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Selling insurance products under UnitedHealthcare, and health care services under the Optum brand, it is the world's ninth-largest company by revenue and the largest health care company by revenue. The company is ranked 8th on the 2024 Fortune Global 500. [4] UnitedHealth Group had a market capitalization of $460.3 billion as of December 20, 2024.
The predecessor of the company was founded in 1978 by Samuel J. Tibbitts as a subsidiary of the Lutheran Hospital Society of Southern California. [1] PacifiCare was incorporated in 1983. [2] In 1985, PacifiCare of Oregon was created. [3] In 1993, Alan Hoops replaced Terry Hartshorn as president and CEO. [4]
Since that time, a number of insurance plans have been added or changed. [ 1 ] In 1960, the newly established Federal Employees Health Benefits (FEHB) Act of 1959 provided all Federal employees, annuitants, and eligible family members with the opportunity to voluntarily enroll in a group health benefits program with the government sharing the ...
Optum serves employers, government agencies, health plans, life science companies, care providers and individuals and families offering products in data and analytics, pharmacy care services, health care operations and delivery, population health management and advisory services. [7]
Health Insurance Plan of Greater New York (HIP) was incorporated in 1944 as the first health insurance plan for public service workers. [9] The company was founded by David M. Heyman with the support of New York City mayor Fiorello La Guardia, who wanted to offer medical services to New Yorkers of “moderate means.” [10] HIP got its first members in 1947.
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Catamaran Corporation (formerly SXC Health Solutions) is the former name of a company that now operates within UnitedHealth Group's OptumRX division (since July 2015). It sells pharmacy benefit management and medical record keeping services to businesses in the United States [3] and to a broad client portfolio, including health plans and employers. [4]
In the 1980s, he moved the company from Lawrenceville, Illinois to Indianapolis. He retired from the company in 1996. [12] In 1981, the company sued the Educational Testing Service (ETS) and the Illinois Department of Insurance, claiming that the ETS examination for Illinois insurance agents discriminated against members of minority groups. The ...
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