Company to offer Medicare health plans in 46 states
LOUISVILLE, Ky., June 7 /PRNewswire/ -- Humana Inc. (NYSE: HUM) announced
today that it intends to nearly double the size of its Medicare geographic
reach through its Medicare Health Plan product offerings filed with The
Centers for Medicare & Medicaid Services (CMS). The company will increase its
Medicare operations from 25 states to 46 in 2006.
Humana intends to offer both the stand-alone Medicare Prescription Drug
Coverage (PDP) and Medicare Advantage Health Plan with Prescription Drug
Coverage (MA-PD) in addition to its current Medicare product offerings.
"Because of the Medicare Modernization Act of 2003, Medicare Advantage now
offers vastly expanded opportunities, including regional PPOs and prescription
drug plans," said Michael B. McCallister, president and chief executive
officer of Humana. "Our recent filings with CMS are designed to position
Humana for continued success in the Medicare program providing consumers
greater product choices and a superior health plan experience."
According to the timeline established by CMS, contracts are scheduled to
be awarded to qualified health insurers in September with open enrollment
slated to begin in November for the Jan. 1, 2006 effective date.
"Humana's goal is to help people learn as easily as possible more about
Medicare health coverage options in 2006," said Stefen Brueckner, Humana's
vice president for senior products. "Our customer service representatives will
become sources of information about the new plan options. They'll be
important points of contact for consumers as well as the doctors and hospitals
in our expanding network."
Humana currently offers Medicare Advantage HMO and PPO health plans in
nearly 40 markets nationwide as well as its private fee-for-service (PFFS)
plan in eleven states with plans for expansion into more than twenty
additional states in the coming months.
"As alternatives to traditional Medicare and supplement plans, Humana's
benefit options offer more than just affordability," Brueckner continued.
"Our SilverSneakers fitness program, available in most of our markets, coupled
with Humana's industry-leading disease management programs and care-management
services, are empowering members to be better health care consumers.
Providing information to help consumers make informed decisions is crucial to
having a meaningful and successful relationship between people with Medicare
and their health benefits carrier."
"Humana's investment in our commercial and Medicare strategies over the
past several years has allowed us to build a robust clinical program that will
help Medicare consumers better understand how to use their prescription drug
benefits," said William Fleming, PharmD, Humana's vice president of pharmacy
and clinical integration. "We intend to accomplish CMS' goal of providing
affordable, quality pharmaceutical care by being a trusted educational
resource for our senior consumers so members can get the best value out of
their health benefits."
The forward-looking statements included in this press release are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be significantly impacted
by certain risks and uncertainties described in Humana's Form 10-K for the
year ended December 31, 2004 and its Form 10-Q for the quarter ended March 31,
2005, as filed with the Securities and Exchange Commission.
About Humana
Humana Inc., headquartered in Louisville, Ky., is one of the nation's
largest publicly traded health benefits companies, with approximately 7
million medical members. Humana offers a diversified portfolio of health
insurance products and related services - through traditional and consumer-
choice plans - to employer groups, government-sponsored plans, and
individuals.
Over its 44-year history, Humana has consistently seized opportunities to
meet changing customer needs. Today, the company is a leader in consumer
engagement, providing guidance that leads to lower costs and a better health
plan experience throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the
Investor Relations page of the company's web site at http://www.humana.com ,
including copies of:
- Annual report to stockholders;
- Securities and Exchange Commission filings;
- Most recent investor conference presentation;
- Quarterly earnings press releases;
- Audio archive of most recent earnings release conference call;
- Calendar of events (includes upcoming earnings conference call dates,
times, and access number, as well as planned interaction with
institutional investors);
- Corporate Governance Information.
SOURCE Humana Inc.
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http://www.humana.com
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CONTACT:
Barbara Kerr of Humana Corporate
Communications, +1-305-626-5736, or bkerr@humana.com
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