Humana, the massive Louisville-based health insurance company, is set to begin phasing out commercial insurance offerings over the next two years. The company, which reported having around 10,000 employees who live in the region as of last year , announced the move Thursday morning, noting it "remains committed to the long-term growth" of Medicare Advantage and other Medicare offerings and government-funded programs. The exit from the "Employer Group Commercial Medical Products business," which includes fully insured, self-funded and federal employee plans, will take place over the next 18 to 24 months, a release said. Company spokesperson Mark Taylor said the number of jobs that will be eliminated is not currently clear as "final decisions surrounding organizational changes, the development of new job opportunities and the wind-down of the business are still underway." A focus on health plan offerings for government and specialty businesses should "best position Humana for long-term growth and success," he said in an email. Opinion column: Greenberg’s plan to stop flow of guns is nothing more than lipstick on a pig Commercial plans accounted for 4% of Humana’s total premiums and services revenue in 2022, according to Securities and Exchange Commission filings , at about $3.7 […]
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