
Other policy liabilities	8,317			7,798
Commercial paper and current maturities of long-term debt	6,504			6,634
Unearned revenues	1,901			2,142
Total current liabilities	46,285			42,898
Long-term debt, less current maturities	27,218			25,331
Future policy benefits	2,508			2,496
Deferred income taxes	3,066			3,587
Other liabilities	1,887			1,481
Total liabilities	80,964			75,793
Commitments and contingencies (Note 8)
Redeemable noncontrolling interests	1,824			1,736
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; 954 and 953 issued and outstanding	10			10
Additional paid-in capital	—			29
Retained earnings	37,963			37,125
Accumulated other comprehensive loss	(2,804		)	(3,334		)
Nonredeemable noncontrolling interest	(102		)	(105		)
Total equity	35,067			33,725
Total liabilities, redeemable noncontrolling interests and equity	$	117,855		$	111,254

See Notes to the Condensed Consolidated Financial Statements

Table of Contents

UnitedHealth Group

Condensed Consolidated Statements of Operations

(Unaudited)



	Three Months Ended March 31,
(in millions, except per share data)	2016			2015
Revenues:
Premiums	$	34,811		$	31,674
Products	6,393			1,230
Services	3,140			2,706
Investment and other income	183			146
Total revenues	44,527			35,756
Operating costs:
Medical costs	28,430			25,790
Operating costs	6,758			5,834
Cost of products sold	5,877			1,114
Depreciation and amortization	502			378
Total operating costs	41,567			33,116
Earnings from operations	2,960			2,640
Interest expense	(259		)	(150		)
Earnings before income taxes	2,701			2,490
Provision for income taxes	(1,074		)	(1,077		)
Net earnings	1,627			1,413
Earnings attributable to noncontrolling interests	(16		)	—
Net earnings attributable to UnitedHealth Group common shareholders	$	1,611		$	1,413
Earnings per share attributable to UnitedHealth Group common shareholders:
Basic	$	1.69		$	1.48
Diluted	$	1.67		$	1.46
Basic weighted-average number of common shares outstanding	953			954
Dilutive effect of common share equivalents	14			15
Diluted weighted-average number of common shares outstanding	967			969
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents	7			9
Cash dividends declared per common share	$	0.500		$	0.375

See Notes to the Condensed Consolidated Financial Statements

Table of Contents

UnitedHealth Group

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)



	Three Months Ended March 31,
(in millions)	2016			2015
Net earnings	$	1,627		$	1,413
Other comprehensive income (loss):
Gross unrealized gains on investment securities during the period	260			105
Income tax effect	(96		)	(37		)
Total unrealized gains, net of tax	164			68
Gross reclassification adjustment for net realized gains included in net earnings	(35		)	(3		)
Income tax effect	13			1
Total reclassification adjustment, net of tax	(22		)	(2		)
Total foreign currency translation gains (losses)	388			(959		)
Other comprehensive income (loss)	530			(893		)
Comprehensive income	2,157			520
Comprehensive income attributable to noncontrolling interests	(16		)	—
Comprehensive income attributable to UnitedHealth Group common shareholders	$	2,141		$	520

See Notes to the Condensed Consolidated Financial Statements

Table of Contents

UnitedHealth Group

Condensed Consolidated Statements of Changes in Equity

(Unaudited)



	Common Stock				Additional Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)					Nonredeemable Noncontrolling Interest			Total Equity
(in millions)	Shares		Amount		Additional Paid-In Capital			Retained Earnings			Net Unrealized Gains on Investments		Foreign Currency Translation (Losses) Gains			Nonredeemable Noncontrolling Interest			Total Equity
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

Balance at January 1, 2015	954		$	10	$	—		$	33,836		$	223	$	(1,615	)	$	—		$	32,454
Net earnings								1,413											1,413
Other comprehensive income (loss)											66		(959		)				(893		)
Issuances of common stock, and related tax effects	6		—		—														—
Share-based compensation, and related tax benefits					206														206
Common share repurchases	(8	)	—		(157		)	(739		)									(896		)
Cash dividends paid on common shares								(357		)									(357		)
Redeemable noncontrolling interests fair value and other adjustments					(49		)												(49		)
Balance at March 31, 2015	952		$	10	$	—		$	34,153		$	289	$	(2,574	)	$	—		$	31,878

See Notes to the Condensed Consolidated Financial Statements

Table of Contents

UnitedHealth Group

Condensed Consolidated Statements of Cash Flows

(Unaudited)



	Three Months Ended March 31,
(in millions)	2016			2015
Operating activities
Net earnings	$	1,627		$	1,413
Noncash items:
Depreciation and amortization	502			378
Deferred income taxes	145			122
Share-based compensation	157			125
Other, net	6			(44		)
Net change in other operating items, net of effects from acquisitions and changes in AARP balances:
Accounts receivable	(1,110		)	(758		)
Other assets	(2,162		)	(2,162		)
Medical costs payable	1,368			1,610
Accounts payable and other liabilities	1,770			1,648
Other policy liabilities	266			154
Unearned revenues	(251		)	(217		)
Cash flows from operating activities	2,318			2,269
Investing activities
Purchases of investments	(5,173		)	(1,891		)
Sales of investments	2,122			503
Maturities of investments	978			843
Cash paid for acquisitions, net of cash assumed	(1,697		)	(575		)
Purchases of property, equipment and capitalized software	(425		)	(373		)
Other, net	14			(32		)
Cash flows used for investing activities	(4,181		)	(1,525		)
Financing activities
Common share repurchases	(500		)	(896		)
Cash dividends paid	(477		)	(357		)
Proceeds from common stock issuances	198			192
Proceeds from issuance of long-term debt	2,485			—
Repayments of long-term debt	(601		)	(416		)
(Repayments of) proceeds from commercial paper, net	(285		)	1,194
Customer funds administered	1,067			1,049
Other, net	(385		)	(270		)
Cash flows from financing activities	1,502			496
Effect of exchange rate changes on cash and cash equivalents	34			(85		)
(Decrease) increase in cash and cash equivalents	(327		)	1,155
Cash and cash equivalents, beginning of period	10,923			7,495
Cash and cash equivalents, end of period	$	10,596		$	8,650

See Notes to the Condensed Consolidated Financial Statements

Table of Contents

UnitedHealth Group

Notes to the Condensed Consolidated Financial Statements

(Unaudited)

1. Basis of Presentation

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 making 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. The Company offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides pharmacy care services and information and technology-enabled health services.

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” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 as filed with the SEC (2015 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 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.

The accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K remain unchanged.

Reclassification

During the fourth quarter of 2015, the Company aligned its accounting policy to conform the presentation of certain pharmacy fulfillment costs related to an acquired OptumRx business. These costs are now included in medical costs and cost of products sold, whereas they were previously included in operating costs. Prior periods have been reclassified to conform to the current period presentation. The reclassification increased medical expenses by $101 million, decreased operating costs by $115 million and increased cost of products sold by $14 million for the three months ended March 31, 2015. The reclassification had no impact on total operating costs, earnings from operations, net earnings, earnings per share or total equity.

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. The Company is currently evaluating the effect of the new leasing guidance.

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

Table of Contents

comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. The Company is currently evaluating the effect of the new financial instruments guidance.

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09) as modified by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” and ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing.” ASU 2014-09 will supersede 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. In addition, new and enhanced disclosures will be required. Companies may adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption at the original effective date, interim and annual periods beginning after December 15, 2016, will be permitted. The Company is currently evaluating the effect of the new revenue recognition guidance.

Recently Adopted Accounting Standards

In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09). ASU 2016-09 modifies several aspects of the accounting for share-based payment awards, including income tax consequences, and classification on the statement of cash flows. The Company early adopted ASU 2016-09 in the first quarter of 2016. The provisions of ASU 2016-09 related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements and forfeitures were adopted using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of January 1, 2016. The provisions of ASU 2016-09 related to the recognition of excess tax benefits in the income statement and classification in the statement of cash flows were adopted prospectively and the prior periods were not retrospectively adjusted. The adoption of ASU 2016-09 did not materially impact the Company’s consolidated financial position, results of operations, equity or cash flows.

In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (ASU 2015-17). ASU 2015-17 requires entities to present deferred tax assets and deferred tax liabilities as noncurrent on the balance sheet. Prior to the issuance of ASU 2015-17, deferred taxes were required to be presented as a net current asset or liability and a net noncurrent asset or liability. The Company adopted ASU 2015-17 on a prospective basis in the first quarter of 2016 and the prior period was not retrospectively adjusted. The adoption of ASU 2015-17 did not impact the Company’s consolidated financial position, results of operations, equity or cash flows.

In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 requires debt issuance costs to be presented as a reduction of the carrying amount of the related debt liability. Prior to the issuance of ASU 2015-03, debt issuance costs were required to be presented as an asset in the balance sheet. The Company adopted ASU 2015-03 on a retrospective basis, as required, in the first quarter of 2016. The Company reclassified $129 million in debt issuance costs that were recorded in other assets on the Consolidated Balance Sheet as of December 31, 2015 to long-term debt, less current maturities.

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.

Table of Contents

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, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,318	$	13	$	(1	)	$	2,330
State and municipal obligations	6,233		180		(2		)	6,411
Corporate obligations	8,751		110		(30		)	8,831
U.S. agency mortgage-backed securities	2,488		28		(3		)	2,513
Non-U.S. agency mortgage-backed securities	958		17		(4		)	971
Total debt securities - available-for-sale	20,748		348		(40		)	21,056
Equity securities - available-for-sale	1,739		63		(53		)	1,749
Debt securities - held-to-maturity:
U.S. government and agency obligations	175		3		—			178
State and municipal obligations	7		—		—			7
Corporate obligations	326		—		—			326
Total debt securities - held-to-maturity	508		3		—			511
Total investments	$	22,995	$	414	$	(93	)	$	23,316
December 31, 2015
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,982	$	1	$	(6	)	$	1,977
State and municipal obligations	6,022		149		(3		)	6,168
Corporate obligations	7,446		41		(81		)	7,406
U.S. agency mortgage-backed securities	2,127		13		(16		)	2,124
Non-U.S. agency mortgage-backed securities	962		5		(11		)	956
Total debt securities - available-for-sale	18,539		209		(117		)	18,631
Equity securities - available-for-sale	1,638		58		(57		)	1,639
Debt securities - held-to-maturity:
U.S. government and agency obligations	163		1		—			164
State and municipal obligations	8		—		—			8
Corporate obligations	339		—		—			339
Total debt securities - held-to-maturity	510		1		—			511
Total investments	$	20,687	$	268	$	(174	)	$	20,781

The amortized cost and fair value of debt securities as of March 31, 2016, 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	$	2,534	$	2,539	$	128	$	128
Due after one year through five years	7,944		8,019		184		186
Due after five years through ten years	4,841		4,968		114		114
Due after ten years	1,983		2,046		82		83
U.S. agency mortgage-backed securities	2,488		2,513		—		—
Non-U.S. agency mortgage-backed securities	958		971		—		—
Total debt securities	$	20,748	$	21,056	$	508	$	511

Table of Contents

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, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	507	$	(1	)	$	—	$	—		$	507	$	(1	)
State and municipal obligations	488		(2		)	—		—			488		(2		)
Corporate obligations	2,107		(22		)	337		(8		)	2,444		(30		)
U.S. agency mortgage-backed securities	—		—			214		(3		)	214		(3		)
Non-U.S. agency mortgage-backed securities	203		(1		)	145		(3		)	348		(4		)
Total debt securities - available-for-sale	$	3,305	$	(26	)	$	696	$	(14	)	$	4,001	$	(40	)
Equity securities - available-for-sale	$	98	$	(8	)	$	94	$	(45	)	$	192	$	(53	)
December 31, 2015
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,473	$	(6	)	$	—	$	—		$	1,473	$	(6	)
State and municipal obligations	650		(3		)	—		—			650		(3		)
Corporate obligations	4,629		(63		)	339		(18		)	4,968		(81		)
U.S. agency mortgage-backed securities	1,304		(12		)	116		(4		)	1,420		(16		)
Non-U.S. agency mortgage-backed securities	593		(7		)	127		(4		)	720		(11		)
Total debt securities - available-for-sale	$	8,649	$	(91	)	$	582	$	(26	)	$	9,231	$	(117	)
Equity securities - available-for-sale	$	112	$	(11	)	$	89	$	(46	)	$	201	$	(57	)

The Company’s unrealized losses from all securities as of March 31, 2016 were generated from approximately 5,000 positions out of a total of 26,000 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. As of March 31, 2016, 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.

