UnitedHealth Group Inc. promoted the head of its Medicare health plans business to lead the company’s broader insurance division, filling the position previously held by slain executive Brian Thompson.
Tim Noel, who most recently was chief executive of UnitedHealth’s Medicare division, will become CEO of the UnitedHealthcare business, the company said in an emailed statement.
Thompson was fatally shot in New York outside the company’s investor conference last month. The killing sparked days of manhunts and raised security concerns in the business community. The outrage about health insurance practices that followed the shooting has increased scrutiny on UnitedHealth and its rivals.
Noel will take over the company’s largest segment by revenue, with sales of $298 billion in 2024 and operating profit of $15.6 billion.
UnitedHealthcare’s Medicare unit leads revenue under Noel’s leadership
The Medicare unit is the largest of UnitedHealthcare’s three major insurance business lines by revenue, accounting for nearly half of total revenue last year. UnitedHealth is the largest seller of private Medicare Advantage plans, which cover more than half of Americans in the federal program for seniors and people with disabilities. It has been a significant driver of the industry’s growth, though stricter federal payment policies have squeezed insurers’ profits in recent years.
Noel joined the company in 2007 and has led the Medicare business since 2021, according to a memo announcing the promotion by UnitedHealth CEO Andrew Witty, seen by Bloomberg News. He held a number of finance and operational jobs to become “one of the foremost experts on the intricacies and complexities of America’s health care system,” Witty wrote.
