FILE PHOTO: A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/Illustration/File PhotoThe hack at UnitedHealth's tech unit has led to uncertainty around when high medical costs for health insurers will subside as the cyberattack leads to prolonged delays processing insurance claims, Wall Street analysts said.
"There could be effects on cash flow and more uncertainty around medical utilization estimates going forward," said Morningstar analyst Julie Utterback. Shares of UnitedHealth and rivals have been under pressure since late November, when the industry bellwether said a late-year increase in medical care among older adults had led to elevated medical costs.
UnitedHealth has said hackers who identified themselves as the"Blackcat" hacking gang perpetrated the attack.