Thursday, March 23, 2023
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Humana to exit employer group industrial medical merchandise enterprise

Humana to exit employer group commercial medical products business

Humana has introduced that it’ll exit the employer group industrial medical merchandise enterprise, which incorporates all totally insured, self-funded and federal worker well being profit medical plans, in addition to related wellness and rewards packages.

No different Humana well being plan choices shall be materially affected, the corporate stated. Humana stated that it stays dedicated to the long-term progress of its core insurance coverage strains of enterprise, together with Medicare Benefit, group Medicare, Medicare Complement, Medicare prescription drug plans, Medicaid, navy and specialty, and its CenterWell healthcare providers enterprise.

Humana stated {that a} strategic overview decided that the employer group industrial medical merchandise enterprise was “now not positioned to sustainably meet the wants of economic members over the long run or assist the corporate’s long-term strategic plans.”

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Humana’s exit from the enterprise shall be phased in over the following 18 to 24 months. The corporate stated it’s dedicated to making sure a clean transition of providers for members and industrial clients.

“This choice permits Humana to focus sources on our biggest alternatives for progress and the place we will ship industry-leading worth for our members and clients,” stated Bruce D. Broussard, president and CEO of Humana. “It’s according to the corporate’s technique to focus our well being plan choices totally on government-funded packages (Medicare, Medicaid and navy) and specialty enterprise, whereas advancing our management place in built-in value-based care and increasing our CenterWell healthcare providers capabilities. We’re assured in Humana’s continued success, and our dedication to enhancing the well being of these we serve is unwavering.”

Humana is among the 10 largest medical health insurance suppliers within the nation.

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