UnitedHealth to Serve Koreans
In a continuous effort to better serve the Korean American community, UnitedHealthcare, a unit of UnitedHealth Group Inc. (UNH) has opened its fifth health benefits store named Asian Resource Center, in California.
With this new store the company aims to provide specialized service to Koreans living in Los Angeles, CA. Via this setup, the Medicare beneficiaries will get all the required information about their Medicare coverage options.
To provide all-around guidance about health and well being, the store plans to set up events from time to time to educate the Korean community how to better manage their health. Local small Korean businessmen will also be provided with the required support.
UnitedHealthcare already has 22 such stores spread all over the U.S. UnitedHealth is also aiming to set up similar stores all around the country to serve other communities.
UnitedHealth is one such health insurer that provides special treatment to the Asians living in America. The company made a debut in 1994 when it opened its first shop to serve the Chinese Americans.
Given its bent toward serving the Asian population, we expect the company to penetrate Asiain the near future. The company is already on its path of international expansion. It has set up ventures in Brazil as well as Middle East.
The Asian region is the apple of insurers’ eyes. They foresee Asia as an attractive market given its demographic characteristics, growing middle class population with higher disposable income and increased awareness about health care.
Some of the health insurance players such as CIGNA Corp. (CI), and Aetna Inc. (AET) have a significant presence in the region.
UnitedHealth carries Zacks Rank #4 (Sell).
Another player in the same industry WellPoint Inc. (WLP) with Zacks Rank #2 (Buy) is worth considering.
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