UnitedHealth recently announced that files containing personal information from a significant number of people in America may have been compromised in a cyberattack earlier this year on its Change Healthcare business. The company stated that it has not seen any evidence of full medical histories or doctor charts being released, but it may take some time to identify and notify those affected by the breach. While some screenshots containing protected health information were posted online on the dark web for a week, UnitedHealth is actively monitoring for any additional file publications and has set up a website and call center to address questions.
As a response to the cyberattack, UnitedHealth is offering free credit monitoring and identity theft protection to individuals affected by the breach. The company acquired Change Healthcare for around $8 billion in 2022, overcoming a challenge from federal regulators who were concerned about the impact on competition and the consolidation of health care claims information in one company. In February, UnitedHealth revealed that a ransomware group had infiltrated some systems of its Change Healthcare business, causing disruption to payment and claims processing across the country and putting stress on health care providers.
The attack has prompted federal civil rights investigators to examine whether protected health information was compromised during the breach. UnitedHealth has been focused on restoring services that impact patient access to care or medication, with pharmacy services and medical claims processing returning to near normal levels. Despite facing an $872 million hit in the first quarter due to the cyberattack, the company has provided over $6 billion in advance funding and interest-free loans to help affected health care providers. UnitedHealth anticipates potential costs from the cyberattack to exceed $1.5 billion for the year, highlighting the significant financial impact of the breach.
UnitedHealth Group Inc., based in Minnetonka, Minnesota, operates as one of the largest health insurers in the nation, in addition to providing pharmacy benefits management services, care services, and technology solutions. While the company continues to restore services and address the aftermath of the cyberattack, its stock price has experienced a slight decline following the announcement of the breach. With broader indexes climbing, UnitedHealth is navigating the challenges posed by the cyberattack while striving to ensure the security and protection of individuals’ personal information in the future.
