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J. Pat Carter / AP

UnitedHealth Group soundly blew past Wall Street's second-quarter financial expectations. Profit in the quarter jumped 34% year over year to nearly $2.4 billion, and revenue increased 8% to $50 billion, the company announced in today's earnings report. Executives were most excited about the Medicare Advantage business — which just extended its lucrative branding deal with AARP and is UnitedHealth's largest individual insurance segment, but also faces fraud allegations.

Between the lines: Expect similarly robust results from other large health insurers. Fewer people are going to the hospital or filling their drug prescriptions, which means more money stays in the pocket of insurers like UnitedHealth. But that's not necessarily translating to lower insurance premiums.

Go deeper: UnitedHealth is just as much a services company through Optum as it is an insurer. Its tentacles could stretch even further over the health care system if it acquires Advisory Board Company, a consulting firm that works a lot with hospitals.

Go deeper

FBI director: Jan. 6 Capitol attack was domestic terrorism

The FBI views the Jan. 6 Capitol siege as an act of domestic terrorism, director Christopher Wray testified in his opening statement Tuesday before the Senate Judiciary Committee.

Why it matters: The FBI's designation of the attack as domestic terrorism puts the perpetrators "on the same level with ISIS and homegrown violent extremists," Wray said.

Sen. Martin Heinrich to introduce plan for Puerto Rico statehood

U.S. Sen. Martin Heinrich (D-N.M.) at a hearing on Feb. 23, 2021 in Washington, D.C. PHOTO: Jim Watson-Pool/Getty Images

U.S. Sen. Martin Heinrich (D-N.M.) and Rep. Darren Soto (D-Fla.) announced Tuesday they would introduce legislation to start the motions for Puerto Rico statehood.

Why it matters: More than 52% of Puerto Ricans voted last November in favor of statehood, three years after Hurricane Maria struck the island and caused one of the worst natural disasters in recorded history. It exposed the island's vulnerable position as a U.S. territory and its lack of resources to battle poverty.

J&J and Merck to partner for COVID vaccine production to boost supply

Empty vials that contained a dose of the Johnson & Johnson vaccine against the COVID-19. Photo: Phill Magakoe/AFP via Getty Images

President Biden will announce Tuesday that pharmaceutical giant Merck will help Johnson & Johnson manufacture its newly authorized coronavirus vaccine to boost supply, a senior administration official tells Axios.

The big picture: The development has the potential to vastly increase supply, possibly doubling what the J&J could make on its own, the official said. The company has run into challenges while trying to expand its vaccine production to a global scale.