Humana Inc. (HUM)

Overview

Humana Inc., with its array of subsidiaries, stands as a major provider of medical and specialty insurance products across the United States. Initially established in 1961 and undergoing a name change from Extendicare Inc. to Humana Inc. in April 1974, the company is ingrained in the fabric of U.S. healthcare, having its roots and headquarters in Louisville, Kentucky. The organization operates through two primary segments: Insurance and CenterWell, showcasing a broad spectrum of health-related services and insurance products. Its purpose is deeply intertwined with offering extensive insurance coverage and healthcare services, primarily targeting individuals, employee groups, and military personnel.

Products and Services

Humana Inc.’s range of products and services underscores its commitment to providing comprehensive healthcare and insurance solutions. Here is a breakdown of its key offerings:

• Medical and Supplemental Benefit Plans: These plans are tailored for individuals, extending medical coverage and various supplemental health benefits.
• Medicare and Medicaid Services: Humana has a pivotal role in administering the Limited Income Newly Eligible Transition (LINET) program for prescription drugs. Additionally, it holds contracts with numerous states to deliver Medicaid, dual eligible, and long-term support services benefits, ensuring coverage for a broad spectrum of the population.
• Commercial Insurance Benefits: Offering commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and life insurance. These are designed not only for individuals but also for employer groups, providing a comprehensive safety net of supplemental health benefits.
• Military Services: Through the TRICARE T2017 East Region contract, Humana also supports military services, providing vital health coverage to service members and their families.
• Pharmacy Benefit Manager: The company’s involvement in pharmacy benefit management allows it to offer tailored pharmacy services, optimizing the prescription drug process for improved efficiency and cost-effectiveness.
• Primary Care Centers and Home Solutions: Humana goes beyond traditional insurance services by operating pharmacies and senior-focused primary care centers. Furthermore, it presents a range of home solutions services, which include home health, hospice, and other essential health services, catering to the needs of its health plan members and the wider community.