Source: Humana logo February 27, 2023 – Humana has announced plans to leave the employer group insurance business and direct its focus toward its government-funded health plan offerings. The payer’s employer group commercial medical products business includes fully insured, self-funded, and Federal Employee Health Benefit medical plans and associated wellness and rewards programs. Going forward, the payer will prioritize the long-term growth of its other insurance offerings, including Medicare Advantage, Group Medicare, Medicare Supplement, Medicare prescription drug plans, Medicaid, military and specialty plans, and its CenterWell healthcare services business . After a strategic review, Humana determined that the employer group insurance business was not in a position to meet commercial member needs or support the company’s long-term strategic plans. The payer said it will ensure a smooth insurance transition for commercial members as it phases the exit over the next 18 to 24 months. “This decision enables Humana to focus resources on our greatest opportunities for growth and where we can deliver industry leading value for our members and customers,” Bruce D. Broussard, president and chief executive officer of Humana, said in the announcement. “It is in line with the company’s strategy to focus our health plan offerings primarily […]
Click here to view original web page at healthpayerintelligence.com
