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Having nearly nine million members spread over mainly in 15 states
and Puerto Rico, Humana is one of the largest publicly traded health
benefit companies in the United States. The company’s headquarters
is located in Louisville, Kentucky. It provides coordinated health
insurance coverage and related services to employer groups, government-sponsored
plans and individuals. People having Humana coverage get access
to hundreds of thousands of doctors across the country. For instance,
Humana's ChoiceCare Network includes more than 320,000 physicians
and ancillary care providers in 50 states and the District of Columbia,
serving 1.3 million PPO members. The company has been given ratings
A-/B+ and BBB/A- by A.M. Best and S&P respectively.
In business for about 50 years, Humana believes in embracing change
and seizing opportunities that help to transform its business. Its
objective is to become the most trusted name in the field of health
Humana offers to members coordinated health insurance coverage
and related services, such as consumer-driven health plans, administrative
services products, health maintenance organizations (HMO), preferred
provider organizations (PPO), government-sponsored plans, products
for individuals. It also offers specialty products like dental coverage,
life and disability insurance, health resources, resources for chronic
or long term needs etc. that complement its core health products.
HumanaOne, the company’s individual insurance plans, offers
consumers lasting value because of Humana's experience, nationwide
presence and ability to secure cost-saving discounts. HumanaOne
insurance plans provide members the type of flexible, reliable coverage
that consumers are seeking, with many of the features one usually
finds only in group plans.
Humana also offers some excellent health plans for employers. These
plans moderate their health care costs and transform passive users
into enthusiastic health care consumers. Since the introduction
of its SmartSuite plans, participating employers have experienced
sustained annualized claims trend in the 5-6 percent range, compared
to a national health cost inflation rate of 12-14 percent per year
during the same period.
SmartStartSM is an important component of SmartSuite that can model
various contribution strategies. It helps employers determine which
contribution and plan combinations will achieve their desired goals.
Its effectiveness was indicated when a recent actuarial study of
156 employer groups with SmartSuite showed an annualized claims
trend of just five percent.
SmartExpress is a modified version of SmartSuite that offers companies
with 2 to 299 employees a choice of health plan options to help
them maintain health coverage for their employees and give them
some of the benefits available through SmartSuite.
In addition to consumer-driven plans like SmartSuite and SmartExpress,
Humana also offers the latest cost-containment option: Health Savings
Accounts (HSA). With these newly introduced HSAs, consumers have
found an excellent way to save for health care tax-free and plan
for future medical needs. Humana's HSAs, available to people having
group or individual coverage, also include the HumanaAccessSM Visa®
card, which makes it easier to spend funds from an HSA as well as
from a Flexible Spending Account (FSA) or a Personal Care Account
(PCA). HSAs are available in Humana's Smart products to employers
with as few as a couple of employees to large national accounts.
HumanaChoicePPO, Humana Gold Choice® (Private Fee-For-Service
Plans), Humana Gold Plus (HMO Plans), and Humana's Prescription
Drug Plans are options offered by the company either to enhance
or replace Medicare.