UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota. It offers health care products and insurance services. UnitedHealth Group is the world's seventh largest company by revenue and the largest healthcare company by revenue and the largest insurance company by net premiums.
In 1974, Richard Taylor Burke founded Charter Med Incorporated, a Minnesota-based privately held company. In 1977, the United HealthCare Corporation was created to reorganize the company and became the parent company of Charter Med.
UnitedHealth Group has two distinct business platforms: Optum and UnitedHealthcare.
The Optum brand was created in 2011 as the company's health services business. Optum is UnitedHealth's technology-focused arm. This division also runs the staffed physical care delivery organizations throughout the United States under various brands as a part of the OptumHealth brand.
UnitedHealthcare includes four divisions:
- UnitedHealthcare Employer and Individual - provides health benefit plans and services for large national employers
- UnitedHealthcare Medicare and Retirement - provides health and well-being services to individuals age 65 and older.
- UnitedHealthcare Community and State - serves state programs that care for the economically disadvantaged, the medically underserved, and people without the benefit of employer-funded health care coverage, in exchange for a monthly premium per member from the state program.
- UnitedHealthcare Global - serves 6.2 million people with medical benefits, residing principally in Brazil, Chile, Colombia and Peru but also in more than 130 other countries.
In the 2022 Forbes Global 2000, UnitedHealth was ranked as the 22nd largest public company in the world.
According to Wikipedia; Forbes