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EXHIBIT 23(d)
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[logo of Cain Brothers & Company, LLC]
CONSENT OF CAIN BROTHERS & COMPANY, LLC
We hereby consent to the summaries in this registration statement on Form S-4 of
UnitedHealth Group Incorporated of our views as to the value of the stock owned
by Virginia's Physician Network, Inc. in United Healthcare of Virginia, Inc., as
set forth in the sections of the registration statement entitled "Risk
Factors--Absence of Investment Banker's Opinion", and "VPN's Reasons for the
Proposed Transaction and Board of Directors Recommendation".
New York, New York CAIN BROTHERS & COMPANY, LLC
Dated: January 11, 2001
By: /s/ Daniel M. Cain
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Title: President/CEO
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Date: January 11, 2001
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