Humana: Understanding Private Insurance And Its Benefits

Humana is a private health insurance company that offers a wide range of healthcare-related individual insurance products, including health, dental, and vision plans. The company also provides life and supplemental insurance plans. Humana's history dates back to the 1960s when it started as a nursing home company and eventually became the largest hospital operator in the country. Today, Humana is based in Louisville, Kentucky, and is the third-largest healthcare company in the US, serving over 13 million customers. The company offers various insurance plans, including HMO, PPO, POS, and EPO, and is committed to helping individuals, families, and businesses find the right coverage options to meet their unique needs.

Humana's history

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 was ranked 42 on the Fortune 500 list in 2023.

The company was founded in 1961 by lawyers David A. Jones Sr. and Wendell Cherry as a nursing home company called Extendicare. By 1968, it had become the largest nursing home company in the United States. In 1972, Jones and Cherry sold the nursing home chain and began purchasing hospitals. In 1974, they changed the company's name to Humana Inc., reflecting their goal of providing a higher level of humane care.

In the late 1970s, Humana experienced significant growth, both organically and through the takeover of American Medicorp Inc. in 1978, which doubled the company's size. During this period, Humana developed the double corridor model for hospital construction, which minimised the distance between patients and nurses. By the 1980s, Humana had become the world's largest hospital company.

In the 1980s, as the American healthcare system underwent changes, Humana expanded into the health insurance market. This shift occurred after one of Humana's hospitals lost a contract with a local health maintenance organisation, leading the company to create its own health insurance plan. In 1993, Humana became the largest hospital operator in the country, owning 77 hospitals. That same year, they spun off hospital operations from health insurance operations, creating Galen Health Care, which was later sold to Columbia Hospital Corporation of America.

In the 1990s, Humana transitioned into a consumer health benefits company, focusing on providing group health insurance, Medicare plans, and health and supplemental insurance plans to individuals. In 1998, United Healthcare attempted to acquire Humana but failed due to a significant drop in United's stock value.

In the 2000s, Humana continued to evolve and expand its business. In 2005, they partnered with Virgin Group, offering financial incentives to members who engaged in healthy behaviours. In 2006, Humana collaborated with the Centers for Disease Control and Prevention (CDC) to innovate population health management approaches. That same year, they launched RightSource, a national mail-order retail pharmacy business, and an education campaign to market Medicare Advantage and Prescription Drug Plans nationwide.

In 2015, Humana announced the sale of Concentra, a healthcare services company, for about $1 billion. That same year, Aetna, another healthcare benefits company, proposed a merger with Humana for $37 billion. However, this merger was blocked by federal regulators in 2017 due to concerns about limiting competition and raising health insurance premiums.

In 2018, Humana acquired a 40% stake in Kindred Healthcare's home health, hospice, and community care businesses. The company continued to make acquisitions and expand its focus on home healthcare in the following years.

Humana's insurance products

Humana is a private insurance company that offers a range of health insurance products and services to individuals, families, and employers. The company provides both individual and group plans, including medical, dental, and vision insurance.

For individuals and families, Humana offers tailored insurance products that can be customized to meet specific needs. The company's individual dental insurance provides affordable coverage and access to an extensive provider network. Humana's individual vision coverage can be added to any insurance plan, allowing clients to save on preventive care and brand-name products.

Humana also offers Medicare plans with various options, such as Medicare Advantage plans, prescription drug plans, and Medication Therapy Management. The Healthy Options Allowance helps eligible plan members pay for approved expenses at participating retailers, including groceries, over-the-counter products, and even rent and utilities.

Additionally, Humana provides group insurance plans through employers, including group dental, vision, and life insurance plans. These plans are offered by Humana Insurance Company and its subsidiaries, ensuring comprehensive coverage for employees.

With a focus on accessibility and inclusivity, Humana complies with applicable Federal civil rights laws and provides free language interpreter services. The company also offers online support, a MyHumana account management system, and a customer care team to assist with any queries or concerns.

Humana's insurance plans

Humana offers a range of insurance plans for individuals, families, and employers. These include health, dental, and vision insurance plans, as well as Medicare plans.

Humana's individual and family health insurance plans are designed to be more than just coverage—they aim to be a health partner for life. These plans can be tailored to fit the needs of the individual or family, with a diverse portfolio of plans and specialty programs. Humana's individual dental insurance provides affordable dental coverage and an extensive provider network. Their individual vision coverage can help save money on preventive care and brand-name products, and it can be added to any insurance plan.

Humana also offers Medicare plans, with options such as Medicare Advantage plans and prescription drug plans. During Medicare's Open Enrollment Period, individuals can explore and compare different Humana plans based on their needs and budget.

Additionally, Humana provides group insurance plans for employers, including group dental, vision, and life insurance plans. These plans are available through an employer and are tailored to the specific needs of the business and its employees.

Overall, Humana strives to provide a comprehensive range of insurance plans that cater to the diverse needs of individuals, families, and businesses, ensuring that their health and well-being are supported.

Humana's insurance coverage

Humana is a health insurance company that offers a range of insurance products, including individual and family health insurance plans, Medicare plans, and dental and vision insurance. Humana's individual and family plans can be tailored to fit the needs of the customer. For example, customers can choose from a variety of PPO and high-deductible health plans and add on "extras" such as supplemental accident benefits, dental benefits, prescription drug coverage, and term life insurance.

Humana's individual dental insurance offers affordable coverage and an extensive provider network. Their individual vision coverage can help customers save money on preventive care and brand-name products, and it can be added to any insurance plan.

Humana also offers Medicare plans, with the Open Enrollment Period starting on October 15. Humana can help customers compare plans based on their needs and budgets.

In addition to insurance products, Humana provides a range of tools and resources to help members get the most out of their health benefits. For example, members can compare doctors and hospitals by performance ratings and price, use online tools to plan and budget healthcare expenses, and access ID cards, claims, in-network providers, and drug pricing through the MyHumana account.

Humana's insurance eligibility

Humana is a private insurance company that offers a range of health insurance products and services, including individual and family plans, Medicare plans, and Medicaid plans.

Individual and Family Plans:

Humana offers individual and family health insurance plans that can be tailored to meet the specific needs of its clients. These plans can include dental and vision coverage, added to any insurance plan, which provides savings on preventive care and brand-name products.

Medicare Plans:

Humana provides Medicare plans with different options, such as Medicare Advantage plans and prescription drug plans. They assist individuals in choosing the best plan based on their requirements and budget. The Medicare Open Enrollment Period, starting on October 15, allows individuals to enrol and obtain coverage for the remainder of the year.

Medicaid Plans:

Medicaid is a health insurance program that provides coverage for individuals who meet specific income guidelines, qualified families and children, pregnant women, seniors, and people with disabilities. The eligibility requirements and enrollment process vary by state. Humana offers Medicaid plans in select states, including Florida, Illinois, Kentucky, Louisiana, Ohio, and South Carolina.

Eligibility Requirements:

It is recommended to refer to the official Humana website or contact their customer support for detailed information on specific insurance eligibility requirements, as they may vary based on the type of plan and the individual's circumstances.

Frequently asked questions