General Vision Beyond United Healthcare Company Headquarters December 4, 2024 in Minnetonka, Minnesota.
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UnitedHealthCare provides certain employees for its welfare operations department, and if they resign before March 3, they have the option to accept the acquisition. A turbulent year Regarding insurance giants, CNBC learned.
Two people familiar with this told CNBC. People say that if the company does not reach its resignation quota through acquisitions, it will refer to employees of the internal resource website.
The company declined to share how many employees received the acquisition offer under the so-called voluntary resignation separation plan. One said the welfare operations department oversees multiple segments that help manage customer service, claims, registrations, insurance benefits for clients, and more.
UnitedHealthcare, insurance company UnitedHealth Groupis the largest private health insurance company of United Health Group, as of December 2023but it does not disclose how many people work in their welfare sector or overall insurance business.
UnitedHealth Group is the largest healthcare group in the U.S. based on revenue and a market capitalization of approximately $460 billion, but as health care benefits increase for healthcare costs, it attempts to cut costs and involves the consequences of expensive cyberattacks subsidiary changes to healthcare health care. In the United States, it is also angry at the high health care costs in the United States kill Its insurance unit CEO Brian Thompson in December.
Eligibility for the acquisition includes full-time or part-time U.S. workers assigned to four internal departments, including welfare operations, including corporate, consumer operations, core services and provider services, the memo shows.
“This voluntary choice is part of our ongoing efforts to ensure our team is best able to meet the evolving needs of the people and customers we are honored to serve,” a UnitedHealth spokesperson told CNBC in a statement. “We continue to develop our workforce by offering more than 3,200 positions on the UnitedHealth Group’s career website.”
According to an internal memo sent on Monday, the company expects employees’ termination date to be on January 1 soon. Some employees who accept the acquisition may need to work after that date, but the company does not want them to work on November 13, the memo said.
The memorandum said their severance payment will depend on the number of years they spend on the company and wage rating and will begin on the termination date. The memo shows that the benefits offered to employees included in any potential layoffs may not be as “favorable” as workers under the acquisition plan.
Workers receiving the acquisition offer were shocked, especially after UnitedHealth Group reported its highest annual income ever recorded in 2024. In its January earnings release, the company said it generated $400.3 billion in revenue in 2024, up 8% year-on-year.
UnitedHealth executives said “digital adoption” helped the company reduce costs during its fourth-quarter conference call in January. CEO Andrew Witty calls it a “modernization agenda” that includes but is not limited to artificial intelligence.
UnitedHealth is “just scratching the surface of the opportunity”, he added.
People say workers were told about the acquisition during a meeting that lasted about 10 minutes on Monday. They will have the opportunity to ask questions in the information meeting in the next few days.
The acquisition created a torrent of anger and dissatisfaction with the insurance industry following the Thompson shooting and called for reform.
This is just a few months after processing a change in health care claims, after a cyber attack last February that harms protected health information around it 190 million people. UnitedHealth Group owns More than $3 billion paid To providers affected by cyber attacks.
United Health Group Fire workers Last year in its Optum Health Services division.
The company’s shares rose nearly 1% on Wednesday.
