| 2008-03-05 | Contract/Agreements | ALLENTOWN, Pa.--(BUSINESS WIRE)--Lehigh Valley business owners now have available to them a new suite of affordable, flexible health plan options under a partnership between UnitedHealthcare, a UnitedHealth Group company (NYSE: UNH), and Valley Preferred, a Lehigh Valley-based preferred provider organization and community partnership of doctors and hospitals.
Employers may choose from11 plan designswithin Valley Series plans Choice, Choice Plus and consumer-driven health (CDH) products including health savings accounts (HSAs) and health reimbursement accounts (HRAs). Through Valley Series, employees have the lowest overall out-of-pocket expenses when accessing 33 of the regions hospitals and more than 3,000 physicians and health care professionals featuring the Valley Preferred network. Enrollees may also realize out-of-pocket cost savings by seeking care within UnitedHealthcares Eastern Pennsylvania network, which includes an additional 46 hospitals and more than 12,000 physicians.
People also have the option of accessing any health care service provider within UnitedHealthcares national network of more than 560,000 physicians and other health care professionals and 4,800 hospitals. ChoicePlus and CDHproducts also offer an out-of-network option.
In addition, Valley Series offers disease management programs administered by UnitedHealthcare and Valley Preferred physicians for enrollees with chronic conditions including asthma, diabetes, hypertension and congestive heart failure. Also, Valley Series will adopt Valley Preferreds Care Beyond the Coverage, a corporate health-enhancement program that may be tailored to each employers needs and includes on-site health and wellness education, corporate health fairs, health seminars, employee assistance programs, health screenings and health awareness profiles.
This partnership with Valley Preferred means more choice and greater flexibility to area business owners who wish to offer affordable health care to their employees, said Thomas N. Pappas, CEO of UnitedHealthcare of Pennsylvania. The Valley Series gives employees more options and greater oversight over how they spend their health care dollars, while also providing access to a broad national network of health care professionals without referrals, covering preventive care services at 100 percent, and offering customized health and wellness programs.
As health care costs continue to rise, we must help people live healthier lives, and this responsibility lies with all of us consumers, medical professionals, health insurance providers and employers, said Gregory Kile, executive director and CEO of Valley Preferred. UnitedHealthcare understands that better overall community health can only be achieved by working closely with the medical community. Our disease management and wellness programs are an extension of what our physicians do for patients every day.
Tom Huntzinger, a manager with the general agency Emerson Reid, applauded the product launch. We are pleased that UnitedHealthcare will have a greater leadership presence in the Lehigh Valley area. A competitive health care marketplace ensures that we can provide employers with a broad choice of health care products and services at different price points to meet their needs.
Susan Sartoretto, director of UnitedHealthcares Lehigh Valley office, added: We believe the Valley Series is the first of its kind in this community. It reinforces our efforts to work closely with local physicians and other health care providers and to deliver more flexible health care coverage options for Lehigh Valley residents.
About Valley Preferred
Valley Preferred, Pennsylvanias leading provider-owned, preferred provider organization and community partnership of doctors and hospitals, links local businesses and individuals with contracted health insurance companies. Through its brands performance promise of Care Beyond the Coverage and corporate health enhancement progr |
| 2008-03-05 | Contract/Agreements | MINNEAPOLIS--(BUSINESS WIRE)--UnitedHealth Group (NYSE: UNH) and ICICI Lombard, Indias largest private general insurance company and second-largest health insurer, are partnering to provide ICICI Lombards policyholders traveling to the United States with access to UnitedHealthcares programs and services.
Through this initiative, any of ICICI Lombards 1.6 million policyholders traveling to the United States who are covered by the insurers Overseas Travel Insurance or Student Overseas Medical Insurance will have access to UnitedHealthcares Options preferred provider network as well as medical management and organized resources that align to their health needs, all of which help millions of people take charge of their health.
The partnership with ICICI Lombard illustrates the increasingly global nature of todays health care marketplace in which health companies are offering broader access to more innovative health care solutions for a more mobile population. UnitedHealth Groups growing global business is helping lead this trend by offering expatriate coverage for both U.S. and international foreign companies.
