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UnitedHealth reported a third-quarter profit on Friday ahead of analysts' estimates, helped by a lower-than-feared rise in medical costs at the company's health insurance unit. UnitedHealth's profit beat and slight raise in annual forecast set the stage for other insurers in the industry that suffered a nearly $60-billion wipeout in market value in June, on fears of a spike in medical costs. Medical costs for health insurers have stayed low in recent years as the pandemic and related restrictions caused extended delays in elective procedures such as hip and knee replacements, especially among older adults at higher risk of serious disease or death from COVID-19.

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