Humana Announces Strategic Alliance with CUNA Mutual Group
CUNA Mutual's Call Center, Delegated Sales Agents to Offer Full Line of Humana Medicare Products to 9.5+ Million Credit Union Members Eligible for Medicare Benefits
06/22/2008
LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana Inc. (NYSE: HUM) today announced an alliance that unites it as a leader in Medicare health insurance products with a premier financial services provider. The relationship, between Humana and CUNA Mutual Group, makes it possible for Humana's Medicare products to be offered by CUNA Mutual's call center and field-based agents to 9.5+ million credit union members age 65 and over.
Humana's Medicare products include Medicare Advantage, a health insurance plan which combines Original Medicare's underpinnings with additional health and wellness benefits; Medicare Part D prescription drug coverage; and Medigap, also called Medicare Supplement.
"We know that millions of Americans place a tremendous amount of trust with their credit unions, and relationships such as this new Humana - CUNA Mutual relationship are vital to Humana's continued success as one of the nation's leading Medicare Part D health-benefit plan sponsors," said Lance Hoeltke, vice president of strategic alliances with Humana.
Humana's Medicare sales channels includes trusted alliance partners such as CUNA Mutual, career agents, telesales agents, web-based sales, sales transacted in large venues and seminars, those which take place at any of the nation's Humana Guidance Centers, or in face-to-face interactions with Medicare beneficiaries.
"Partnering with Humana to provide their Medicare products to our credit union customers is the right decision with the right company at the right time," said Andy Napoli, senior vice president and product group leader of consumer products at CUNA Mutual. "Competition for baby boomers' business is heating up among financial institutions, and with good reason. Within credit unions, more than 24 million members are over 55. This is also a tough group to retain.
"For boomer retirees, Medicare will be welcomed as a safe haven of coverage. It is the most widely available health care solution for retirees – insuring more than 45 million Americans. We're thrilled to be able to offer this product to our customers and their members."
About CUNA Mutual
CUNA Mutual group is a leading provider of financial services to credit unions, their members and valued customers worldwide. With more than 70 years of market commitment, CUNA Mutual's vision is unwavering: to be a trusted business partner who delivers service excellence and customer-focused, best-in-class products and market-driven innovation. More information on the company is available at www.cunamutual.com.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation's largest publicly traded health and supplemental benefits companies, with approximately 10.4 million medical members. Humana is a full-service benefits solutions company, offering a wide array of health and supplementary benefit plans for employer groups, government programs and individuals.
Over its 48-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the Investor Relations page of the company's web site at http://www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases
- Replays of most recent earnings release conference calls
- Calendar of events (includes upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors)
- Corporate governance information
Contacts
Humana Corporate Communications
Susan Dunlap, 502-580-1088
sdunlap@humana.com