Net realized gains reclassified out of accumulated other comprehensive income were from the following sources:



	Three Months Ended March 31,
(in millions)	2016			2015
Total other than temporary impairments recognized in earnings	$	(21	)	$	(1	)
Gross realized losses from sales	(31		)	(6		)
Gross realized gains from sales	87			10
Net realized gains (included in investment and other income on the Condensed Consolidated Statements of Operations)	35			3
Income tax effect (included in provision for income taxes on the Condensed Consolidated Statements of Operations)	(13		)	(1		)
Realized gains, net of taxes	$	22		$	2

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.

Table of Contents

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 5 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K.

The Company elected to measure the entirety of the Supplemental Health Insurance Program (AARP Program) assets under management at fair value pursuant to the fair value option. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for further detail on the AARP Program.

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, excluding assets and liabilities related to the AARP Program:



(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, 2016
Cash and cash equivalents	$	10,590		$	6		$	—		$	10,596
Debt securities - available-for-sale:
U.S. government and agency obligations	2,159			171			—			2,330
State and municipal obligations	—			6,411			—			6,411
Corporate obligations	8			8,725			98			8,831
U.S. agency mortgage-backed securities	—			2,513			—			2,513
Non-U.S. agency mortgage-backed securities	—			971			—			971
Total debt securities - available-for-sale	2,167			18,791			98			21,056
Equity securities - available-for-sale	1,344			15			390			1,749
Interest rate swap assets	—			245			—			245
Total assets at fair value	$	14,101		$	19,057		$	488		$	33,646
Percentage of total assets at fair value	42		%	57		%	1		%	100		%
December 31, 2015
Cash and cash equivalents	$	10,906		$	17		$	—		$	10,923
Debt securities - available-for-sale:
U.S. government and agency obligations	1,779			198			—			1,977
State and municipal obligations	—			6,168			—			6,168
Corporate obligations	5			7,308			93			7,406
U.S. agency mortgage-backed securities	—			2,124			—			2,124
Non-U.S. agency mortgage-backed securities	—			951			5			956
Total debt securities - available-for-sale	1,784			16,749			98			18,631
Equity securities - available-for-sale	1,223			14			402			1,639
Interest rate swap assets	—			93			—			93
Total assets at fair value	$	13,913		$	16,873		$	500		$	31,286
Percentage of total assets at fair value	44		%	54		%	2		%	100		%
Interest rate swap liabilities	$	—		$	11		$	—		$	11

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, 2016 or 2015.

Table of Contents

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, 2016
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	178	$	—	$	—	$	178	$	175
State and municipal obligations	—		—		7		7		7
Corporate obligations	87		11		228		326		326
Total debt securities - held-to-maturity	$	265	$	11	$	235	$	511	$	508
Other assets	$	—	$	477	$	—	$	477	$	478
Long-term debt and other financing obligations	$	—	$	32,605	$	—	$	32,605	$	30,020
December 31, 2015
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	164	$	—	$	—	$	164	$	163
State and municipal obligations	—		—		8		8		8
Corporate obligations	91		10		238		339		339
Total debt securities - held-to-maturity	$	255	$	10	$	246	$	511	$	510
Other assets	$	—	$	493	$	—	$	493	$	500
Long-term debt and other financing obligations	$	—	$	29,455	$	—	$	29,455	$	27,978

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 ended March 31, 2016 or 2015.

A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows:



	March 31, 2016									March 31, 2015
(in millions)	Debt Securities			Equity Securities			Total			Debt Securities		Equity Securities			Total
Balance at beginning of period	$	98		$	402		$	500		$	74	$	310		$	384
Purchases	4			12			16			4		4			8
Sales	(7		)	(2		)	(9		)	—		(1		)	(1		)
Net unrealized gains (losses) in accumulated other comprehensive income	3			(6		)	(3		)	1		(5		)	(4		)
Net realized (losses) gains in investment and other income	—			(16		)	(16		)	—		1			1
Balance at end of period	$	98		$	390		$	488		$	79	$	309		$	388

4. Medicare Part D Pharmacy Benefits

The Condensed Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program:



	March 31, 2016						December 31, 2015
(in millions)	Subsidies		Drug Discount		Risk-Share		Subsidies		Drug Discount		Risk-Share
Other current receivables	$	1,356	$	242	$	—	$	1,703	$	423	$	—
Other policy liabilities	—		34		527		—		58		496

See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for further detail on Medicare Part D.

Table of Contents

5. 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 its affiliated and non-affiliated clients. As of March 31, 2016 and December 31, 2015, total pharmaceutical manufacturer rebates receivable included in other receivables in the Condensed Consolidated Balance Sheets amounted to $2.8 billion and $2.6 billion, respectively. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for more information on the Company’s pharmaceutical manufacturer rebates.

6. Medical Costs Reserve Development

Favorable medical cost reserve development was $360 million and $140 million for the three months ended March 31, 2016 and 2015, respectively. In both periods, favorable development was driven by a number of individual factors that were not material.

Table of Contents

7. Commercial Paper and Long-Term Debt

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



	March 31, 2016						December 31, 2015
(in millions, except percentages)	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value (a)		Fair Value
Commercial paper	$	3,702	$	3,702	$	3,702	$	3,987	$	3,987	$	3,987
Floating rate term loan due July 2016	1,500		1,500		1,500		1,500		1,500		1,500
5.375% notes due March 2016	—		—		—		601		605		606
1.875% notes due November 2016	400		400		403		400		400		403
5.360% notes due November 2016	95		95		97		95		95		98
Floating rate notes due January 2017	750		749		751		750		749		751
6.000% notes due June 2017	441		455		467		441		458		469
1.450% notes due July 2017	750		749		754		750		749		750
1.400% notes due October 2017	625		624		627		625		624		624
6.000% notes due November 2017	156		162		168		156		162		168
1.400% notes due December 2017	750		751		753		750		751		748
6.000% notes due February 2018	1,100		1,112		1,194		1,100		1,114		1,196
1.900% notes due July 2018	1,500		1,495		1,523		1,500		1,494		1,505
1.700% notes due February 2019	750		747		756		—		—		—
1.625% notes due March 2019	500		502		504		500		502		494
2.300% notes due December 2019	500		509		508		500		499		502
2.700% notes due July 2020	1,500		1,494		1,558		1,500		1,493		1,516
3.875% notes due October 2020	450		464		487		450		452		476
4.700% notes due February 2021	400		424		452		400		413		438
2.125% notes due March 2021	750		744		757		—		—		—
3.375% notes due November 2021	500		516		534		500		500		517
2.875% notes due December 2021	750		778		779		750		753		760
2.875% notes due March 2022	1,100		1,097		1,140		1,100		1,059		1,099
3.350% notes due July 2022	1,000		994		1,064		1,000		994		1,023
0.000% notes due November 2022	15		11		12		15		10		11
2.750% notes due February 2023	625		635		636		625		611		613
2.875% notes due March 2023	750		810		770		750		781		742
3.750% notes due July 2025	2,000		1,985		2,155		2,000		1,985		2,062
3.100% notes due March 2026	1,000		994		1,023		—		—		—
4.625% notes due July 2035	1,000		991		1,116		1,000		991		1,038
5.800% notes due March 2036	850		837		1,081		850		838		1,003
6.500% notes due June 2037	500		491		674		500		492		628
6.625% notes due November 2037	650		640		896		650		641		829
6.875% notes due February 2038	1,100		1,074		1,544		1,100		1,076		1,439
5.700% notes due October 2040	300		295		377		300		296		348
5.950% notes due February 2041	350		345		454		350		345		416
4.625% notes due November 2041	600		588		669		600		588		609
4.375% notes due March 2042	502		483		540		502		483		493
3.950% notes due October 2042	625		606		629		625		606		582
4.250% notes due March 2043	750		733		790		750		734		728
4.750% notes due July 2045	2,000		1,971		2,293		2,000		1,971		2,107
Total commercial paper, term loan and long-term debt	$	33,586	$	33,552	$	36,137	$	31,972	$	31,801	$	33,278


(a)	In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03.

The Company’s long-term debt obligations also included $170 million and $164 million of other financing obligations, of which $58 million and $47 million were current as of March 31, 2016 and December 31, 2015, respectively.

Table of Contents

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, 2016, the Company’s outstanding commercial paper had a weighted-average annual interest rate of 0.7%.

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 2020, December 2018, and November 2016, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of March 31, 2016, 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, 2016, annual interest rates would have ranged from 1.2% to 1.7%.

Debt Covenants

The Company’s bank credit facilities contain various covenants, including covenants requiring the Company to maintain a defined 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, 2016.

8. 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. 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 Centers for Medicare and Medicaid Services (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

Table of Contents

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. The Company has produced documents, information and witnesses to the Department of Justice in cooperation with a current review of the Company’s risk-adjustment processes, including the Company’s patient chart review and related programs. 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.

The Company cannot reasonably estimate the range of loss, if any, that may result from any material government investigations, audits and reviews in which it is currently involved given the status of the reviews, the wide range of possible outcomes and inherent difficulty in predicting regulatory action, fines and penalties, if any, the Company’s legal and factual defenses and the various remedies and levels of judicial review available to the Company in the event of an adverse finding.

Guaranty Fund Assessments

Under state guaranty association laws, certain insurance companies can be assessed (up to prescribed limits) for certain obligations to the policyholders and claimants of impaired or insolvent insurance companies (including state health insurance cooperatives) that write the same line or similar lines of business. In 2009, the Pennsylvania Insurance Commissioner placed long term care insurer Penn Treaty Network America Insurance Company and its subsidiary (Penn Treaty), neither of which is affiliated with the Company, in rehabilitation and petitioned a state court for approval to liquidate Penn Treaty. In 2012, the court denied the liquidation petition and ordered the Insurance Commissioner to submit a rehabilitation plan. The court held a hearing in July 2015 to begin its consideration of the latest proposed rehabilitation plan. The hearing is scheduled to continue in 2016.

If the current proposed rehabilitation plan, which contemplates the partial liquidation of Penn Treaty, is approved by the court, the Company’s insurance entities and other insurers may be required to pay a portion of Penn Treaty’s policyholder claims through state guaranty association assessments. The Company continues to vigorously challenge the proposed rehabilitation plan. The Company is currently unable to estimate losses or ranges of losses because the Company cannot predict when or to what extent Penn Treaty will ultimately be liquidated, the amount of the insolvency, the amount and timing of any associated guaranty fund assessments or the availability and amount of any premium tax and other potential offsets.

9. 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 14 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K.

