Human Insure: Insuring Millions

Humana is a for-profit American health insurance company based in Louisville, Kentucky. It is the fourth-largest health insurance provider in the U.S. and has been in operation since 1961. The number of medical members in Humana has generally increased between 2008 and 2022, with total medical membership numbers increasing from approximately 11.6 million in 2008 to approximately 17.1 million as of 2022.

In 2022, Humana had 17.1 million medical members in the US

Humana Inc. is a for-profit American health insurance company headquartered in Louisville, Kentucky. It is the fourth-largest health insurance provider in the United States. In 2022, Humana had 17.1 million medical members in the US.

Humana was founded in 1961 as a nursing home company by lawyers David A. Jones Sr. and Wendell Cherry. The company grew rapidly and diversified over the years, eventually changing its name to Humana Inc. in 1974 to reflect its commitment to providing a higher level of care. In the 1980s, as the American healthcare system underwent significant changes, Humana created its own health insurance plan and began to focus more on health insurance than hospital operations.

By 1993, Humana had become the largest hospital operator in the country, owning 77 hospitals. However, the company spun off its hospital operations and sold them for $3.4 billion. This shift in focus towards health insurance proved successful, and Humana continued to expand and thrive in the industry.

Today, Humana offers a range of health insurance products, including individual and family plans, Medicare Advantage plans, prescription drug plans, and more. They have a broad network of in-network providers, making it convenient for their members to access healthcare services. Humana also provides additional benefits, such as dental, vision, and hearing coverage, which are not typically included in Original Medicare plans.

In recent years, Humana has received recognition for its Medicare Advantage plans, being named the Best Overall Medicare Advantage Plan Company by U.S. News & World Report for two consecutive years. With its strong market presence and commitment to providing quality healthcare services, Humana continues to play a significant role in the US health insurance landscape.

Humana is the fourth-largest health insurance provider in the US

Humana Inc. is a for-profit American health insurance company headquartered in Louisville, Kentucky. It is the fourth-largest health insurance provider in the US, with a history that dates back to 1961.

The company was originally founded as a nursing home company by lawyers David A. Jones Sr. and Wendell Cherry. It grew to become the largest nursing home company in the US and, in 1974, the partners changed the name to Humana Inc. The new name was intended to reflect a higher level of human care and a more humane approach to patient treatment.

Humana expanded its business in the following years, both organically and through acquisitions. By 1993, it had become the largest hospital operator in the country, owning 77 hospitals. The company has continued to evolve, and in 2021, it turned its focus towards the home healthcare business.

Today, Humana offers a range of health insurance plans, including individual and family coverage, Medicare Advantage plans, and specialty programs. In 2023, the company projected a growth of at least 625,000 Medicare Advantage members, reflecting a year-over-year increase of 13.7%. As of January 2023, Humana's individual Medicare Advantage membership stood at 5.06 million.

Humana's broad network of providers ensures easy access to healthcare services, including doctors, dentists, vision care providers, and pharmacies, across the country. The company also provides additional benefits, such as routine dental, vision, and hearing care, to its members. With its comprehensive offerings and strong membership growth, Humana has established itself as a significant player in the US health insurance industry.

In 2022, 25.6 million non-elderly people in the US were uninsured

The decrease in the number of uninsured people in the US in 2022 was driven by an increase in employer-sponsored, Medicaid, and non-group coverage among non-elderly adults. The increase in employer-sponsored coverage is particularly notable, as employment-based plans account for more than half of the population with insurance. Additionally, the continuous enrollment provision in Medicaid and enhanced subsidies in the Marketplace put in place during the COVID-19 pandemic also contributed to the decline in the uninsured rate.

Despite the overall decrease in the number of uninsured people, racial and ethnic disparities in coverage persist. People of colour make up 45.7% of the non-elderly US population but account for 62.3% of the total non-elderly uninsured population. Non-elderly adults are also more likely to be uninsured than children, with an uninsured rate of 11.3% for adults compared to 5.1% for children.

The high cost of insurance is a significant factor in why people are uninsured. In 2022, 64% of uninsured non-elderly adults cited the cost of coverage as the main reason for lacking insurance. Many uninsured people do not have access to coverage through their jobs, and some may be ineligible for financial assistance or have undocumented immigrant status, which makes them ineligible for federally funded coverage.

The consequences of being uninsured can be severe, as people without insurance have lower access to care and are more likely to delay or forgo treatment due to costs. Uninsured people often face unaffordable medical bills, which can quickly lead to medical debt, especially for those with low or moderate incomes.

In 2022, 89.8% of people under 65 years had medical insurance in the US

In 2022, 89.8% of people under 65 years of age in the United States had medical insurance. This figure represents a record low number of uninsured Americans, with 26 million people, or 7.9% of the population, lacking coverage. This is a significant improvement from 2021, when the uninsured rate was 8.3%. The decrease in the uninsured rate is partly due to policies implemented during the COVID-19 pandemic, such as expanded eligibility for Medicaid and the Children's Health Insurance Program (CHIP). These programs, along with employment-based insurance, were the primary sources of coverage for Americans in 2022.

The decline in the uninsured rate from 2021 to 2022 was driven by an increase in employer-sponsored, Medicaid, and non-group coverage among nonelderly adults. The number of uninsured nonelderly individuals dropped by nearly 1.9 million from 2021 to 2022, and the uninsured rate decreased from 10.2% to 9.6%. This decrease continued a downward trend that began during the pandemic, with coverage protections put in place to safeguard individuals from coverage losses and improve the affordability of private coverage.

While the overall number of uninsured individuals in the US decreased in 2022, it is important to note that racial and ethnic disparities in coverage persist. Non-elderly Hispanic and American Indian and Alaska Native individuals are more than 2.5 times more likely to be uninsured compared to their White counterparts. Additionally, undocumented immigrants are ineligible for federally funded coverage, further contributing to disparities in access to healthcare.

The decrease in the uninsured rate in 2022 is a positive development, as health insurance is crucial for ensuring timely access to healthcare services and protecting individuals from catastrophic costs associated with serious illnesses. However, despite these gains, it is important to continue working towards achieving universal healthcare coverage and addressing disparities in access to healthcare for vulnerable populations.

Humana offers dental and vision insurance plans

Humana is a for-profit American health insurance company based in Louisville, Kentucky. It is the fourth-largest health insurance provider in the US. The company was founded in 1961 as a nursing home company by lawyers David A. Jones Sr. and Wendell Cherry. In 1974, the partners changed the corporate name to Humana Inc.

The individual dental insurance plan offers affordable dental coverage and an extensive provider network. The individual vision coverage plan can be added to any insurance plan and offers savings on preventive care, brand-name products, and more.

Humana's Medicare Advantage plans include routine dental and vision coverage. This includes two free dental cleanings a year, dental X-rays once every five years, and an annual allowance for eyeglasses or contact lenses.

Humana also offers the Humana Extend 5000 plan, which combines dental, vision, and hearing insurance into one plan. This plan provides coverage beyond the basics, including preventive dental exams, cleanings, and teeth whitening, as well as preventive vision and hearing exams. The plan has a $5000 calendar year maximum per covered person.

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