Humana Inc. reports news around its U.S. healthcare business, combining Humana insurance services with CenterWell healthcare services. Company updates commonly address Medicare Advantage and other health plan membership, Insurance segment benefit ratios, GAAP and adjusted earnings, full-year guidance, and capital returns through quarterly dividends.
News also covers CenterWell's senior-focused primary care, home health, pharmacy, hospice and retail pharmacy activities; prescription access and home delivery partnerships; healthcare research tied to medication adherence and chronic disease care; palliative care arrangements; health data interoperability; and board refreshment or other governance actions.
Humana Inc. (NYSE: HUM) and The Humana Foundation have committed over $1 million in COVID-19 relief for communities in Georgia. The support includes a $500,000 contribution to the Community Foundation for Greater Atlanta’s COVID-19 Response Fund and $350,000 to the Food as Medicine program. Other donations address food security, health, and housing initiatives, including $25,000 for eviction assistance. Humana focuses on long-term community support to address health equity and improve well-being, especially in areas heavily impacted by COVID-19.
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CarePlus Health Plans, a subsidiary of Humana, has achieved the highest quality rating, a 5-Star rating from the Centers for Medicare & Medicaid Services for the 2021 plan year. This marks the third consecutive year and fourth overall for this rating. CarePlus serves approximately 164,300 members in Florida, emphasizing member experience and collaboration with healthcare providers. The 5-Star rating is based on over 40 quality measures across nine categories, including member satisfaction and health service quality.
Humana Inc. (NYSE: HUM) announced its Medicare Star Ratings for its Medicare Advantage plans, with a notable achievement of a 5-star rating for its CarePlus Health Plans in Florida for the third consecutive year, covering around 164,300 members. Additionally, the company attained a 4.5-star rating for three contracts across seven states. Overall, 92% of its Medicare Advantage membership is in plans rated 4 stars or higher. Humana's ratings reflect its commitment to quality care amidst the ongoing pandemic.
Humana Inc. (NYSE: HUM) is expanding its Medicare Advantage offerings by adding plans in four new New Jersey counties: Essex, Monmouth, Union, and Atlantic. This increases its reach to 17 counties, covering 80% of the state. A new Humana Honor Plan will be introduced, specifically aimed at military veterans, providing a $0 premium option without prescription coverage. The Annual Election Period for these plans runs from Oct. 15 to Dec. 7, with coverage effective Jan. 1, 2021. This initiative continues Humana's efforts to enhance health care accessibility for New Jersey residents.
Humana Inc. (NYSE: HUM) released its annual Value-based Care Report, highlighting that 2.41 million individual Medicare Advantage members experienced improved health outcomes and reduced costs due to value-based payment models. In comparison to fee-for-service models, Humana members received preventive screenings 8% to 19% more frequently and spent 211,000 fewer days in hospitals. The report indicated that $4 billion in medical expenses were avoided by members under these agreements. The findings underscore the effectiveness of value-based care in enhancing patient health and lowering healthcare costs.
Humana Inc. (NYSE: HUM) has expanded its collaboration with Fresenius Medical Care North America (FMCNA) to enhance care for members with chronic kidney disease (CKD) and end-stage renal disease (ESRD). Starting January 1, 2021, the agreement will broaden care coordination services to an additional 39 states, aiming to improve health outcomes and reduce care costs. Key initiatives include transitional care units and a value-based agreement for dialysis services. This partnership aligns with federal initiatives for early kidney disease treatment and home dialysis adoption.
Humana Inc. (NYSE: HUM) has announced an in-network agreement with Centura Health in Colorado Springs, aimed at expanding care access for Medicare Advantage HMO members. The partnership allows Humana members to utilize Centura's Penrose-St. Francis Health Services, effective January 1, 2021. This collaboration aligns with Humana's commitment to enhance healthcare options and quality for their Medicare demographic. The two organizations emphasize their shared mission to provide high-quality healthcare to the local community.
Grand View Health and Humana Inc. (NYSE: HUM) have entered an agreement to provide in-network access for Humana Medicare Advantage members in southeast Pennsylvania. This includes Grand View Hospital and its outpatient locations, effective November 1, 2020. The deal enables access to primary care providers and specialists within Grand View Health. This collaboration aims to enhance local healthcare access and quality for Humana members, reflecting both organizations' commitment to whole-person health and improving health outcomes.
Humana Inc. (NYSE: HUM) will announce its 3Q20 financial results on November 3, 2020, at 6:30 a.m. Eastern time, followed by a conference call at 9:00 a.m. to discuss the earnings. Interested parties can join the call by dialing 888-625-7430 or via a webcast on Humana’s Investor Relations page. The earnings release will include non-GAAP financial measures, which will be reconciled to GAAP figures. Humana aims to improve health outcomes and lower costs while providing various healthcare services to its members.