Table of Contents

The following table presents the reportable segment financial information:



			Optum
(in millions)	UnitedHealthcare		OptumHealth		OptumInsight		OptumRx		Optum Eliminations			Optum		Corporate and Eliminations			Consolidated
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
Three Months Ended March 31, 2015
Revenues - external customers:
Premiums	$	30,905	$	769	$	—	$	—	$	—		$	769	$	—		$	31,674
Products	—		5		20		1,205		—			1,230		—			1,230
Services	1,603		521		559		23		—			1,103		—			2,706
Total revenues - external customers	32,508		1,295		579		1,228		—			3,102		—			35,610
Total revenues - intersegment	—		1,963		811		7,067		(159		)	9,682		(9,682		)	—
Investment and other income	115		31		—		—		—			31		—			146
Total revenues	$	32,623	$	3,289	$	1,390	$	8,295	$	(159	)	$	12,815	$	(9,682	)	$	35,756
Earnings from operations	$	1,898	$	234	$	222	$	286	$	—		$	742	$	—		$	2,640
Interest expense	—		—		—		—		—			—		(150		)	(150		)
Earnings before income taxes	$	1,898	$	234	$	222	$	286	$	—		$	742	$	(150	)	$	2,490


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 2015 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 2015 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 making 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. We offer a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services.

Table of Contents

Further information on our business is included 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 2015 10-K and additional information on our segments can be found in this Item 2 and in Note 9 of Notes to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report.

Business Trends

Our businesses participate in the United States, Brazilian and certain other international health economies. 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 aspects. Our review of regulatory considerations involves a focus on minimum loss ratio (MLR) thresholds and the risk adjustment and reinsurance provisions that impact the small group and individual markets. We will continue seeking to balance growth and profitability across all of these dimensions.

We continue to expect broad-based competition in commercial products and pressure from government funding. The intensity of commercial pricing competition depends on local market conditions and competitive dynamics. Annual commercial premium rate increases are subject to federal and state review and approval procedures. In addition, a provision in the 2016 Federal Budget imposes a one year moratorium for payment of the 2017 Health Insurance Industry Tax. For policies that include a portion of 2017 coverage periods, our premiums will reflect the impact of the moratorium. Medicare Advantage funding continues to be pressured, as discussed below in “Regulatory Trends and Uncertainties.” We expect continued Medicaid revenue growth due to anticipated increases in the number of people we serve; we also believe that the reimbursement rate environment creates the risk of downward pressure on Medicaid net margin percentages.

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 2016 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 some of the key provisions of the Patient Protection and Affordable Care Act and a reconciliation measure, the Health Care and Education Reconciliation Act of 2010 (together, Health Reform Legislation) and other regulatory items. For additional information about Health Reform Legislation and 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 2015 10-K.

Medicare Advantage Rates and Minimum Loss Ratios. Final 2017 Medicare Advantage rates resulted in an increase in industry base rates of approximately 0.85%, well short of the industry forward medical cost trend of 3%, which creates continued pressure in the Medicare Advantage program. The impact of these cuts to our Medicare Advantage revenues is partially mitigated by reductions in provider reimbursements for those care providers with rates indexed to Medicare Advantage revenues or Medicare fee-for-service reimbursement rates. These factors can affect our plan benefit designs, pricing, growth prospects and earnings expectations for our Medicare Advantage plans.

As provided in the Affordable Care Act, 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 2016 payment year, approximately 57% of our Medicare Advantage members are in plans rated four stars or higher. We expect that at least 63% of our Medicare Advantage members will be in plans rated four stars or higher for payment year 2017. 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.

Health Insurance Industry Tax and Premium Stabilization Programs. The industry-wide amount of the annual tax is $11.3 billion in 2016 and we expect to pay our proportionate share of $1.8 billion in September 2016. Health Reform Legislation also

Table of Contents

includes three programs designed to stabilize the health insurance markets. These programs encompass: a temporary reinsurance program; a temporary risk corridors program; and a permanent risk adjustment program.

For details on the Health Insurance Industry Tax and Premium Stabilization Programs, see Note 2 of Notes to the Consolidated Financial Statements included in Part 2, Item 8, “Financial Statements” in the Company’s 2015 10-K.

Individual Public Exchanges. In 2016, we are participating in individual public exchange offerings in 34 states. We have a premium deficiency reserve recorded for our estimated 2016 losses as of March 31, 2016. A portion of the premium deficiency reserve was recorded in our 2015 results for in-force contracts as of January 1, 2016. In 2017, we will participate in a substantially smaller number of individual public exchanges.

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)
(in millions, except percentages and per share data)	2016			2015			2016 vs. 2015
Revenues:
Premiums	$	34,811		$	31,674		$	3,137		10	%
Products	6,393			1,230			5,163			420
Services	3,140			2,706			434			16
Investment and other income	183			146			37			25
Total revenues	44,527			35,756			8,771			25
Operating costs (a):
Medical costs	28,430			25,790			2,640			10
Operating costs	6,758			5,834			924			16
Cost of products sold	5,877			1,114			4,763			428
Depreciation and amortization	502			378			124			33
Total operating costs	41,567			33,116			8,451			26
Earnings from operations	2,960			2,640			320			12
Interest expense	(259		)	(150		)	109			73
Earnings before income taxes	2,701			2,490			211			8
Provision for income taxes	(1,074		)	(1,077		)	(3		)	—
Net earnings	1,627			1,413			214			15
Earnings attributable to noncontrolling interests	(16		)	—			16			nm
Net earnings attributable to UnitedHealth Group common shareholders	$	1,611		$	1,413		$	198		14	%
Diluted earnings per share attributable to UnitedHealth Group common shareholders	$	1.67		$	1.46		$	0.21		14	%
Medical care ratio (b)	81.7		%	81.4		%	0.3		%
Operating cost ratio	15.2			16.3			(1.1		)
Operating margin	6.6			7.4			(0.8		)
Tax rate	39.8			43.3			(3.5		)
Net earnings margin (c)	3.6			4.0			(0.4		)
Return on equity (d)	18.7		%	17.6		%	1.1		%

nm= not meaningful


(a)	During the fourth quarter of 2015, the Company changed its presentation of certain pharmacy fulfillment costs related to its OptumRx business. See Note 1 of Notes to the Condensed Consolidated Financial Statements included in Part I, Item 1 of this report for more information on this reclassification.


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


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


(d)	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 period presented.

SELECTED OPERATING PERFORMANCE AND OTHER SIGNIFICANT ITEMS

The following summarizes select first quarter 2016 year-over-year operating comparisons to first quarter 2015 and other 2016 significant items.


•	Consolidated revenues grew 25%, UnitedHealthcare revenues grew 10% and Optum revenues grew 54%.

Table of Contents


•	UnitedHealthcare grew to serve an additional 2.0 million people domestically.


•	Earnings from operations increased 12%, including an increase of 49% at Optum, partially offset by a slight decrease at UnitedHealthcare.


•	Diluted earnings per common share increased 14% to $1.67.


•	Cash flows from operations were $2.3 billion.

2016 RESULTS OF OPERATIONS COMPARED TO 2015 RESULTS

Our results of operations for the three months ended March 31, 2016 compared to the corresponding prior period was affected by our acquisition of Catamaran Corporation (Catamaran) in the third quarter of 2015.

Consolidated Financial Results

Revenues

The increase in revenues was primarily driven by the effect of the Catamaran acquisition, organic growth in the number of individuals served across our benefits businesses and growth across all of Optum’s businesses.

Medical Costs and Medical Care Ratio

Medical costs increased due to risk-based membership growth, additional exchange losses and an extra day in the quarter due to the leap year. The medical care ratio increased due to the factors that increased medical costs, partially offset by higher levels of favorable reserve development and improved core business performance.

Operating Cost Ratio

The decrease in our operating cost ratio was due to the inclusion of Catamaran.

Income Tax Rate

Our effective tax rate decreased primarily due to the adoption of ASU 2016-09, which we adopted in the first quarter of 2016. We expect our effective tax rate for full year 2016 will be approximately 41%. See Note 1 of Notes to the Condensed Consolidated Financial Statements included in Part I, Item 1 of this report for more information about the adoption of ASU 2016-09.

Table of Contents

Reportable Segments

See Note 9 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)	2016			2015			2016 vs. 2015
Revenues
UnitedHealthcare	$	35,900		$	32,623		$	3,277		10	%
OptumHealth	3,998			3,289			709			22
OptumInsight	1,667			1,390			277			20
OptumRx	14,273			8,295			5,978			72
Optum eliminations	(254		)	(159		)	95			60
Optum	19,684			12,815			6,869			54
Eliminations	(11,057		)	(9,682		)	1,375			14
Consolidated revenues	$	44,527		$	35,756		$	8,771		25	%
Earnings from operations
UnitedHealthcare	$	1,854		$	1,898		$	(44	)	(2	)%
OptumHealth	300			234			66			28
OptumInsight	246			222			24			11
OptumRx	560			286			274			96
Optum	1,106			742			364			49
Consolidated earnings from operations	$	2,960		$	2,640		$	320		12	%
Operating margin
UnitedHealthcare	5.2		%	5.8		%	(0.6		)%
OptumHealth	7.5			7.1			0.4
OptumInsight	14.8			16.0			(1.2		)
OptumRx	3.9			3.4			0.5
Optum	5.6			5.8			(0.2		)
Consolidated operating margin	6.6		%	7.4		%	(0.8		)%

UnitedHealthcare

The following table summarizes UnitedHealthcare revenues by business:



	Three Months Ended March 31,				Increase/(Decrease)
(in millions, except percentages)	2016		2015		2016 vs. 2015
UnitedHealthcare Employer & Individual	$	12,820	$	11,423	$	1,397		12	%
UnitedHealthcare Medicare & Retirement	14,065		12,781		1,284			10
UnitedHealthcare Community & State	7,728		6,905		823			12
UnitedHealthcare Global	1,287		1,514		(227		)	(15	)
Total UnitedHealthcare revenues	$	35,900	$	32,623	$	3,277		10	%

Table of Contents

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)	2016	2015	2016 vs. 2015
Commercial risk-based	8,600	8,115	485		6	%
Commercial fee-based, including TRICARE	21,825	21,315	510		2
Total commercial	30,425	29,430	995		3
Medicare Advantage	3,530	3,205	325		10
Medicaid	5,450	5,040	410		8
Medicare Supplement (Standardized)	4,200	3,930	270		7
Total public and senior	13,180	12,175	1,005		8
Total UnitedHealthcare - domestic medical	43,605	41,605	2,000		5
International	4,065	4,160	(95	)	(2	)
Total UnitedHealthcare - medical	47,670	45,765	1,905		4	%
Supplemental Data:
Medicare Part D stand-alone	4,990	5,105	(115	)	(2	)%

Growth in services to mid-sized employers, small groups and individuals led the overall increase in people served through risk-based benefit plans in the commercial market. 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. The number of people served internationally decreased year-over-year primarily due to pricing increases in response to inflationary economic conditions in Brazil.

UnitedHealthcare’s revenue growth was due to growth in the number of individuals served across its businesses and price increases reflecting underlying medical cost trends.

UnitedHealthcare’s operating earnings and operating margins decreased year-over-year driven by an additional day in the quarter due to the leap year and public exchange performance, partially offset by higher levels of favorable reserve development.

Optum

Total revenues and operating earnings increased as each reporting segment reported increased revenues and earnings from operations as a result of the factors discussed below. An increased mix of pharmacy care services business, due to the acquisition of Catamaran, decreased Optum’s operating margin from the prior year.

The results by segment were as follows:

OptumHealth

Revenue and earnings from operations increased at OptumHealth primarily due to growth in its health delivery businesses including expansion in neighborhood care centers.

OptumInsight

Revenue and earnings from operations at OptumInsight increased primarily due to expansion and growth in technology services, care provider revenue management services and payment services.

OptumRx

Revenue and earnings from operations increased due to the acquisition of Catamaran and strong organic growth. For more information about Catamaran, see Note 3 in Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in our 2015 10-K.