A recent independent study by SK&A Information Services, Inc., a leading provider of health care information solutions and research, found that U.S. physician offices accept UnitedHealthcare insurance more than any other plan.
Sudhir Menon, Head, Travel Insurance, ICICI Lombard, said: This partnership is an innovative benefit for Indians who are increasingly traveling abroad for both occupational and educational purposes. We are committed to continuously enhancing our service and value proposition, and we look forward to leveraging the assets of UnitedHealth Group to deliver the best in service and resources to our customers throughout their travels to the United States.
Ori Karev, CEO of UnitedHealth International, said: Our new partnership with ICICI Lombard is an important step in making access to cross-border health care more seamless for consumers, a model we are exploring in multiple markets. ICICI Lombard is an outstanding partner committed to enhancing the quality and access to health care for its members. We believe Indians traveling overseas will have peace of mind knowing that, when they visit the U.S., their health care needs will be met.
About ICICI Lombard General Insurance
ICICI Lombard is a 74:26 joint venture between ICICI Bank Limited, Indias second largest bank with $79 billion in assets and Fairfax Financial Holdings Limited, a Canada-based $26 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.
About UnitedHealth Group
UnitedHealth Group (www.unitedhealthgroup.com) is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves approximately 70 million individuals nationwide.
About UnitedHealth International
UnitedHealth International is the global arm of UnitedHealth Group (NYSE: UNH), one of the largest and most diverse health care companies in the United States. UnitedHealth International brings this wealth of experience, skills, tools and products to the rapidly changing global health care marketplace.
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| 2008-02-27 | Merger/Acquisition | A.M. Best Co. has commented that the financial strength ratings, issuer credit ratings and debt ratings of Humana Inc. (Humana) (Louisville, KY) (NYSE: HUM) and its insurance and health maintenance organization (HMO) subsidiaries remain unchanged. The outlook for all ratings is negative.
This follows the announcement that Humana has signed a definitive agreement to acquire the Medicare Advantage contract and related assets associated with the Las Vegas, NV individual SecureHorizons Medicare HMO business of UnitedHealth Group, Incorporated (UnitedHealth) (Minnetonka, MN) (NYSE:UNH). The transaction price is approximately $185 million, and Humana is expected to finance it with a combination of cash and debt. The transaction has been approved by the Department of Justice and is subject to regulatory approvals from the Centers for Medicare and Medicaid Services and the Nevada Division of Insurance.
This transaction will expand the geographic reach of Humanas Medicare business and is forecasted to increase Humanas Medicare Advantage membership by over 25,000. In 2006, Humana greatly expanded its Medicare Advantage product offerings and more than doubled its membership. Humana now serves over 1.1 million Medicare Advantage members nationwide. |
| 2008-02-26 | Contract/Agreements | LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana Inc. (NYSE: HUM) today announced it has signed a definitive agreement to purchase the Medicare Advantage contract and related assets associated with the Las Vegas, Nevada individual SecureHorizons Medicare Advantage HMO business of UnitedHealth Group (NYSE: UNH). The transaction has been approved by the Department of Justice and is subject to regulatory approvals from the Centers for Medicare and Medicaid Services and the Nevada Division of Insurance.
The transaction is forecast to increase Humanas Medicare Advantage HMO membership by over 25,000 with members primarily residing in Clark and Nye counties in Nevada. Nearly 70% of Nevadas Medicare eligibles are located in these two counties. UnitedHealth Group and Humana have agreed to work together to ensure a seamless transition of this Medicare business and will notify affected members as details become available. Humana and UnitedHealth Group emphasized that post-divestiture, these members will continue to see the same health care providers and receive the same benefits they currently have, and there will be no interruption in their health care coverage.
Humana is pleased to significantly expand our presence in Nevada by serving over 25,000 new Las Vegas-area members, said Stefen Brueckner, vice president of senior products for Humana. We are dedicated to engaging our health-care consumers through actionable information and guidance, and we look forward to welcoming these new members once this transaction is completed.
