Additional $100 Million Investment in Housing Bolsters UnitedHealth Group’s Efforts to Address Social Determinants and Achieve Better Health Outcomes
April 07 2022 - 9:00AM
Business Wire
Total investment nears $800 million, resulting
in almost 19,000 new homes for individuals and families in need,
including funds to support on-site health services
UnitedHealth Group (NYSE: UNH) announced an additional $100
million investment in the Health & Housing Fund — a partnership
with Stewards of Affordable Housing for the Future (SAHF) and
National Affordable Housing Trust (NAHT). The announcement brings
the company’s total investments in affordable housing to nearly
$800 million, resulting in the creation of nearly 19,000 homes for
individuals and families struggling with housing insecurity, more
than 1,000 of which will be a direct result of the new
investment.
Construction is already underway in East Point, Ga.; Monroe,
N.C.; and Beaverton, Ore.; for three affordable housing communities
that will provide nearly 250 homes for older adults and families.
Additional affordable housing locations will be announced in the
coming months as development proposals are finalized. A $1 million
investment will support on-site health-related services for
residents in those communities and be used by SAHF to measure,
analyze and report on property residents’ health outcomes.
“The need for affordable housing and the connection between
housing and health continues to be top of mind throughout the
communities we serve,” said Tim Spilker, chief executive officer,
UnitedHealthcare Community & State, a UnitedHealth Group
business. “Our work to address social determinants and help to
create new affordable housing opportunities that include support
services is driving better health outcomes for some of the nation’s
most underserved populations.”
UnitedHealth Group announced its national partnership with SAHF
and NAHT in June 2020, which initially provided $118 million in
funding for 15 affordable housing communities in 11 states and the
District of Columbia.
The company also provided more than $1 million in grants to
support on-site health-related services for residents in 2020.
“Our partnership with UnitedHealth Group is having a positive
impact, helping provide new healthy, affordable homes in
communities where a persistent need exists for affordable housing,”
said Andrea Ponsor, president and chief executive officer, SAHF.
“This additional $100 million investment clearly demonstrates
UnitedHealth Group’s continued focus and leadership on improving
health outcomes through investments in quality, service-enriched
housing.”
SAHF is a collaborative of 12 multistate leading nonprofit
affordable housing providers that own more than 149,000 affordable
rental homes. NAHT is a nonprofit syndicator and development
consultant that raises equity from investors and directs the funds
to nonprofit and mission-aligned developers and owners who build,
preserve and manage quality affordable housing with a focus on
improving residents’ lives.
“Availability and access to safe and affordable housing remains
one of the greatest barriers to better health for many people,
affecting the physical and mental health of millions,” said Lori
Little, president and chief executive officer, NAHT. “UnitedHealth
Group continues to set the standard for how health care and
affordable housing work together.”
Research shows that 80% of an individual’s health is determined
by what happens outside of a doctor’s office1. According to the
National Low Income Housing Coalition2, COVID-19, coupled with
economic conditions, has brought devastating harm to millions of
families with 70% of the nation’s 10.8 million extremely low-income
renter households being severely burdened by housing costs,
spending more than half of their incomes on rent and utilities.
Promoting positive health outcomes through greater access to
affordable housing is one part of UnitedHealth Group’s
multi-pronged commitment to redefine healthy living for the
uninsured and underserved. Since 2011, through its UnitedHealthcare
and Optum businesses, the company has helped build new affordable
housing developments in 26 states and the District of Columbia for
people in need of affordable housing supportive services. The
investments are made through the use of Low-Income Housing
Investment Tax Credits (LIHTC), Community Reinvestment Act (CRA)
loans, and direct investments by the company.
The company is also investing in programs and partnerships
focused on food, health literacy, behavioral health and social
isolation, including $100 million to fight the COVID-19 pandemic
and support those most directly impacted by the public health
emergency, such as health care workers, hard-hit communities and
older adults.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a health care and well-being
company with a mission to help people live healthier lives and help
make the health system work better for everyone through two
distinct and complementary businesses. Optum delivers care aided by
technology and data, empowering people, partners and providers with
the guidance and tools they need to achieve better health.
UnitedHealthcare offers a full range of health benefits, enabling
affordable coverage, simplifying the health care experience, and
delivering access to high-quality care. Visit UnitedHealth Group at
www.unitedhealthgroup.com and follow @UnitedHealthGrp on
Twitter.
1
https://nam.edu/social-determinants-of-health-101-for-health-care-five-plus-five/
2
https://reports.nlihc.org/sites/default/files/gap/Gap-Report_2021.pdf
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220407005128/en/
Christina Witz UnitedHealthcare 952-931-4645
Christina.witz@UHC.com
UnitedHealth (NYSE:UNH)
Historical Stock Chart
From Mar 2024 to Apr 2024
UnitedHealth (NYSE:UNH)
Historical Stock Chart
From Apr 2023 to Apr 2024