Table of Contents

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)	2016			2015			2016 vs. 2015
Sources of cash:
Cash provided by operating activities	$	2,318		$	2,269		$	49
Issuances of commercial paper and long-term debt, net of repayments	1,599			778			821
Proceeds from common stock issuances	198			192			6
Customer funds administered	1,067			1,049			18
Other	14			—			14
Total sources of cash	5,196			4,288
Uses of cash:
Common stock repurchases	(500		)	(896		)	396
Cash paid for acquisitions, net of cash assumed	(1,697		)	(575		)	(1,122		)
Purchases of investments, net of sales and maturities	(2,073		)	(545		)	(1,528		)
Purchases of property, equipment and capitalized software, net	(425		)	(373		)	(52		)
Cash dividends paid	(477		)	(357		)	(120		)
Other	(385		)	(302		)	(83		)
Total uses of cash	(5,557		)	(3,048		)
Effect of exchange rate changes on cash and cash equivalents	34			(85		)	119
Net (decrease) increase in cash and cash equivalents	$	(327	)	$	1,155		$	(1,482	)

2016 Cash Flows Compared to 2015 Cash Flows

Cash flows provided by operating activities in 2016 increased primarily due to higher net earnings.

Other significant changes in sources or uses of cash year-over-year included increased net purchases of investments and cash paid for acquisitions, partially offset by an increase in proceeds from debt issuances.

Financial Condition

As of March 31, 2016, our cash, cash equivalent and available-for-sale investment balances of $33.4 billion included $10.6 billion of cash and cash equivalents (of which $500 million was available for general corporate use), $21.1 billion of debt securities and $1.7 billion of investments in equity securities. Given the significant portion of our portfolio held 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 3.3 years and a weighted-average credit rating of “AA” as of March 31, 2016. 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 7 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, 2016, our debt to debt-plus-shareholders’ equity ratio, as defined and calculated under the credit facilities, was approximately 47%.

Table of Contents

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. In February 2016, we issued debt to repay commercial paper borrowings, which were incurred for general corporate and working capital purposes, and to repay our 5.375% notes that were due March 15, 2016. For more information, see Note 7 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, 2016 were as follows:

Moody’s

Standard & Poor’s

Fitch

A.M. Best

Ratings

Outlook

Ratings

Outlook

Ratings

Outlook

Ratings

Outlook

Senior unsecured debt

Negative

A+

Negative

A-

Negative

bbb+

Stable

Commercial paper

P-2

n/a

A-1

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, 2016, we repurchased 4 million shares at an average price of $119.49 per share. As of March 31, 2016, we had Board authorization to purchase up to an additional 57 million shares of our common stock.

Dividends. Our quarterly cash dividend to shareholders reflects an annual dividend rate of $2.00 per share. Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change.

For additional liquidity discussion, see Note 11 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 2015 10-K.

CONTRACTUAL OBLIGATIONS AND COMMITMENTS

A summary of future obligations under our various contractual obligations and commitments as of December 31, 2015 was disclosed in our 2015 10-K. During the three months ended March 31, 2016, 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, 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 intangible assets and 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 of our 2015 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 2015 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

Table of Contents

PSLRA. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “forecast,” “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 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 TRICARE programs, including sequestration and 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; our participation in federal and state health insurance exchanges which entail uncertainties associated with mix and volume of business; 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; 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, including our acquisition of Catamaran; fluctuations in foreign currency exchange rates on our reported shareholders’ equity and results of operations; downgrades in our credit ratings; adverse economic conditions, including decreases in enrollment resulting from increases in the unemployment rate and commercial attrition; the performance of our investment portfolio; impairment of the value of our goodwill and intangible assets in connection with dispositions or if estimated future results do not adequately support goodwill and intangible assets recorded for our existing businesses or the businesses that we acquire; increases in health care costs resulting from large-scale medical emergencies; 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.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Our primary market risks are exposures to changes in interest rates that impact our investment income and interest expense and the fair value of certain of our fixed-rate investments and debt, as well as foreign currency exchange rate risk of the U.S. dollar, primarily to the Brazilian real.

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.

Table of Contents

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, 2016 on our investment income and interest expense per annum, and the fair value of our investments and debt (in millions, except percentages):



	March 31, 2016
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 %	$	258		$	265		$	(1,526	)	$	(3,754	)
1	129			132			(772		)	(2,025		)
(1)	(89		)	(58		)	706			2,386
(2)	nm			nm			1,002			4,935

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, 2016, 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, 2016, 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.

We have an exposure to changes in the value of the Brazilian real to the U.S. dollar in translation of Amil’s operating results at the average exchange rate over the accounting period, and Amil’s assets and liabilities at the spot rate at the end of the accounting period. The gains or losses resulting from translating foreign assets and liabilities into U.S. dollars are included in equity and comprehensive income in our Condensed Consolidated Financial Statements.

An appreciation of the U.S. dollar against the Brazilian real reduces the carrying value of the net assets denominated in the Brazilian real. For example, as of March 31, 2016, a hypothetical 10% and 25% increase in the value of the U.S. dollar against the Brazilian real would have caused a reduction in net assets of approximately $330 million and $730 million, respectively. We manage exposure to foreign currency risk by conducting our international business operations primarily in their functional currencies.


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, 2016. 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, 2016.

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, 2016 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 8 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 2015 10-K, which could materially affect our business, financial condition or future results. The risks

Table of Contents

described in our 2015 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 2015 10-K.

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

Issuer Purchases of Equity Securities (a)

First Quarter 2016



For the Month Ended	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares That May Yet Be Purchased Under The Plans or Programs
	(in millions)			(in millions)	(in millions)
January 31, 2016	4	$	119	4	57
February 29, 2016	—	—		—	57
March 31, 2016	—	—		—	57
Total	4	$	119	4

(a)

In November 1997, our Board of Directors adopted a share repurchase program, which the Board evaluates periodically. In June 2014, the Board renewed our share repurchase program with an authorization to repurchase up to 100 million shares of our common stock in open market purchases or other types of transactions (including prepaid or structured repurchase programs). There is no established expiration date for the program.

Table of Contents


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 9, 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)
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, 2016 filed on May 4, 2016, 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.

________________



*		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.

Table of Contents

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 4, 2016
Stephen J. Hemsley	Chief Executive Officer (principal executive officer)

/s/ DAVID S. WICHMANN	President and Chief Financial Officer (principal financial officer)	Dated:	May 4, 2016
David S. Wichmann

/S/ THOMAS E. ROOS	Senior Vice President and Chief Accounting Officer (principal accounting officer)	Dated:	May 4, 2016
Thomas E. Roos

Table of Contents

EXHIBIT INDEX*



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 9, 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)
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, 2016 filed on May 4, 2016, 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.

________________



*		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.

Exhibit

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



	Three Months Ended March 31,
(dollars in millions)	2016		2015
Earnings before income taxes	$	2,701	$	2,490
Fixed charges	301		191
Total earnings available for fixed charges	$	3,002	$	2,681

Fixed Charges:
Interest expense	$	259	$	150
Interest component of rental payments	42		41
Total fixed charges	$	301	$	191
Ratio of earnings to fixed charges	10.0		14.0

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.

Exhibit

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 4, 2016	/s/ STEPHEN J. HEMSLEY
	Stephen J. Hemsley Chief Executive Officer

Certification of Principal Financial Officer

I, David S. Wichmann, 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 4, 2016	/s/ DAVID S. WICHMANN
	David S. Wichmann President and Chief Financial Officer

Exhibit

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, 2016 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 4, 2016	/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, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David S. Wichmann, 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 4, 2016	/s/ DAVID S. WICHMANN
	David S. Wichmann President and Chief Financial Officer

unh-20160331.xml
Attachment: XBRL INSTANCE DOCUMENT

unh-20160331.xsd
Attachment: XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT

unh-20160331_cal.xml
Attachment: XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT

unh-20160331_def.xml
Attachment: XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT

unh-20160331_lab.xml
Attachment: XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT

unh-20160331_pre.xml
Attachment: XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT

Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	Mar. 31, 2016	Apr. 29, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
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		950,804,129

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 10,596	$ 10,923
Short-term investments	2,418	1,988
Accounts receivable, net	7,777	6,523
Other current receivables, net	6,865	6,801
Assets under management	2,878	2,998
Prepaid expenses and other current assets	3,211	2,406
Total current assets	33,745	31,639
Long-term investments	20,895	18,792
Property, equipment and capitalized software, net	4,976	4,861
Goodwill	46,294	44,453
Other intangible assets, net	8,861	8,391
Other assets	3,084	3,118
Total assets	117,855	111,254
Current liabilities:
Medical costs payable	15,823	14,330
Accounts payable and accrued liabilities	13,740	11,994
Other policy liabilities	8,317	7,798
Commercial paper and current maturities of long-term debt	6,504	6,634
Unearned revenues	1,901	2,142
Total current liabilities	46,285	42,898
Long-term debt, less current maturities	27,218	25,331
Future policy benefits	2,508	2,496
Deferred income taxes	3,066	3,587
Other liabilities	1,887	1,481
Total liabilities	80,964	$ 75,793
Commitments and contingencies (Note 8)
Redeemable noncontrolling interests	1,824	$ 1,736
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; 954 and 953 issued and outstanding	10	10
Additional paid in capital	0	29
Retained earnings	37,963	37,125
Accumulated other comprehensive loss	(2,804)	(3,334)
Nonredeemable noncontrolling interest	(102)	(105)
Total equity	35,067	33,725
Total liabilities, redeemable noncontrolling interests and equity	$ 117,855	$ 111,254

Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2016	Dec. 31, 2015
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000	3,000
Common stock, shares issued	954	953
Common stock, shares outstanding	954	953
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

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Premiums	$ 34,811	$ 31,674
Products	6,393	1,230
Services	3,140	2,706
Investment and other income	183	146
Total revenues	44,527	35,756
Operating costs:
Medical costs	28,430	25,790
Operating costs	6,758	5,834
Cost of products sold	5,877	1,114
Depreciation and amortization	502	378
Total operating costs	41,567	33,116
Earnings from operations	2,960	2,640
Interest expense	(259)	(150)
Earnings before income taxes	2,701	2,490
Provision for income taxes	(1,074)	(1,077)
Net earnings	1,627	1,413
Earnings attributable to noncontrolling interests	(16)	0
Net earnings attributable to UnitedHealth Group common shareholders	$ 1,611	$ 1,413
Earnings per share attributable to UnitedHealth Group common shareholders:
Basic	$ 1.69	$ 1.48
Diluted	$ 1.67	$ 1.46
Basic weighted-average number of common shares outstanding	953	954
Dilutive effect of common share equivalents	14	15
Diluted weighted-average number of common shares outstanding	967	969
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents	7	9
Cash dividends declared per common share	$ 0.500	$ 0.375

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net earnings	$ 1,627	$ 1,413
Other comprehensive income (loss):
Gross unrealized gains on investment securities during the period	260	105
Income tax effect	(96)	(37)
Total unrealized gains, net of tax	164	68
Gross reclassification adjustment for net realized gains included in net earnings	(35)	(3)
Income tax effect	13	1
Total reclassification adjustment, net of tax	(22)	(2)
Total foreign currency translation gains (losses)	388	(959)
Other comprehensive income (loss)	530	(893)
Comprehensive income	2,157	520
Comprehensive income attributable to noncontrolling interests	(16)	0
Comprehensive income attributable to UnitedHealth Group common shareholders	$ 2,141	$ 520

