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Share Name | Share Symbol | Market | Type |
---|---|---|---|
UnitedHealth Group Inc | NYSE:UNH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.84 | 0.37% | 495.70 | 497.23 | 491.40 | 492.00 | 2,727,018 | 01:00:00 |
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[X]
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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[ ]
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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UnitedHealth Group Center
9900 Bren Road East
Minnetonka, Minnesota
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NOTE:
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All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
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/s/ DELOITTE & TOUCHE LLP
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UNITEDHEALTH GROUP 401(k) SAVINGS PLAN
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||||
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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AS OF DECEMBER 31, 2018 AND 2017 (in thousands)
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2018
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2017
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ASSETS:
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Plan's interest in Master Trust
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$
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10,328,244
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$
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10,298,148
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Investments - at fair value
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590,914
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558,636
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Receivables:
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Notes receivable from participants
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333,744
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299,404
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Employer contributions
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1,086
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956
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||||
NET ASSETS AVAILABLE FOR BENEFITS
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$
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11,253,988
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$
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11,157,144
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UNITEDHEALTH GROUP 401(k) SAVINGS PLAN
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STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR THE YEAR ENDED DECEMBER 31, 2018 (in thousands)
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||||
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ADDITIONS:
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Contributions:
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Employee
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$
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825,925
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Employer
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384,345
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Rollover
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134,383
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Total contributions
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1,344,653
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Net appreciation in fair value of investments
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29,666
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Interest and dividends
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5,186
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Interest income on notes receivable from participants
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15,667
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Total additions
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1,395,172
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DEDUCTIONS:
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Benefits paid to participants
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(757,010
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)
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Plan's interest in Master Trust investment loss
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(675,040
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)
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Administrative expenses
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(6,791
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)
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Total deductions
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(1,438,841
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)
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(DECREASE) IN NET ASSETS BEFORE PLAN TRANSFERS
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(43,669
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)
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NET TRANSFERS INTO THE PLAN (Note 10)
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140,513
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INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS
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96,844
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NET ASSETS AVAILABLE FOR BENEFITS:
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Beginning of year
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11,157,144
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End of year
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$
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11,253,988
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1.
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DESCRIPTION OF PLAN
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Years of Service
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Vesting
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Less than 2 years
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0%
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2 or more
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100%
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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3.
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PLAN'S INTEREST IN MASTER TRUST
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2018
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||||||
(in thousands)
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Master Trust Balances
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Plan's Interest in Master Trust Balances
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||||
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Cash and cash equivalents
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$
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13,915
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$
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13,067
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Debt securities:
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|
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||||
U.S. government and agencies
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170,459
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162,457
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Corporate and other
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232,724
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221,800
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Mutual funds
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2,777,023
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2,696,658
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Common stock
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448,521
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414,298
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Common/collective trust
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6,563,631
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6,236,236
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Total investments - at fair value
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10,206,273
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9,744,516
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Stable value investment fund (Note 5)
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605,314
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584,163
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Total investments
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10,811,587
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10,328,679
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Accrued income
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4,209
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3,986
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Accrued liabilities
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(4,707
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)
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(4,421
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)
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||||
Total net assets
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$
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10,811,089
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$
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10,328,244
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2017
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||||||
(in thousands)
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Master Trust Balances
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Plan's Interest in Master Trust Balances
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||||
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||||
Cash and cash equivalents
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$
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13,970
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$
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13,943
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Debt securities:
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||||
U.S. government and agencies
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202,224
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201,945
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Corporate and other
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188,366
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188,106
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Mutual funds
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2,911,330
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2,907,287
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Common stock
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430,780
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428,563
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Common/collective trust
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6,042,222
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6,016,773
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Total investments - at fair value
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9,788,892
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9,756,617
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Stable value investment fund (Note 5)
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543,362
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542,926
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Total investments
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10,332,254
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10,299,543
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||||
Accrued income
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6,348
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6,330
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Accrued liabilities
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(7,741
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)
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(7,725
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)
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||||
Total net assets
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$
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10,330,861
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$
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10,298,148
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2018
|
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(in thousands)
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Master Trust Balances
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Net depreciation in fair value of investments
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$
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(787,329
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)
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Interest and dividends
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80,721
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Total investment loss
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$
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(706,608
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)
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Plan's Interest in Master Trust investment loss
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|
$
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(675,040
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)
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4.
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FAIR VALUE MEASUREMENT
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Level 1
‑
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Unadjusted quoted prices for identical assets in active markets that the Plan or Master Trust can access.
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Level 2
‑
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Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as:
|
•
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quoted prices for similar assets or liabilities in active markets;
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•
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quoted prices for identical or similar assets or liabilities in inactive markets;
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•
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inputs other than quoted prices that are observable for the asset or liability;
|
•
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inputs that are derived principally from or corroborated by observable market data by correlation or other means.
