UnitedHealthcare, the health insurance arm of UnitedHealth Group, spent more than $400 million on affordable housing investments, the company said March 26.
UnitedHealthcare launched its affordable housing initiative in 2011. The health insurer has since invested in 80 affordable housing communities nationwide, resulting in more than 4,500 new homes across 18 states.
According to UnitedHealthcare's Medicaid data, one state involved in the initiative has seen emergency room admissions drop 60 percent. Total cost of care was also 50 percent lower for individuals enrolled in a housing program, according to the insurer.
"Access to safe and affordable housing is one of the greatest obstacles to better health, making it a social determinant that affects people's well-being and quality of life," Steve Nelson, CEO of UnitedHealthcare, said in a news release. "UnitedHealthcare partners with other socially minded organizations that understand the value of good health, and how public-private partnerships like these can succeed in helping make a positive impact in our communities."
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