United Healthcare 2002 Annual Report Download - page 40

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UnitedHealth Group
CAUTIONARY STATEMENT REGARDING “FORWARD-LOOKING” STATEMENTS
The statements contained in Results of Operations and other sections of this annual report to shareholders
include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995 (PSLRA). When used in this report, the words and phrases “believes,” “anticipates,” “intends,” “will
likely result,” “estimates,” “projects” and similar expressions are intended to identify such forward-looking
statements. Any of these forward-looking statements involve risks and uncertainties that may cause the
company’s actual results to differ materially from the results discussed in the forward-looking statements.
Statements that are not strictly historical are “forward-looking” and known and unknown risks may cause
actual results and corporate developments to differ materially from those expected. Except to the extent
otherwise required by federal securities laws, we do not undertake to address or update each statement in
future filings or communications regarding our business or results, and do not undertake to address how any
of these factors may have caused results to differ from discussions or information contained in previous filings
or communications. In addition, any of the matters discussed in this annual report may have affected our past
as well as current forward-looking statements about future results. Any or all forward-looking statements in this
report and in any other public statements we make may turn out to be inaccurate or false. They can be affected
by inaccurate assumptions we might make or by known or unknown risks and uncertainties.
Many factors discussed below will be important in determining future results. Consequently, no
forward-looking statement can be guaranteed. Actual future results may vary materially from those
expressed in our prior communications. Factors that could cause results and developments to differ
materially from expectations include, without limitation, (a) increases in medical costs that are higher
than we anticipated in establishing our premium rates, including increased consumption of or costs of
medical services; (b) increases in costs associated with increased litigation, legislative activity and
government regulation and review of our industry, including costs associated with compliance with
proposed legislation related to the Patients’ Bill of Rights, e-commerce activities and consumer privacy
issues; (c) heightened competition as a result of new entrants into our market, mergers and acquisitions
of health care companies and suppliers, and expansion of physician or practice management companies;
(d) failure to maintain effective and efficient information systems, which could result in the loss of
existing customers, difficulties in attracting new customers, difficulties in determining medical costs
estimates and establishing appropriate pricing, customer and physician and health care provider
disputes, regulatory violations, increases in operating costs or other adverse consequences; (e) events
that may negatively affect our contract with AARP, including any failure on our part to service AARP
customers in an effective manner and any adverse events that directly affect AARP or its business
partners; (f) medical cost increases or benefit changes associated with our remaining Medicare+Choice
operations; (g) significant deterioration in customer retention; (h) violations of debt covenants or a
significant downgrade in our debt ratings; (i) our ability to execute contracts on favorable terms with
physicians, hospitals and other service providers, and (j) significant deterioration in economic conditions,
including the effects of acts of terrorism, particularly bioterrorism, or major epidemics. A further list and
description of these risks, uncertainties and other matters can be found in our annual report on Form 10-K
for the year ended December 31, 2002, and in our periodic reports on Forms 10-Q and 8-K.