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 [Member]	Nonredeemable Noncontrolling Interest [Member]
Balance (in shares) at Dec. 31, 2014		954
Balance at Dec. 31, 2014	$ 32,454	$ 10	$ 0	$ 33,836	$ 223	$ (1,615)	$ 0
Net earnings attributable to UnitedHealth Group common shareholders	1,413			1,413
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest	1,413
Other comprehensive income (loss)	(893)				66	(959)
Issuances of common stock, and related tax effects (in shares)		6
Issuances of common stock, and related tax effects	0	$ 0	0
Share-based compensation, and related tax benefits	206		206
Common share repurchases (in shares)		(8)
Common share repurchases	(896)	$ 0	(157)	(739)
Cash dividends paid on common shares	(357)			(357)
Redeemable noncontrolling interests fair value and other adjustments	(49)		(49)
Balance (in shares) at Mar. 31, 2015		952
Balance at Mar. 31, 2015	$ 31,878	$ 10	0	34,153	289	(2,574)	0
Balance (in shares) at Dec. 31, 2015	953	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 (loss)	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
Share-based compensation, and related tax benefits	150
Stock Repurchased and Retired During Period, 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	954
Balance at Mar. 31, 2016	$ 35,067	$ 10	$ 0	$ 37,963	$ 198	$ (3,002)	$ (102)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net earnings	$ 1,627	$ 1,413
Noncash items:
Depreciation and amortization	502	378
Deferred income taxes	145	122
Share-based compensation	157	125
Other, net	6	(44)
Net change in other operating items, net of effects from acquisitions and changes in AARP balances:
Accounts receivable	(1,110)	(758)
Other assets	(2,162)	(2,162)
Medical costs payable	1,368	1,610
Accounts payable and other liabilities	1,770	1,648
Other policy liabilities	266	154
Unearned revenues	(251)	(217)
Cash flows from operating activities	2,318	2,269
Investing activities
Purchases of investments	(5,173)	(1,891)
Sales of investments	2,122	503
Maturities of investments	978	843
Cash paid for acquisitions, net of cash assumed	(1,697)	(575)
Purchases of property, equipment and capitalized software	(425)	(373)
Other, net	14	(32)
Cash flows used for investing activities	(4,181)	(1,525)
Financing activities
Common stock repurchases	(500)	(896)
Cash dividends paid	(477)	(357)
Proceeds from common stock issuances	198	192
Proceeds from long-term debt	2,485	0
Repayments of long-term debt	(601)	(416)
(Repayments of) proceeds from commercial paper, net	(285)	1,194
Customer funds administered	1,067	1,049
Other, net	(385)	(270)
Cash flows from financing activities	1,502	496
Effect of exchange rate changes on cash and cash equivalents	34	(85)
(Decrease) increase in cash and cash equivalents	(327)	1,155
Cash and cash equivalents, beginning of period	10,923	7,495
Cash and Cash Equivalents, end of period	$ 10,596	$ 8,650

Basis of Presentation (Notes)

3 Months Ended

Mar. 31, 2016

Basis of Presentation and Significant Accounting Policies [Text Block]

Basis of Presentation

Use of Estimates

The accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K remain unchanged.

Reclassification

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

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.

Investments (Notes)

3 Months Ended

Mar. 31, 2016

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, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,318	$	13	$	(1	)	$	2,330
State and municipal obligations	6,233		180		(2		)	6,411
Corporate obligations	8,751		110		(30		)	8,831
U.S. agency mortgage-backed securities	2,488		28		(3		)	2,513
Non-U.S. agency mortgage-backed securities	958		17		(4		)	971
Total debt securities - available-for-sale	20,748		348		(40		)	21,056
Equity securities - available-for-sale	1,739		63		(53		)	1,749
Debt securities - held-to-maturity:
U.S. government and agency obligations	175		3		—			178
State and municipal obligations	7		—		—			7
Corporate obligations	326		—		—			326
Total debt securities - held-to-maturity	508		3		—			511
Total investments	$	22,995	$	414	$	(93	)	$	23,316
December 31, 2015
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,982	$	1	$	(6	)	$	1,977
State and municipal obligations	6,022		149		(3		)	6,168
Corporate obligations	7,446		41		(81		)	7,406
U.S. agency mortgage-backed securities	2,127		13		(16		)	2,124
Non-U.S. agency mortgage-backed securities	962		5		(11		)	956
Total debt securities - available-for-sale	18,539		209		(117		)	18,631
Equity securities - available-for-sale	1,638		58		(57		)	1,639
Debt securities - held-to-maturity:
U.S. government and agency obligations	163		1		—			164
State and municipal obligations	8		—		—			8
Corporate obligations	339		—		—			339
Total debt securities - held-to-maturity	510		1		—			511
Total investments	$	20,687	$	268	$	(174	)	$	20,781

The amortized cost and fair value of debt securities as of March 31, 2016, 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	$	2,534	$	2,539	$	128	$	128
Due after one year through five years	7,944		8,019		184		186
Due after five years through ten years	4,841		4,968		114		114
Due after ten years	1,983		2,046		82		83
U.S. agency mortgage-backed securities	2,488		2,513		—		—
Non-U.S. agency mortgage-backed securities	958		971		—		—
Total debt securities	$	20,748	$	21,056	$	508	$	511



	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, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	507	$	(1	)	$	—	$	—		$	507	$	(1	)
State and municipal obligations	488		(2		)	—		—			488		(2		)
Corporate obligations	2,107		(22		)	337		(8		)	2,444		(30		)
U.S. agency mortgage-backed securities	—		—			214		(3		)	214		(3		)
Non-U.S. agency mortgage-backed securities	203		(1		)	145		(3		)	348		(4		)
Total debt securities - available-for-sale	$	3,305	$	(26	)	$	696	$	(14	)	$	4,001	$	(40	)
Equity securities - available-for-sale	$	98	$	(8	)	$	94	$	(45	)	$	192	$	(53	)
December 31, 2015
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,473	$	(6	)	$	—	$	—		$	1,473	$	(6	)
State and municipal obligations	650		(3		)	—		—			650		(3		)
Corporate obligations	4,629		(63		)	339		(18		)	4,968		(81		)
U.S. agency mortgage-backed securities	1,304		(12		)	116		(4		)	1,420		(16		)
Non-U.S. agency mortgage-backed securities	593		(7		)	127		(4		)	720		(11		)
Total debt securities - available-for-sale	$	8,649	$	(91	)	$	582	$	(26	)	$	9,231	$	(117	)
Equity securities - available-for-sale	$	112	$	(11	)	$	89	$	(46	)	$	201	$	(57	)

Net realized gains reclassified out of accumulated other comprehensive income were from the following sources:



	Three Months Ended March 31,
(in millions)	2016			2015
Total other than temporary impairments recognized in earnings	$	(21	)	$	(1	)
Gross realized losses from sales	(31		)	(6		)
Gross realized gains from sales	87			10
Net realized gains (included in investment and other income on the Condensed Consolidated Statements of Operations)	35			3
Income tax effect (included in provision for income taxes on the Condensed Consolidated Statements of Operations)	(13		)	(1		)
Realized gains, net of taxes	$	22		$	2

Fair Value (Notes)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value [Text Block]

Fair Value



(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, 2016
Cash and cash equivalents	$	10,590		$	6		$	—		$	10,596
Debt securities - available-for-sale:
U.S. government and agency obligations	2,159			171			—			2,330
State and municipal obligations	—			6,411			—			6,411
Corporate obligations	8			8,725			98			8,831
U.S. agency mortgage-backed securities	—			2,513			—			2,513
Non-U.S. agency mortgage-backed securities	—			971			—			971
Total debt securities - available-for-sale	2,167			18,791			98			21,056
Equity securities - available-for-sale	1,344			15			390			1,749
Interest rate swap assets	—			245			—			245
Total assets at fair value	$	14,101		$	19,057		$	488		$	33,646
Percentage of total assets at fair value	42		%	57		%	1		%	100		%
December 31, 2015
Cash and cash equivalents	$	10,906		$	17		$	—		$	10,923
Debt securities - available-for-sale:
U.S. government and agency obligations	1,779			198			—			1,977
State and municipal obligations	—			6,168			—			6,168
Corporate obligations	5			7,308			93			7,406
U.S. agency mortgage-backed securities	—			2,124			—			2,124
Non-U.S. agency mortgage-backed securities	—			951			5			956
Total debt securities - available-for-sale	1,784			16,749			98			18,631
Equity securities - available-for-sale	1,223			14			402			1,639
Interest rate swap assets	—			93			—			93
Total assets at fair value	$	13,913		$	16,873		$	500		$	31,286
Percentage of total assets at fair value	44		%	54		%	2		%	100		%
Interest rate swap liabilities	$	—		$	11		$	—		$	11



(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, 2016
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	178	$	—	$	—	$	178	$	175
State and municipal obligations	—		—		7		7		7
Corporate obligations	87		11		228		326		326
Total debt securities - held-to-maturity	$	265	$	11	$	235	$	511	$	508
Other assets	$	—	$	477	$	—	$	477	$	478
Long-term debt and other financing obligations	$	—	$	32,605	$	—	$	32,605	$	30,020
December 31, 2015
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	164	$	—	$	—	$	164	$	163
State and municipal obligations	—		—		8		8		8
Corporate obligations	91		10		238		339		339
Total debt securities - held-to-maturity	$	255	$	10	$	246	$	511	$	510
Other assets	$	—	$	493	$	—	$	493	$	500
Long-term debt and other financing obligations	$	—	$	29,455	$	—	$	29,455	$	27,978

A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows:



	March 31, 2016									March 31, 2015
(in millions)	Debt Securities			Equity Securities			Total			Debt Securities		Equity Securities			Total
Balance at beginning of period	$	98		$	402		$	500		$	74	$	310		$	384
Purchases	4			12			16			4		4			8
Sales	(7		)	(2		)	(9		)	—		(1		)	(1		)
Net unrealized gains (losses) in accumulated other comprehensive income	3			(6		)	(3		)	1		(5		)	(4		)
Net realized (losses) gains in investment and other income	—			(16		)	(16		)	—		1			1
Balance at end of period	$	98		$	390		$	488		$	79	$	309		$	388

Medicare Part D Pharmacy Benefits (Notes)

3 Months Ended

Mar. 31, 2016

Condensed Balance Sheet Statements, Captions [Line Items]

Medicare Part D Pharmacy Benefits Contract [Text Block]

Medicare Part D Pharmacy Benefits

The Condensed Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program:



	March 31, 2016						December 31, 2015
(in millions)	Subsidies		Drug Discount		Risk-Share		Subsidies		Drug Discount		Risk-Share
Other current receivables	$	1,356	$	242	$	—	$	1,703	$	423	$	—
Other policy liabilities	—		34		527		—		58		496

See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for further detail on Medicare Part D.

Other Current Receivables (Notes)	3 Months Ended
Other Current Receivables (Notes)	Mar. 31, 2016
Other Current Receivables [Abstract]
Other Current Receivables [Text Block]	5. 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 its affiliated and non-affiliated clients. As of March 31, 2016 and December 31, 2015, total pharmaceutical manufacturer rebates receivable included in other receivables in the Condensed Consolidated Balance Sheets amounted to $2.8 billion and $2.6 billion, respectively. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for more information on the Company’s pharmaceutical manufacturer rebates.

Medical Costs Reserve Development (Notes)	3 Months Ended
Medical Costs Reserve Development (Notes)	Mar. 31, 2016
Liability for Claims and Claims Adjustment Expense [Line Items]
Medical Cost Development Disclosure Text Block	Medical Costs Reserve Development Favorable medical cost reserve development was $360 million and $140 million for the three months ended March 31, 2016 and 2015, respectively. In both periods, favorable development was driven by a number of individual factors that were not material.