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Level 3
‑
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Unobservable inputs for the asset.
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Fair Value Measurements at December 31, 2018
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||||||||||
(in thousands)
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Quoted Prices
in Active
Markets
(Level 1)
|
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Other
Observable
Inputs
(Level 2)
|
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Total
Fair
Value
|
||||||
|
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|
|
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|
|
||||||
Cash and cash equivalents
|
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$
|
17,771
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|
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$
|
—
|
|
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$
|
17,771
|
|
Debt securities:
|
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|
|
|
|
|
||||||
U.S. government and agencies
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|
42,554
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119,903
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162,457
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|||
Corporate and other
|
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—
|
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|
221,800
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|
|
221,800
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|||
Mutual funds
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|
2,696,658
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—
|
|
|
2,696,658
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|||
Self-directed brokerage accounts
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|
210,462
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|
|
5,304
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|
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215,766
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|
|||
Common stock
|
|
784,742
|
|
|
—
|
|
|
784,742
|
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|||
|
|
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|
|
|
|
||||||
Total assets in the fair value hierarchy
|
|
$
|
3,752,187
|
|
|
$
|
347,007
|
|
|
4,099,194
|
|
|
|
|
|
|
|
|
|
||||||
Instruments measured at NAV
|
|
|
|
|
|
6,236,236
|
|
|||||
|
|
|
|
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|
|
||||||
Total investments at fair value
|
|
|
|
|
|
$
|
10,335,430
|
|
||||
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|
||||||
|
|
Fair Value Measurements at December 31, 2017
|
||||||||||
(in thousands)
|
|
Quoted Prices
in Active
Markets
(Level 1)
|
|
Other
Observable
Inputs
(Level 2)
|
|
Total
Fair
Value
|
||||||
|
|
|
|
|
|
|
||||||
Cash and cash equivalents
|
|
$
|
21,218
|
|
|
$
|
—
|
|
|
$
|
21,218
|
|
Debt securities:
|
|
|
|
|
|
|
||||||
U.S. government and agencies
|
|
80,990
|
|
|
120,955
|
|
|
201,945
|
|
|||
Corporate and other
|
|
—
|
|
|
188,106
|
|
|
188,106
|
|
|||
Mutual funds
|
|
2,907,287
|
|
|
—
|
|
|
2,907,287
|
|
|||
Self-directed brokerage accounts
|
|
192,691
|
|
|
3,105
|
|
|
195,796
|
|
|||
Common stock
|
|
784,128
|
|
|
—
|
|
|
784,128
|
|
|||
|
|
|
|
|
|
|
||||||
Total assets in the fair value hierarchy
|
|
$
|
3,986,314
|
|
|
$
|
312,166
|
|
|
4,298,480
|
|
|
|
|
|
|
|
|
|
||||||
Instruments measured at NAV
|
|
|
|
|
|
6,016,773
|
|
|||||
|
|
|
|
|
|
|
||||||
Total investments at fair value
|
|
|
|
|
|
$
|
10,315,253
|
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Investment
|
|
Fair Value
(1)
|
|
Unfunded Commitment
|
|
Redemption Frequency
(2)
|
|
Redemption Notice Period
(3)(4)
|
||||
|
|
(in thousands)
|
|
(in thousands)
|
|
|
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|
||||
December 31, 2018
|
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|
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|
||||
|
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|
|
|
|
|
|
|
||||
Common/collective trust
|
|
$
|
6,236,236
|
|
|
$
|
—
|
|
|
Immediate
|
|
Various
|
|
|
|
|
|
|
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|
||||
December 31, 2017
|
|
|
|
|
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|
||||
|
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|
|
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|
|
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|
||||
Common/collective trust
|
|
$
|
6,016,773
|
|
|
$
|
—
|
|
|
Immediate
|
|
Various
|
(1)
|
The fair value of investments are based on the fair values of the underlying investments in the funds.
|
(2)
|
Certain events may cause funds held in the common/collective trust to be deferred, including, but not limited to, the following:
|
(i)
|
Closing or disruption of the financial markets or exchanges in which a transaction is unable to be settled prudently.
|
(ii)
|
An emergency situation in which the disposition of assets would be seriously prejudicial to Master Trust participants.
|
(iii)
|
Breakdown in the means of communication normally employed to determine fair market value of an investment.
|
(iv)
|
Investments cannot be effected at normal rates of exchange.
|
5.
