UnitedHealth Group is a private health insurance provider in the United States, offering medical benefits to nearly 50 million members across its United States-based and international businesses. As a provider of employer-sponsored, self-directed, and government-backed insurance plans, UnitedHealth has scale in managed care. Along with its insurance assets, UnitedHealth's continued investments in its Optum franchises have created a healthcare services company that spans everything from medical and pharmaceutical benefits to providing outpatient care and analytics to both affiliated and third-party customers.
Originally founded in 1974 as Charter Med Incorporated, UnitedHealth Group reorganized in 1977 as United HealthCare Corporation. From there the company continued to reorganize its structure after acquiring competing healthcare providers, including PatientsLikeMe in June of 2019.
Besides their insurance activities, UnitedHealth Group is sub-divided into two divisions. These divisions are UnitedHealthcare and Optum.
The Optum brand was created in 2011 as UnitedHealth Group's health services and technology-focused division. This has seen Optum further sub-divided into three separate sectors:
- OptumRx - a mail-order pharmacy
- OptumHealth - an operator of a health savings account
- OptumInsight - a payment processor for healthcare providers
UnitedHealthcare is a provider of health benefits and programs. In FY 2018, UnitedHealthcare provided about 80 percent of UnitedHealth Group's revenue. UnitedHealthcare is further broken into four sub-divisions:
- UnitedHealthcare Employer and Individual - provides health benefit plans and services for national employers
- UnitedHealthcare Medicare and Retirement - provides health and well-being services to individuals age 65 and older
- UnitedHealthcare Community and State - provides benefits for state programs that care for the economically disadvantaged, the medically underserved, and people without employer-funded health care coverage
- UnitedHealthcare Global - provides medical benefits in over 130 countries, with the principle region including Brazil, Chile, Colombia, and Peru
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What is UnitedHealth Group?