Despite losing tens of thousands of enrollees in its commercial and Medicaid plans, managed care company UnitedHealth Group Inc. (NYSE:UNH) reported $113 billion in revenue, up 12% year-over-year, and a profit of $4.3 billion during its third quarter results this week.

According to healthcare reform advocate Wendell Potter, this was driven in large part by premium hikes and increased payments from federal programs.

UNH is feeling the pressure from bearish momentum. Get the complete picture here.

Fueled By The ‘Generosity’ of Uncle Sam

In his Healthcare Un-Covered newsletter on Wednesday, Potter said that “if it were not for the incredible generosity of Uncle Sam, UnitedHealth would be a far, far smaller and less profitable company.”

He said that fewer than 20% of UnitedHealthcare's U.S. health plan members are enrolled in Medicare Advantage, just 8.4 million out of 45.8 million. The company, however, received $43.4 billion from the ...