|
FULLY BENEFIT-RESPONSIVE INVESTMENT CONTRACTS
|
(in thousands)
|
|
2018
|
|
2017
|
||||
|
|
|
|
|
||||
Security-backed investment contracts
|
|
$
|
474,054
|
|
|
$
|
411,691
|
|
Separate account guaranteed investment contract
|
|
131,260
|
|
|
131,671
|
|
||
|
|
|
|
|
||||
Total stable value investment fund
|
|
$
|
605,314
|
|
|
$
|
543,362
|
|
|
|
|
|
|
||||
Plan's interest in stable value investment fund
|
|
$
|
584,163
|
|
|
$
|
542,926
|
|
•
|
Material amendments to the Master Trust’s structure of administration;
|
•
|
Failure of the Master Trust to qualify under Section 401(a) of the Code or the failure of the Master Trust to be tax- exempt under Section 501(a) of the Code;
|
•
|
Premature termination of the contracts;
|
•
|
Complete or partial termination of the Master Trust, including a merger within another plan;
|
•
|
Redemption of all or a portion of the interests in the Master Trust at the direction of the Company, including withdrawals due to the removal of a specifically identifiable group of employees from coverage under the Master Trust (such as a group layoff or early retirement incentive program), the closing or sale of a subsidiary, employing unit or affiliate, or the Company’s establishment of another tax qualified defined contribution plan;
|
•
|
Changes to the Master Trust’s prohibition on competing investment options; and
|
•
|
Bankruptcy of the plan sponsor or other plan sponsor events (for example, divestitures or spinoffs of a subsidiary) that significantly affect the Master Trust’s normal operations.
|
6.
|
PLAN AMENDMENT OR TERMINATION
|
7.
|
FEDERAL INCOME TAX STATUS
|
8.
|
EXEMPT PARTY-IN-INTEREST TRANSACTIONS
|
9.
|
RISKS AND UNCERTAINTIES
|
10.
|
PLAN TRANSFERS
|
11.
|
DELINQUENT PARTICIPANT CONTRIBUTIONS
|
12.
|
RECONCILIATION TO THE FORM 5500
|
(in thousands)
|
|
2018
|
|
2017
|
||||
Net assets available for benefits per the financial statements
|
|
$
|
11,253,988
|
|
|
$
|
11,157,144
|
|
Deemed distributions of participant loans
|
|
(536
|
)
|
|
(609
|
)
|
||
|
|
|
|
|
||||
Net assets available for benefits per the Form 5500
|
|
$
|
11,253,452
|
|
|
$
|
11,156,535
|
|
(in thousands)
|
|
2018
|
||
Increase in net assets per the financial statements
|
|
$
|
96,844
|
|
Deemed distributions activity
|
|
73
|
|
|
|
|
|
||
Net income per the Form 5500
|
|
$
|
96,917
|
|
UNITEDHEALTH GROUP 401(k) SAVINGS PLAN
|
|
|
||
(EIN 41-1321939, Plan #001)
|
|
|
||
|
|
|
||
FORM 5500, SCHEDULE H, Part IV, LINE 4I — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||
AS OF DECEMBER 31, 2018 (in thousands)
|
||||
|
|
|
||
|
|
Current Value
|
||
|
|
|
||
UnitedHealth Group Inc. common stock*
|
|
$
|
370,444
|
|
Self directed brokerage account
|
|
215,766
|
|
|
Fidelity institutional cash - U.S. government fund
|
|
4,704
|
|
|
Participant loans (interest ranging from 3.25% to 10.25% and maturity dates ranging from January 2019 - October 2046)*
|
|
333,208
|
|
|
Total investments
|
|
$
|
924,122
|
|
|
|
|
UNITEDHEALTH GROUP 401(k) SAVINGS PLAN
|
|
|
(EIN 41-1321939, Plan #001)
|
|
|
|
|
|
FORM 5500, SCHEDULE H, Part IV, LINE 4A - SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
|
||
FOR THE YEAR ENDED DECEMBER 31, 2018
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Total That Constitute Nonexempt Prohibited Transactions
|
|
Total Fully Corrected under VFCP and Prohibited Transaction Exemption 2002-51
|
||||||||||||
|
|
Contributions Not Corrected
|
|
Contributions Corrected Outside Voluntary Fiduciary Correction Program (VFCP)
|
|
Contributions Pending Correction in VFCP
|
|
|||||||||
Participant contributions transferred late to the plan
|
|
$
|
7,645
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
||||||||
Check here if late participant loan contributions are included: X
|
|
|
UNITEDHEALTH GROUP 401(K) SAVINGS PLAN
|
|
|
|
By:UNITEDHEALTH GROUP INCORPORATED,
the Plan Sponsor
|
|
Dated: June 18, 2019
|
|
By:
|
/S/ THOMAS E. ROOS
|
|
|
|
Thomas E. Roos
Senior Vice President and Chief Accounting Officer
|
1 Year UnitedHealth Chart |
1 Month UnitedHealth Chart |
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