United health care

The United health care coordinates health and well-being services on behalf of local employers and consumers nationwide. United Health care products are primarily marketed to small and medium-sized employers with up to 5,000 employees. As of December 31, 2002, this business served approximately 7.8 million individuals. With its risk-based product offerings, UnitedHealthcare assumes the risk of both medical and administrative costs for its customers in return for a monthly premium, which is typically at a fixed rate for a one-year period. UnitedHealthCare also provides administrative and other management services to customers that self-insure the medical costs of their employees and their dependents, for which UnitedHealthcare receives a fee.

United Health Group is a managed health care company. It is the parent of United Health care, the second largest health insurer in the United States. It was founded in 1977, as United Health Care Corporation. It renamed itself in 1998, but traces its origin to a firm it acquired in 1977, Charter Med Incorporated, which was founded in 1974. In 1979, it introduced the first network-based health plan for seniors. In 1984, it became a publicly business company. United Health care provides the products mainly Uniprise, Health Care Services, Specialized Care Services, and Ingenix. In 1995, the company acquired The MetraHealth Companies Inc. for $1.65 billion. MetraHealth was a privately held company formed by combining the group health care operations of The Travelers Insurance Company and Metropolitan Life Insurance Company.