Commercial Paper and Long-Term Debt (Notes)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Commercial Paper and Long-Term Debt [Text Block]

Commercial Paper and Long-Term Debt

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



	March 31, 2016						December 31, 2015
(in millions, except percentages)	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value (a)		Fair Value
Commercial paper	$	3,702	$	3,702	$	3,702	$	3,987	$	3,987	$	3,987
Floating rate term loan due July 2016	1,500		1,500		1,500		1,500		1,500		1,500
5.375% notes due March 2016	—		—		—		601		605		606
1.875% notes due November 2016	400		400		403		400		400		403
5.360% notes due November 2016	95		95		97		95		95		98
Floating rate notes due January 2017	750		749		751		750		749		751
6.000% notes due June 2017	441		455		467		441		458		469
1.450% notes due July 2017	750		749		754		750		749		750
1.400% notes due October 2017	625		624		627		625		624		624
6.000% notes due November 2017	156		162		168		156		162		168
1.400% notes due December 2017	750		751		753		750		751		748
6.000% notes due February 2018	1,100		1,112		1,194		1,100		1,114		1,196
1.900% notes due July 2018	1,500		1,495		1,523		1,500		1,494		1,505
1.700% notes due February 2019	750		747		756		—		—		—
1.625% notes due March 2019	500		502		504		500		502		494
2.300% notes due December 2019	500		509		508		500		499		502
2.700% notes due July 2020	1,500		1,494		1,558		1,500		1,493		1,516
3.875% notes due October 2020	450		464		487		450		452		476
4.700% notes due February 2021	400		424		452		400		413		438
2.125% notes due March 2021	750		744		757		—		—		—
3.375% notes due November 2021	500		516		534		500		500		517
2.875% notes due December 2021	750		778		779		750		753		760
2.875% notes due March 2022	1,100		1,097		1,140		1,100		1,059		1,099
3.350% notes due July 2022	1,000		994		1,064		1,000		994		1,023
0.000% notes due November 2022	15		11		12		15		10		11
2.750% notes due February 2023	625		635		636		625		611		613
2.875% notes due March 2023	750		810		770		750		781		742
3.750% notes due July 2025	2,000		1,985		2,155		2,000		1,985		2,062
3.100% notes due March 2026	1,000		994		1,023		—		—		—
4.625% notes due July 2035	1,000		991		1,116		1,000		991		1,038
5.800% notes due March 2036	850		837		1,081		850		838		1,003
6.500% notes due June 2037	500		491		674		500		492		628
6.625% notes due November 2037	650		640		896		650		641		829
6.875% notes due February 2038	1,100		1,074		1,544		1,100		1,076		1,439
5.700% notes due October 2040	300		295		377		300		296		348
5.950% notes due February 2041	350		345		454		350		345		416
4.625% notes due November 2041	600		588		669		600		588		609
4.375% notes due March 2042	502		483		540		502		483		493
3.950% notes due October 2042	625		606		629		625		606		582
4.250% notes due March 2043	750		733		790		750		734		728
4.750% notes due July 2045	2,000		1,971		2,293		2,000		1,971		2,107
Total commercial paper, term loan and long-term debt	$	33,586	$	33,552	$	36,137	$	31,972	$	31,801	$	33,278


(a)	In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03.

Commercial Paper and Bank Credit Facilities

Debt Covenants

Commitments and Contingencies (Notes)	3 Months Ended
Commitments and Contingencies (Notes)	Mar. 31, 2016
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. 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 Centers for Medicare and Medicaid Services (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. The Company has produced documents, information and witnesses to the Department of Justice in cooperation with a current review of the Company’s risk-adjustment processes, including the Company’s patient chart review and related programs. 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. The Company cannot reasonably estimate the range of loss, if any, that may result from any material government investigations, audits and reviews in which it is currently involved given the status of the reviews, the wide range of possible outcomes and inherent difficulty in predicting regulatory action, fines and penalties, if any, the Company’s legal and factual defenses and the various remedies and levels of judicial review available to the Company in the event of an adverse finding. Guaranty Fund Assessments Under state guaranty association laws, certain insurance companies can be assessed (up to prescribed limits) for certain obligations to the policyholders and claimants of impaired or insolvent insurance companies (including state health insurance cooperatives) that write the same line or similar lines of business. In 2009, the Pennsylvania Insurance Commissioner placed long term care insurer Penn Treaty Network America Insurance Company and its subsidiary (Penn Treaty), neither of which is affiliated with the Company, in rehabilitation and petitioned a state court for approval to liquidate Penn Treaty. In 2012, the court denied the liquidation petition and ordered the Insurance Commissioner to submit a rehabilitation plan. The court held a hearing in July 2015 to begin its consideration of the latest proposed rehabilitation plan. The hearing is scheduled to continue in 2016. If the current proposed rehabilitation plan, which contemplates the partial liquidation of Penn Treaty, is approved by the court, the Company’s insurance entities and other insurers may be required to pay a portion of Penn Treaty’s policyholder claims through state guaranty association assessments. The Company continues to vigorously challenge the proposed rehabilitation plan. The Company is currently unable to estimate losses or ranges of losses because the Company cannot predict when or to what extent Penn Treaty will ultimately be liquidated, the amount of the insolvency, the amount and timing of any associated guaranty fund assessments or the availability and amount of any premium tax and other potential offsets.

Segment Financial Information (Notes)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Financial Information [Text Block]

Segment Financial Information

The following table presents the reportable segment financial information:



			Optum
(in millions)	UnitedHealthcare		OptumHealth		OptumInsight		OptumRx		Optum Eliminations			Optum		Corporate and Eliminations			Consolidated
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
Three Months Ended March 31, 2015
Revenues - external customers:
Premiums	$	30,905	$	769	$	—	$	—	$	—		$	769	$	—		$	31,674
Products	—		5		20		1,205		—			1,230		—			1,230
Services	1,603		521		559		23		—			1,103		—			2,706
Total revenues - external customers	32,508		1,295		579		1,228		—			3,102		—			35,610
Total revenues - intersegment	—		1,963		811		7,067		(159		)	9,682		(9,682		)	—
Investment and other income	115		31		—		—		—			31		—			146
Total revenues	$	32,623	$	3,289	$	1,390	$	8,295	$	(159	)	$	12,815	$	(9,682	)	$	35,756
Earnings from operations	$	1,898	$	234	$	222	$	286	$	—		$	742	$	—		$	2,640
Interest expense	—		—		—		—		—			—		(150		)	(150		)
Earnings before income taxes	$	1,898	$	234	$	222	$	286	$	—		$	742	$	(150	)	$	2,490

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2016
Basis of presentation [Abstract]
Basis of Accounting, Policy [Policy Text Block]	1. Basis of Presentation 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 making 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. The Company offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides pharmacy care services and information and technology-enabled health services. 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” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 as filed with the SEC (2015 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 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. The accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K remain unchanged.
Reclassification, Policy [Policy Text Block]	Reclassification During the fourth quarter of 2015, the Company aligned its accounting policy to conform the presentation of certain pharmacy fulfillment costs related to an acquired OptumRx business. These costs are now included in medical costs and cost of products sold, whereas they were previously included in operating costs. Prior periods have been reclassified to conform to the current period presentation. The reclassification increased medical expenses by $101 million, decreased operating costs by $115 million and increased cost of products sold by $14 million for the three months ended March 31, 2015. The reclassification had no impact on total operating costs, earnings from operations, net earnings, earnings per share or total equity.
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. The Company is currently evaluating the effect of the new leasing guidance. 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. The Company is currently evaluating the effect of the new financial instruments guidance. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09) as modified by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” and ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing.” ASU 2014-09 will supersede 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. In addition, new and enhanced disclosures will be required. Companies may adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption at the original effective date, interim and annual periods beginning after December 15, 2016, will be permitted. The Company is currently evaluating the effect of the new revenue recognition guidance. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09). ASU 2016-09 modifies several aspects of the accounting for share-based payment awards, including income tax consequences, and classification on the statement of cash flows. The Company early adopted ASU 2016-09 in the first quarter of 2016. The provisions of ASU 2016-09 related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements and forfeitures were adopted using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of January 1, 2016. The provisions of ASU 2016-09 related to the recognition of excess tax benefits in the income statement and classification in the statement of cash flows were adopted prospectively and the prior periods were not retrospectively adjusted. The adoption of ASU 2016-09 did not materially impact the Company’s consolidated financial position, results of operations, equity or cash flows. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (ASU 2015-17). ASU 2015-17 requires entities to present deferred tax assets and deferred tax liabilities as noncurrent on the balance sheet. Prior to the issuance of ASU 2015-17, deferred taxes were required to be presented as a net current asset or liability and a net noncurrent asset or liability. The Company adopted ASU 2015-17 on a prospective basis in the first quarter of 2016 and the prior period was not retrospectively adjusted. The adoption of ASU 2015-17 did not impact the Company’s consolidated financial position, results of operations, equity or cash flows. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 requires debt issuance costs to be presented as a reduction of the carrying amount of the related debt liability. Prior to the issuance of ASU 2015-03, debt issuance costs were required to be presented as an asset in the balance sheet. The Company adopted ASU 2015-03 on a retrospective basis, as required, in the first quarter of 2016. The Company reclassified $129 million in debt issuance costs that were recorded in other assets on the Consolidated Balance Sheet as of December 31, 2015 to long-term debt, less current maturities.

Investments (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	2,318	$	13	$	(1	)	$	2,330
State and municipal obligations	6,233		180		(2		)	6,411
Corporate obligations	8,751		110		(30		)	8,831
U.S. agency mortgage-backed securities	2,488		28		(3		)	2,513
Non-U.S. agency mortgage-backed securities	958		17		(4		)	971
Total debt securities - available-for-sale	20,748		348		(40		)	21,056
Equity securities - available-for-sale	1,739		63		(53		)	1,749
Debt securities - held-to-maturity:
U.S. government and agency obligations	175		3		—			178
State and municipal obligations	7		—		—			7
Corporate obligations	326		—		—			326
Total debt securities - held-to-maturity	508		3		—			511
Total investments	$	22,995	$	414	$	(93	)	$	23,316
December 31, 2015
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,982	$	1	$	(6	)	$	1,977
State and municipal obligations	6,022		149		(3		)	6,168
Corporate obligations	7,446		41		(81		)	7,406
U.S. agency mortgage-backed securities	2,127		13		(16		)	2,124
Non-U.S. agency mortgage-backed securities	962		5		(11		)	956
Total debt securities - available-for-sale	18,539		209		(117		)	18,631
Equity securities - available-for-sale	1,638		58		(57		)	1,639
Debt securities - held-to-maturity:
U.S. government and agency obligations	163		1		—			164
State and municipal obligations	8		—		—			8
Corporate obligations	339		—		—			339
Total debt securities - held-to-maturity	510		1		—			511
Total investments	$	20,687	$	268	$	(174	)	$	20,781

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]



	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, 2016
Debt securities - available-for-sale:
U.S. government and agency obligations	$	507	$	(1	)	$	—	$	—		$	507	$	(1	)
State and municipal obligations	488		(2		)	—		—			488		(2		)
Corporate obligations	2,107		(22		)	337		(8		)	2,444		(30		)
U.S. agency mortgage-backed securities	—		—			214		(3		)	214		(3		)
Non-U.S. agency mortgage-backed securities	203		(1		)	145		(3		)	348		(4		)
Total debt securities - available-for-sale	$	3,305	$	(26	)	$	696	$	(14	)	$	4,001	$	(40	)
Equity securities - available-for-sale	$	98	$	(8	)	$	94	$	(45	)	$	192	$	(53	)
December 31, 2015
Debt securities - available-for-sale:
U.S. government and agency obligations	$	1,473	$	(6	)	$	—	$	—		$	1,473	$	(6	)
State and municipal obligations	650		(3		)	—		—			650		(3		)
Corporate obligations	4,629		(63		)	339		(18		)	4,968		(81		)
U.S. agency mortgage-backed securities	1,304		(12		)	116		(4		)	1,420		(16		)
Non-U.S. agency mortgage-backed securities	593		(7		)	127		(4		)	720		(11		)
Total debt securities - available-for-sale	$	8,649	$	(91	)	$	582	$	(26	)	$	9,231	$	(117	)
Equity securities - available-for-sale	$	112	$	(11	)	$	89	$	(46	)	$	201	$	(57	)

