UnitedHealth estimates $1.6 billion loss from Change cyberattack

UnitedHealth Group Inc. expects the cyberattack on its Change Healthcare unit to cost up to $1.6 billion this year, but maintains its 2024 earnings forecast, Reuters reports. Despite the hack, the health care conglomerate beat Q1 earnings estimates as medical costs dropped, boosting its shares by 5.3%. UnitedHealth has provided over $6 billion in advance funding to certain health care providers and expects Change to return to baseline performance next year.