The transaction price of approximately $185 million in cash consideration is expected to be financed through a combination of cash and debt. Humana further commented that the transaction is not expected to significantly impact its guidance for 2008 diluted earnings per common share.
Humana Cautionary Statement
This news release contains statements and that are forward-looking. The forward-looking statements herein are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking items may be significantly impacted by certain risks and uncertainties described in the companys Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nations largest publicly traded health and supplemental benefits companies, with approximately 11.5 million medical members. Humana is a full-service benefits solutions company, offering a wide array of health and supplemental benefit plans for employer groups, government programs and individuals.
Over its 47-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the Investor Relations page of the companys web site at www.humana.com, including copies of:
Annual reports to stockholders; Securities and Exchange Commission filings; Most recent investor conference presentations; Quarterly earnings news releases; Replay of most recent earnings release conference calls; Calendar of events (includes upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors); Corporate Governance information. About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minnesota, UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves approx |
| 2008-02-21 | Earnings/Dividends | MINNEAPOLIS--(BUSINESS WIRE)--UnitedHealth Group (NYSE: UNH) announced today that its Board of Directors, at its regular meeting on February 19, 2008, authorized payment of an annual dividend to shareholders for 2008. The dividend, $0.03 per share, will be paid on April 16, 2008, to all shareholders of record of UnitedHealth Group common stock as of the close of business on April 2, 2008.
The company also paid a $0.03 per share dividend in 2007.
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves approximately 70 million individuals nationwide.
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| 2008-02-08 | Contract/Agreements | MINNEAPOLIS--(BUSINESS WIRE)--UnitedHealth Group (UHG) selects Minneapolis-based Harbinger Consulting Group (HCG) as their national Hyperion Essbase training provider for staff nationwide. Training sessions, which will occur over a 3 month period, will include approximately 250-275 participants from the United States and Canada.
HCG, a leader in Oracles Hyperion training will be conducting on-site training at UHGs Minneapolis, MN and Hartford, CT locations as well as distance learning to 14 states and Canada. The training is targeted to Hyperion end-users and power-users focusing on Essbase Spreadsheet Reporting, Advanced Reporting and Report Development.
The training provided by HCG will allow UnitedHealth Group staff to better utilize the Essbase platform that UHG has already invested in. Those attending the training will see an immediate increase in effectiveness and we are pleased to hear that students are already automating some key reporting processes, stated D.J. Hoelscher, Account Manager at HCG.
United Health Group has recently upgraded their Hyperion Essbase system to include more reporting features and options. Upon completion of the upgrade, UHG saw the impact that nationwide staff training could provide them in increased efficiency of reporting and daily processing.
Training is already underway at the Minneapolis, MN and Hartford, CT locations as well as web delivery nation wide. This class was taught very well. Our instructor kept our interest in the material and did a great job of keeping us all up to speed and involved, says UHG Financial Reporting Manager Susan Fields, I would recommend it to anyone interested in learning how to automate Essbase reports. I learned exactly what I needed!
About HCG
Harbinger Consulting Group is a leading provider of Oracles Hyperion Essbase training, consulting and software. Headquartered near Minneapolis, Minnesota, their Business Intelligence solutions enable companies to optimize business performance, including the ability to analyze data, budget, plan and forecast, generate reports and obtain maximum returns of their technology investments. For more information about HCG visit www.harbinger-group.com.
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealth Care, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves approximately 70 million individuals nationwide. For more information about UnitedHealth Group visit www.unitedhealthgroup.com.
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| 2008-01-22 | Earnings/Dividends | MINNEAPOLIS--(BUSINESS WIRE)--UnitedHealth Group (NYSE:UNH):
Full Year Adjusted Earnings Per Share of $3.501, Up 18% Fourth Quarter Earnings Per Share of $0.92; up 10% Full Year Adjusted Operating Margin of 10.6%1 Fourth Quarter Operating Margin of 10.9% Full Year Cash Flows of $5.9 Billion Fourth Quarter Cash Flows of $1.1 Billion Full Year Return on Equity of 22% Fourth Quarter Return on Equity of 24% UnitedHealth Group (NYSE:UNH) achieved record revenues and earnings in 2007. Revenues exceeded $75 billion and were supported by expanded operating margins and strong earnings growth.
Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, said, This was a year defined by strong earnings and financial performance, driven by improved service and operational execution, and accompanied by ongoing innovation to enhance health care. We continue to generate value through our balanced, diversified business strategy, which enables us to contribute meaningful improvements across the entire health care spectrum.
UnitedHealth Group(R)
Quarterly and Annual Financial Performance
Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2007
2007
2006
2007
2006
Revenues $18.71 billion $18.68 billion $18.13 billion $75.43 billion $71.54 billion Earnings From Operations $2.04 billion $2.16 billion $1.98 billion $8.03 billion1
$6.98 billion Operating Margin 10.9% 11.5% 10.9% 10.6%1 9.8% UnitedHealth Group Highlights
UnitedHealth Group reported growth in earnings from operations for all reporting segments in 2007. Fourth quarter results included growth in earnings from operations for Prescription Solutions, OptumHealth and Ingenix, while Health Care Services fourth quarter earnings from operations decreased modestly, as expected.
Consolidated revenues for full year 2007 increased $3.9 billion or 5 percent to $75.4 billion. Revenues for every reporting segment increased in 2007, with particularly notable growth in Prescription Solutions, Ingenix and AmeriChoice in Health Care Services. Fourth quarter revenues of $18.7 billion increased $577 million or 3 percent year-over-year and were stable sequentially. Full year adjusted earnings from operations of $8.0 billion advanced 15 percent over 2006 results. Each reporting segment increased its operating earnings by a double-digit percentage in 2007, led by Prescription Solutions, up 94 percent, and Ingenix, up 51 percent. Earnings from operations increased to $2.0 billion in the fourth quarter, up $57 million or 3 percent over the prior year, and down $117 million or 5 percent sequentially. This decline was entirely due to the seasonal decrease in Health Care Services fourth quarter results. Full year adjusted net earnings advanced to $4.766 billion1, up $607 million or 15 percent over 2006 results. Fourth quarter consolidated net earnings increased to $1.216 billion, up $41 million or 3 percent year-over-year, and decreased $67 million or 5 percent on a sequential quarter basis, as expected. The full year adjusted operating margin of 10.6 percent improved 80 basis points from 9.8 percent in 2006, driven by gains in both the medical care ratio and operating cost ratio. The consolidated fourth quarter operating margin of 10.9 percent was stable with the fourth quarter of 2006. Full year adjusted earnings of $3.50 per share1 increased 18 percent from $2.97 per share in 2006 driven by 15 percent growth in adjusted earnings from operations and a 3 percent reduction in diluted weighted average shares outstanding. Fourth quarter earnings per share of $0.92 increased 10 percent from $0.84 in the fourth quarter of 2006, and decreased 3 cents or 3 percent from the third quarter of 2007, as expected. Cash flows from operations were 126 percent of net earnings or $5.88 billion for the year, including $1.07 billion for the fourth quarter. The timing of state Medicaid program receivables collections, |
| 2008-01-11 | Merger/Acquisition | UnitedHealthcare, a UnitedHealth Group (NYSE:UNH) company, and Fiserv, Inc. (NASDAQ:FISV) announced today that they have completed the sale of substantially all of Fiservs health-related businesses to UnitedHealthcare. The transaction includes Fiserv Health, a leading administrator of medical benefits, Avidyn Health, a care facilitation business, and the Fiserv Health Specialty Solutions businesses. Fiserv Healths Pharmacy Benefits Management business (PBM) Innoviant is also part of the transaction.
Ken Burdick, president and chief executive officer of UnitedHealthcare, said, Fiserv Health brings dedicated resources and strong management expertise in serving customers seeking highly customized benefits packages. Their capabilities strengthen our offerings and enhance our flexibility in this important area of business.
Jeffery Yabuki, president and chief executive officer of Fiserv, Inc., said, UnitedHealthcare was the right partner for these businesses and their customers, and should provide enhanced opportunities for Fiserv Health employees. |