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 the matter told CNBC that those who do not accept the offer will continue to take on their current role or comparable positions. People say that if a company does not meet the resignation quota through acquisitions, it will fire employees and cite internal resource websites.
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.
Employees that meet the acquisition include full-time or part-time U.S. workers assigned to four internal departments, including companies, consumer operations, core services and provider services, according to an internal memorandum sent Monday by CNBC.
“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 the memorandum, the company expects employees to terminate no more than May 1. 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.
People familiar with the matter said workers who received the acquisition offer were shocked, especially after UnitedHealth Group reported its highest annual income in 2024. In its January earnings release, the company said it generated $400.3 billion in revenue in 2024, up 8% year-on-year.
“Digital adoption” helped the company reduce costs, UnitedHealth executives said on a company’s fourth-quarter 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 that at the meeting that lasts about 10 minutes, workers were told about the acquisition and were told they would have the opportunity to ask questions at information meetings in the coming 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, and was attacked by a cyber attack in February 2024, which damages the 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.
