UnitedHealth Group Provides $1 Million in Scholarships for Carlson School Health Care Actuarial ProgramMINNEAPOLIS/ST. PAUL —
The Carlson School of Management at the University of Minnesota received a $1 million gift from UnitedHealth Group to support a scholarship program aimed at encouraging more students to pursue careers as health care actuaries.
This gift comes as part of UnitedHealth Group’s “United Minnesota” initiative. Launched in 2007, this 10-year, $100 million initiative supports communities in Minnesota by advancing health, education and social well-being through alliances with organizations that have demonstrated success in improving the quality of life in their communities and the state.
Health care actuaries serve a vital role in projecting costs, predicting trends and ensuring that regulations are met by combining skills in business, finance and statistics.
The UnitedHealth Group Actuarial Scholarships will provide up to two semesters of full-time, undergraduate, in-state tuition for as many as 15 enrolled undergraduate students per year on the University's Twin Cities Campuses for 5 years. Applicants will need to demonstrate math comprehension and skill, and will be drawn primarily from undergraduate programs in the Carlson School, the College of Liberal Arts, the Institute of Technology and the College of Food, Agricultural and Natural Resource Sciences.
The Medical Industry Leadership Institute (MILI) at the Carlson School of Management will coordinate and manage the scholarship program for the University. MILI will also convene both faculty and industry advisory boards to help set eligibility criteria and to help plan two professional seminars per year for scholarship recipients and industry representatives.
“UnitedHealth Group’s generous gift will provide significant support to students interested in the important field of health care actuarial science,” said Dr. Stephen Parente, associate professor of finance and director of the MILI. “Health care actuaries serve an important role in managing and assessing risk, a critical component of successful health care systems. Our close proximity to such a strong medical industry in the Twin Cities area provides the ideal environment for this partnership with UnitedHealth Group, and we are excited about what this engagement will produce.”
“This new actuarial scholarship program will greatly enhance the accessibility and visibility of the University of Minnesota’s program to more undergraduate students interested in the profession,” said Dr. Larry Gray, professor of mathematics and director of undergraduate studies at the Institute of Technology. “We are pleased that UnitedHealth Group values our strong academic program and appreciates the impact such a program has on ensuring a qualified, high-caliber pool of health care actuaries in the future.”
“Looking to the future, we see a real demand for credentialed actuaries,” said Kyle Brua, UnitedHealth Group vice president and actuary. “We’re thrilled to be partnering with the Medical Industry Leadership Institute (MILI) at the Carlson School of Management, one of the leading public research land-grant institutions in the country to support this area of study and ensure a strong work force of tomorrow.”
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealthcare, Ovations, AmeriChoice, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves 70 million individuals nationwide. Visit www.unitedhealthgroup.com for more information.
About the Carlson School of Management
Established in 1919 and based in the Twin Cities of Minneapolis and St. Paul, the Carlson School of Management at the University of Minnesota is a recognized leader in business education and research. Its focus on experiential learning, international education, and maintaining strong ties to the business community exemplify the school’s commitment to excellence. More information about the school can be found at www.carlsonschool.umn.edu.