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Headquarters:
9900 Bren Road East
Minnetonka, MN 55343
Employees: 70,000
CEO: Stephen Hemsley
Stock Symbol: UNH
Website:
http://www.unitedhealthgroup.com
Company News
Career Site
UnitedHealth Group is the nation's largest provider of healthcare insurance and services serving 70 million Americans in all 50 states and internationally.
Through its six business segments - UnitedHealthcare,
Ovations, AmeriChoice, Uniprise, Specialized Care Services and
Ingenix - UnitedHealth Group serves the entire spectrum of health
care participants: individual consumers, employers, governments,
commercial payers and intermediaries, care providers ranging
from hospitals to physicians, and pharmaceutical and medical
device manufacturers.
The company operates in all 50 states and
internationally.
In 2006, United Healthcare reported revenue
of $71.5 billion and net income of $4.1 billion.
History
In 1974, Charter Med Incorporated is founded
by a group of physicians and other health care professionals
who want to expand health coverage options for consumers.
United HealthCare Corporation is created
in 1977 and acquires Charter Med Incorporated. The company goes
public in 1984.
United Health acquired Pacificare Health
Systems in 2005.
Benefits
Full-time employees who earn $35,000 or
less receive a $20 credit per pay period to pay for benefits.
Employees over $35,000 get $10 per pay period. This credit can
be used to pay for healthcare premiums or received in cash instead.
The company also provides basic life insurance
and short- and long-term disability.
401(k) Plan
UnitedHealth Group's 401(k) offers participants immediate eligibility,
12 investment funds, a brokerage option, daily valuation, and
an award-winning Web site. You are automatically enrolled in
the Plan at 3% beginning on the first day of employment. If you
prefer, you may opt out of the Plan on or before your first day
of work. You are eligible to contribute from 1% to 50% (up to
the IRS maximum) of your annual salary. When you reach your one-year
anniversary with UnitedHealth Group, you become eligible for
the 50-cent company match ($.50 for each $1.00 you contribute,
up to the first 6% of your eligible compensation). You are fully
vested in the company-matched contributions after only two years
of service. If you are age 50 or older by the end of the year
and are contributing the maximum allowed to the Plan, you may
defer extra dollars (up to the IRS maximum) into your 401(k)
in 2005.
Employee Stock Purchase Plan
Through the ESPP, all eligible employees have the opportunity
to purchase shares of UnitedHealth Group common stock at a discounted
price with after-tax contributions. Shares are purchased at 85%
of the lower of the stock's fair market price at the close of
business on the first or last day of the purchase period. There
are two six-month purchase periods every year: January 2-July
1 and July 2-January 1. Enrollment periods are held before each
purchase period. You may generally contribute between 1% to 10%
of your base salary each payday during the semi-annual ESPP purchase
periods (up to a maximum annual limit of $21,250).
Paid Time Off
Employees receive a set amount of days which can be used as personal
days, sick days or vacation. For workers in Grades 20-24, they
receive 18 days if they have less than 5 years of service, 23
days with 5-9 years of service and 28 days for 10+ years experience.
For workers in Grades 25-32, they receive 23 days with less than
5 years of service, 28 days with 5-9 years of service and 28
days for 10+ years of service.
The company generally recognizes eight
holidays per year.
Updated December 29, 2008
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