UnitedHealth Group Incorporated is a publicly traded American for-profit health insurance company based in Minnetonk, Minnesota. It provides health insurance services and products.
In 2020 it had a turnover of approximately $5.4 billion and generated a huge revenue. Its main product is a health maintenance organization (HMO), a health plan designed to control health expenses by restricting the use of medical services and health products for a specified group of people. This health plan is commonly used by senior citizens and people with health problems.
The health plans are designed to provide benefits at relatively low cost to its insureds. To become insured under a UnitedHealth HMO plan, you have to meet specific eligibility requirements including being a United States citizen or a legal resident of United States. Once you are insured, you can choose from various health plans available under the program. This type of health insurance plan is widely available through different health insurance companies in the United States and throughout the world.
The main difference between HMO and PPO is that under PPO health plans, you pay monthly premiums only, whereas under HMO plans, you have to pay a fixed fee for each health service and prescription of your choice. Unlike PPO plans, HMO is also designed to offer lower co-pay rates for all health services provided to insureds. However, HMO plans are usually less effective in controlling the cost of medical services than PPO plans.
According to UnitedHealth, it has the highest market share in America with over thirty percent of the total insurance market with a health maintenance organization. Most of its business comes from its health maintenance organization (HMO) plans and health supplement plan that it provides to its clients. Most people who get their insurance through UnitedHealth have been satisfied with the health service they receive.
UnitedHealth has some of the largest health maintenance organizations in North America, including Assurant Health, Celtic, Centura Health, and MedPlan. The major areas of coverage under these health maintenance organizations include family, vision, dental, mental health, prescription, mental health and dental plans, and wellness. This insurance company also offers group health coverage. It covers millions of consumers in over 200 countries.
Health plans provided by UnitedHealth will usually cover hospitalization, doctor visits, emergency room visits, maternity care, prescriptions and outpatient care. People who have pre-existing health conditions, pre-existing conditions that are chronic, or other health problems will have to pay extra for these services.
UnitedHealth is one of the largest insurance companies in the United States with over twelve million individual and small business insured. As with any insurance company, it also has its own policy on claims handling. However, this company provides a wide range of assistance to its clients in dealing with any difficulties or claims issues that may arise. In the United States, claim processing time is about three to five days, depending on the insurer's system. For large claims, processing times may extend up to six weeks.
To make sure that your health plans are properly handled and to avoid any issues with claims processing, you should check with a local representative of UnitedHealth about their claims processing. Also, there is an online claims center available to help you file claims for free.