What UnitedHealth Group Incorporated told the SEC could break it.

UnitedHealth's businesses are subject to comprehensive and discretionary U.S. federal, state and international laws and regulations (HIPAA, anti-kickback, false claims, DEA/FDA/Boards of Pharmacy for Optum Rx, Utah banking regulation for Optum Bank), where agencies can issue and enforce rules that materially affect operations.

“Our businesses are subject to comprehensive U.S. federal and state and international laws and regulations. We are regulated by government agencies, which generally have discretion to issue regulations and interpret and enforce laws and regulations.”

UnitedHealth processes, stores and transmits large volumes of protected personal information (some outside the U.S.) and is regularly the target of attempted cyberattacks, having previously been and potentially in future subject to IT-system compromises.

“We are regularly the target of attempted cyberattacks and other security threats and have previously been, and may in the future be, subject to compromises of the information technology syst”

Through its risk-based benefit products, UnitedHealth assumes the risk of members' medical and administrative costs for fixed monthly premiums; profitability depends heavily on its ability to predict, price for and manage medical costs.

“Through our risk-based benefit products, we assume the risk of both medical and administrative costs for our customers in return for monthly premiums. The profitability of our products depends in large part on our ability to predict and effectively price for and manage medical costs.”