Net Realized Gains, Included in Investment and Other Income [Table Text Block]

Net realized gains reclassified out of accumulated other comprehensive income were from the following sources:



	Three Months Ended March 31,
(in millions)	2016			2015
Total other than temporary impairments recognized in earnings	$	(21	)	$	(1	)
Gross realized losses from sales	(31		)	(6		)
Gross realized gains from sales	87			10
Net realized gains (included in investment and other income on the Condensed Consolidated Statements of Operations)	35			3
Income tax effect (included in provision for income taxes on the Condensed Consolidated Statements of Operations)	(13		)	(1		)
Realized gains, net of taxes	$	22		$	2

Available-for-sale Securities [Member]

Investments by Contractual Maturity [Table Text Block]

The amortized cost and fair value of debt securities as of March 31, 2016, 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	$	2,534	$	2,539	$	128	$	128
Due after one year through five years	7,944		8,019		184		186
Due after five years through ten years	4,841		4,968		114		114
Due after ten years	1,983		2,046		82		83
U.S. agency mortgage-backed securities	2,488		2,513		—		—
Non-U.S. agency mortgage-backed securities	958		971		—		—
Total debt securities	$	20,748	$	21,056	$	508	$	511

Held-to-maturity Securities [Member]

Investments by Contractual Maturity [Table Text Block]

Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

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]



(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, 2016
Cash and cash equivalents	$	10,590		$	6		$	—		$	10,596
Debt securities - available-for-sale:
U.S. government and agency obligations	2,159			171			—			2,330
State and municipal obligations	—			6,411			—			6,411
Corporate obligations	8			8,725			98			8,831
U.S. agency mortgage-backed securities	—			2,513			—			2,513
Non-U.S. agency mortgage-backed securities	—			971			—			971
Total debt securities - available-for-sale	2,167			18,791			98			21,056
Equity securities - available-for-sale	1,344			15			390			1,749
Interest rate swap assets	—			245			—			245
Total assets at fair value	$	14,101		$	19,057		$	488		$	33,646
Percentage of total assets at fair value	42		%	57		%	1		%	100		%
December 31, 2015
Cash and cash equivalents	$	10,906		$	17		$	—		$	10,923
Debt securities - available-for-sale:
U.S. government and agency obligations	1,779			198			—			1,977
State and municipal obligations	—			6,168			—			6,168
Corporate obligations	5			7,308			93			7,406
U.S. agency mortgage-backed securities	—			2,124			—			2,124
Non-U.S. agency mortgage-backed securities	—			951			5			956
Total debt securities - available-for-sale	1,784			16,749			98			18,631
Equity securities - available-for-sale	1,223			14			402			1,639
Interest rate swap assets	—			93			—			93
Total assets at fair value	$	13,913		$	16,873		$	500		$	31,286
Percentage of total assets at fair value	44		%	54		%	2		%	100		%
Interest rate swap liabilities	$	—		$	11		$	—		$	11

Fair Value Measurements, Nonrecurring [Table Text Block]



(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, 2016
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	178	$	—	$	—	$	178	$	175
State and municipal obligations	—		—		7		7		7
Corporate obligations	87		11		228		326		326
Total debt securities - held-to-maturity	$	265	$	11	$	235	$	511	$	508
Other assets	$	—	$	477	$	—	$	477	$	478
Long-term debt and other financing obligations	$	—	$	32,605	$	—	$	32,605	$	30,020
December 31, 2015
Debt securities - held-to-maturity:
U.S. government and agency obligations	$	164	$	—	$	—	$	164	$	163
State and municipal obligations	—		—		8		8		8
Corporate obligations	91		10		238		339		339
Total debt securities - held-to-maturity	$	255	$	10	$	246	$	511	$	510
Other assets	$	—	$	493	$	—	$	493	$	500
Long-term debt and other financing obligations	$	—	$	29,455	$	—	$	29,455	$	27,978

Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Level 3 Inputs [Table Text Block]

A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows:



	March 31, 2016									March 31, 2015
(in millions)	Debt Securities			Equity Securities			Total			Debt Securities		Equity Securities			Total
Balance at beginning of period	$	98		$	402		$	500		$	74	$	310		$	384
Purchases	4			12			16			4		4			8
Sales	(7		)	(2		)	(9		)	—		(1		)	(1		)
Net unrealized gains (losses) in accumulated other comprehensive income	3			(6		)	(3		)	1		(5		)	(4		)
Net realized (losses) gains in investment and other income	—			(16		)	(16		)	—		1			1
Balance at end of period	$	98		$	390		$	488		$	79	$	309		$	388

Medicare Part D Pharmacy Benefits (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of Other Current Receivables and Other Policy Liabilities Associated with Medicare Part D Program [Table Text Block]

The Condensed Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program:



	March 31, 2016						December 31, 2015
(in millions)	Subsidies		Drug Discount		Risk-Share		Subsidies		Drug Discount		Risk-Share
Other current receivables	$	1,356	$	242	$	—	$	1,703	$	423	$	—
Other policy liabilities	—		34		527		—		58		496

Commercial Paper and Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2016

Debt Instrument [Line Items]

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

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



	March 31, 2016						December 31, 2015
(in millions, except percentages)	Par Value		Carrying Value		Fair Value		Par Value		Carrying Value (a)		Fair Value
Commercial paper	$	3,702	$	3,702	$	3,702	$	3,987	$	3,987	$	3,987
Floating rate term loan due July 2016	1,500		1,500		1,500		1,500		1,500		1,500
5.375% notes due March 2016	—		—		—		601		605		606
1.875% notes due November 2016	400		400		403		400		400		403
5.360% notes due November 2016	95		95		97		95		95		98
Floating rate notes due January 2017	750		749		751		750		749		751
6.000% notes due June 2017	441		455		467		441		458		469
1.450% notes due July 2017	750		749		754		750		749		750
1.400% notes due October 2017	625		624		627		625		624		624
6.000% notes due November 2017	156		162		168		156		162		168
1.400% notes due December 2017	750		751		753		750		751		748
6.000% notes due February 2018	1,100		1,112		1,194		1,100		1,114		1,196
1.900% notes due July 2018	1,500		1,495		1,523		1,500		1,494		1,505
1.700% notes due February 2019	750		747		756		—		—		—
1.625% notes due March 2019	500		502		504		500		502		494
2.300% notes due December 2019	500		509		508		500		499		502
2.700% notes due July 2020	1,500		1,494		1,558		1,500		1,493		1,516
3.875% notes due October 2020	450		464		487		450		452		476
4.700% notes due February 2021	400		424		452		400		413		438
2.125% notes due March 2021	750		744		757		—		—		—
3.375% notes due November 2021	500		516		534		500		500		517
2.875% notes due December 2021	750		778		779		750		753		760
2.875% notes due March 2022	1,100		1,097		1,140		1,100		1,059		1,099
3.350% notes due July 2022	1,000		994		1,064		1,000		994		1,023
0.000% notes due November 2022	15		11		12		15		10		11
2.750% notes due February 2023	625		635		636		625		611		613
2.875% notes due March 2023	750		810		770		750		781		742
3.750% notes due July 2025	2,000		1,985		2,155		2,000		1,985		2,062
3.100% notes due March 2026	1,000		994		1,023		—		—		—
4.625% notes due July 2035	1,000		991		1,116		1,000		991		1,038
5.800% notes due March 2036	850		837		1,081		850		838		1,003
6.500% notes due June 2037	500		491		674		500		492		628
6.625% notes due November 2037	650		640		896		650		641		829
6.875% notes due February 2038	1,100		1,074		1,544		1,100		1,076		1,439
5.700% notes due October 2040	300		295		377		300		296		348
5.950% notes due February 2041	350		345		454		350		345		416
4.625% notes due November 2041	600		588		669		600		588		609
4.375% notes due March 2042	502		483		540		502		483		493
3.950% notes due October 2042	625		606		629		625		606		582
4.250% notes due March 2043	750		733		790		750		734		728
4.750% notes due July 2045	2,000		1,971		2,293		2,000		1,971		2,107
Total commercial paper, term loan and long-term debt	$	33,586	$	33,552	$	36,137	$	31,972	$	31,801	$	33,278


(a)	In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03.

Segment Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Financial Information [Table Text Block]

The following table presents the reportable segment financial information:



			Optum
(in millions)	UnitedHealthcare		OptumHealth		OptumInsight		OptumRx		Optum Eliminations			Optum		Corporate and Eliminations			Consolidated
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
Three Months Ended March 31, 2015
Revenues - external customers:
Premiums	$	30,905	$	769	$	—	$	—	$	—		$	769	$	—		$	31,674
Products	—		5		20		1,205		—			1,230		—			1,230
Services	1,603		521		559		23		—			1,103		—			2,706
Total revenues - external customers	32,508		1,295		579		1,228		—			3,102		—			35,610
Total revenues - intersegment	—		1,963		811		7,067		(159		)	9,682		(9,682		)	—
Investment and other income	115		31		—		—		—			31		—			146
Total revenues	$	32,623	$	3,289	$	1,390	$	8,295	$	(159	)	$	12,815	$	(9,682	)	$	35,756
Earnings from operations	$	1,898	$	234	$	222	$	286	$	—		$	742	$	—		$	2,640
Interest expense	—		—		—		—		—			—		(150		)	(150		)
Earnings before income taxes	$	1,898	$	234	$	222	$	286	$	—		$	742	$	(150	)	$	2,490

Basis of Presentation Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Medical Costs [Member]
Prior Period Reclassification Adjustment		$ 101
Selling, General and Administrative Expenses [Member]
Prior Period Reclassification Adjustment		(115)
Cost of Goods, Total [Member]
Prior Period Reclassification Adjustment		$ 14
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method	Modified Retrospective
Accounting Standards Update 2015-17 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method	Prospective
Accounting Standards Update 2015-03 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method	Retrospective
Reclassification from Other Assets to Long-Term Debt, Less Current Maturities [Member] \| Accounting Standards Update 2015-03 [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 129

Investments (Narrative) (Details)	Mar. 31, 2016 positions
Investment [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	5,000
Total number of security positions	26,000

Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	$ 20,748	$ 18,539
Securities, Available for sale Debt Securities, Gross Unrealized Gains	348	209
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(40)	(117)
Available-for-sale Securities, Debt Securities	21,056	18,631
Available-for-sale Equity Securities, Amortized Cost Basis	1,739	1,638
Securities, Available for sale Equity Securities, Gross Unrealized Gains	63	58
Securities, Available for sale Equity Securities, Gross Unrealized Losses	(53)	(57)
Available-for-sale Securities, Equity Securities	1,749	1,639
Held-to-maturity securities, Amortized Cost	508	510
Securities, Held to maturity, Unrecognized Holding Gain	3	1
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss	0	0
Held-to-maturity Securities, Fair Value	511	511
Total investments, Amortized Cost	22,995	20,687
Total investments, Gross Unrealized Gains	414	268
Total investments, Gross Unrealized Losses	(93)	(174)
Investments, Fair Value Disclosure	23,316	20,781
Debt Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Securities, Debt Securities	21,056	18,631
U.S. Government and Agency Obligations [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	2,318	1,982
Securities, Available for sale Debt Securities, Gross Unrealized Gains	13	1
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(1)	(6)
Available-for-sale Securities, Debt Securities	2,330	1,977
Held-to-maturity securities, Amortized Cost	175	163
Securities, Held to maturity, Unrecognized Holding Gain	3	1
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss	0	0
Held-to-maturity Securities, Fair Value	178	164
State and Municipal Obligations [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	6,233	6,022
Securities, Available for sale Debt Securities, Gross Unrealized Gains	180	149
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(2)	(3)
Available-for-sale Securities, Debt Securities	6,411	6,168
Held-to-maturity securities, Amortized Cost	7	8
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	7	8
Corporate Obligations [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	8,751	7,446
Securities, Available for sale Debt Securities, Gross Unrealized Gains	110	41
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(30)	(81)
Available-for-sale Securities, Debt Securities	8,831	7,406
Held-to-maturity securities, Amortized Cost	326	339
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	326	339
U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	2,488	2,127
Securities, Available for sale Debt Securities, Gross Unrealized Gains	28	13
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(3)	(16)
Available-for-sale Securities, Debt Securities	2,513	2,124
Non-U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	958	962
Securities, Available for sale Debt Securities, Gross Unrealized Gains	17	5
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	(4)	(11)
Available-for-sale Securities, Debt Securities	$ 971	$ 956

Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Available-for-sale, Debt Maturities, Due in one year or less, Amortized Cost	$ 2,534
Available-for-sale, Debt Maturities, Due in one year or less, Fair Value	2,539
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount	128
Held-to-maturity Securities, Debt Maturities, within one year, Fair Value	128
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis	7,944
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value	8,019
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Net Carrying Amount	184
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value	186
Available-for-sale Securities, Debt Maturities, Due after five years through ten years, Amortized Cost	4,841
Available-for-sale Securities, Debt Maturities, Due after five years through ten years, Fair Value	4,968
Held-to-maturity Securities, Debt Maturities, due after five years through ten years, Net Carrying Amount	114
Held-to-maturity Securities, Debt Maturities, due after five years through ten years, Fair Value	114
Available-for-sale Securities, Debt Maturities, Due after ten years, Amortized Cost	1,983
Available-for-sale Securities, Debt Maturities, Due after ten years, Fair Value	2,046
Held-to-maturity Securities, Debt Maturities, after ten years, Net Carrying Amount	82
Held-to-maturity Securities, Debt Maturities, after ten years, Fair Value	83
Available-for-sale Debt Securities, Amortized Cost Basis	20,748	$ 18,539
Available-for-sale Securities, Debt Securities	21,056	18,631
Held-to-maturity Securities	508	510
Held-to-maturity Securities, Fair Value	511	511
U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Mortgage-backed securities, Amortized Cost	2,488
Mortgage-backed securities, Fair Value	2,513
Available-for-sale Debt Securities, Amortized Cost Basis	2,488	2,127
Available-for-sale Securities, Debt Securities	2,513	2,124
Non-U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Mortgage-backed securities, Amortized Cost	958
Mortgage-backed securities, Fair Value	971
Available-for-sale Debt Securities, Amortized Cost Basis	958	962
Available-for-sale Securities, Debt Securities	$ 971	$ 956

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, 2016	Dec. 31, 2015
Debt Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	$ 3,305	$ 8,649
Less Than 12 Months, Gross Unrealized Losses	(26)	(91)
Greater Than 12 Months, Fair Value	696	582
Greater Than 12 Months, Gross Unrealized Losses	(14)	(26)
Total, Fair Value	4,001	9,231
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(40)	(117)
U.S. Government and Agency Obligations [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	507	1,473
Less Than 12 Months, Gross Unrealized Losses	(1)	(6)
Total, Fair Value	507	1,473
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(1)	(6)
State and Municipal Obligations [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	488	650
Less Than 12 Months, Gross Unrealized Losses	(2)	(3)
Total, Fair Value	488	650
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(2)	(3)
Corporate Obligations [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	2,107	4,629
Less Than 12 Months, Gross Unrealized Losses	(22)	(63)
Greater Than 12 Months, Fair Value	337	339
Greater Than 12 Months, Gross Unrealized Losses	(8)	(18)
Total, Fair Value	2,444	4,968
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(30)	(81)
U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value		1,304
Less Than 12 Months, Gross Unrealized Losses		(12)
Greater Than 12 Months, Fair Value	214	116
Greater Than 12 Months, Gross Unrealized Losses	(3)	(4)
Total, Fair Value	214	1,420
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(3)	(16)
Non-U.S. Agency Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	203	593
Less Than 12 Months, Gross Unrealized Losses	(1)	(7)
Greater Than 12 Months, Fair Value	145	127
Greater Than 12 Months, Gross Unrealized Losses	(3)	(4)
Total, Fair Value	348	720
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	(4)	(11)
Equity Securities [Member]
Schedule of Investments [Line Items]
Less Than 12 Months, Fair Value	98	112
Less Than 12 Months, Gross Unrealized Losses	(8)	(11)
Greater Than 12 Months, Fair Value	94	89
Greater Than 12 Months, Gross Unrealized Losses	(45)	(46)
Total, Fair Value	192	201
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ (53)	$ (57)

Investments (Net Realized Gains) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations)	$ (1,074)	$ (1,077)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Schedule of Available-for-sale Securities [Line Items]
Total other than temporary impairment (OTTI) recognized in earnings	(21)	(1)
Gross realized losses from sales	(31)	(6)
Gross realized gains from sales	87	10
Net realized gains (included in investment and other income on the Consolidated Statements of Operations)	35	3
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations)	(13)	(1)
Realized gains, net of taxes	$ 22	$ 2

Fair Value (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Fair Value (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015
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

Fair Value (Financial Assets and Liabilities, Excluding AARP, Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 10,596	$ 10,923
Available-for-sale Securities, Debt Securities	21,056	18,631
Available-for-sale Securities, Equity Securities	1,749	1,639
Interest rate swap assets	245	93
Total assets at fair value	$ 33,646	$ 31,286
Percentage of total assets at fair value	100.00%	100.00%
Interest rate swap liabilities		$ 11
Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	$ 21,056	18,631
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	2,330	1,977
State and Municipal Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	6,411	6,168
Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Debt Securities	8,831	7,406
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	2,513	2,124
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	971	956
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	10,590	10,906
Available-for-sale Securities, Equity Securities	1,344	1,223
Interest rate swap assets	0	0
Total assets at fair value	$ 14,101	$ 13,913
Percentage of total assets at fair value	42.00%	44.00%
Interest rate swap liabilities		$ 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	$ 2,167	1,784
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	2,159	1,779
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	8	5
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	6	17
Available-for-sale Securities, Equity Securities	15	14
Interest rate swap assets	245	93
Total assets at fair value	$ 19,057	$ 16,873
Percentage of total assets at fair value	57.00%	54.00%
Interest rate swap liabilities		$ 11
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	$ 18,791	16,749
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	171	198
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	6,411	6,168
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	8,725	7,308
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	2,513	2,124
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	971	951
Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Available-for-sale Securities, Equity Securities	390	402
Interest rate swap assets	0	0
Total assets at fair value	$ 488	$ 500
Percentage of total assets at fair value	1.00%	2.00%
Interest rate swap liabilities		$ 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	$ 98	98
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	98	93
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	$ 5

Fair Value (Financial Assets and Liabilities, Excluding AARP, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions

Mar. 31, 2016

Dec. 31, 2015

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

Debt securities - held-to-maturity

$ 508

$ 510

Held-to-maturity Securities, Fair Value

511

Debt Instrument, Fair Value Disclosure

36,137

33,278

Carrying Value

33,552

31,801

^[1]

Fair Value, Measurements, Nonrecurring [Member]

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

Held-to-maturity Securities, Fair Value

511

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

265

255

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

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

235

246

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

178

164

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

178

164

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

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

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

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

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

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

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

326

339

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

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

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

228

238

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 Instrument, Fair Value Disclosure

32,605

29,455

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 Instrument, Fair Value Disclosure

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 Instrument, Fair Value Disclosure

32,605

29,455

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 Instrument, Fair Value Disclosure

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

477

493

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

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

477

493

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

Carrying (Reported) Amount, Fair Value Disclosure [Member]

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

Debt securities - held-to-maturity

508

510

Carrying (Reported) Amount, Fair Value Disclosure [Member] | U.S. Government and Agency Obligations [Member]

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

Debt securities - held-to-maturity

175

163

Carrying (Reported) Amount, Fair Value Disclosure [Member] | State and Municipal Obligations [Member]

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

Debt securities - held-to-maturity

Carrying (Reported) Amount, Fair Value Disclosure [Member] | Corporate Obligations [Member]

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

Debt securities - held-to-maturity

326

339

Carrying (Reported) Amount, Fair Value Disclosure [Member] | Long-term debt and other financing obligations

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

Carrying Value

30,020

27,978

Carrying (Reported) Amount, Fair Value Disclosure [Member] | Other Assets [Member]

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

Other Assets, Fair Value Disclosure

$ 478

$ 500

[1]	(a)In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03.

Fair Value (Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Level 3 Inputs) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 500	$ 384
Purchases	16	8
Sales	(9)	(1)
Net unrealized gains (losses) in accumulated other comprehensive income	(3)	(4)
Net realized (losses) gains in investment and other income	(16)	1
Balance at end of period	488	388
Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	98	74
Purchases	4	4
Sales	(7)	0
Net unrealized gains (losses) in accumulated other comprehensive income	3	1
Net realized (losses) gains in investment and other income	0	0
Balance at end of period	98	79
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	402	310
Purchases	12	4
Sales	(2)	(1)
Net unrealized gains (losses) in accumulated other comprehensive income	(6)	(5)
Net realized (losses) gains in investment and other income	(16)	1
Balance at end of period	$ 390	$ 309

Medicare Part D Pharmacy Benefits Schedule of Receivables and Payables (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other current receivables	$ 6,865	$ 6,801
Other policy liabilities	8,317	7,798
CMS Subsidies [Member]
Other current receivables	1,356	1,703
Other policy liabilities	0	0
Drug Discount [Member]
Other current receivables	242	423
Other policy liabilities	34	58
Risk-Share [Member]
Other current receivables	0	0
Other policy liabilities	$ 527	$ 496

Other Current Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current receivables	$ 6,865	$ 6,801
PharmaceuticalManufacturerRebatesReceivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current receivables	$ 2,800	$ 2,600

Medical Costs Reserve Development (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Liability for Claims and Claims Adjustment Expense [Line Items]
Related to Prior Years	$ (360)	$ (140)

Commercial Paper and Long-Term Debt (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016 USD ($) banks	Dec. 31, 2015 USD ($)
Commercial Paper [Member]
Debt Instrument [Line Items]
Short-term Debt, Weighted Average Interest Rate	0.70%
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
Number Of Years Of Revolving Bank Credit	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	1.20%
Five Year $3.0 Billion Credit Facility [Member] \| Maximum [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	1.70%
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
Number Of Years Of Revolving Bank Credit	3
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	1.20%
Three Year 2.0 Billion Credit Facility [Member] \| Maximum [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	1.70%
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
Credit Facility, Number of Days	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	1.20%
364 Day $1.0 Billion Credit Facility [Member] \| Maximum [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	1.70%
Subsidiaries [Member]
Debt Instrument [Line Items]
Other Long-term Debt	$ 170	$ 164
Other Long-term Debt, Current	$ 58	$ 47

Commercial Paper and Long-Term Debt (Details) - USD ($)
$ in Millions

Mar. 31, 2016

Dec. 31, 2015

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, 2016
Loss Contingency [Line Items]
Estimated Largest Aggregate Penalty 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

Segment Financial Information (Narrative) (Details)	3 Months Ended
Segment Financial Information (Narrative) (Details)	Mar. 31, 2016
Statement [Line Items]
Number of Reportable Segments	4