Humana’s Medicare geographic reach to nearly double in 2006
Company to offer Medicare health plans in 46 states
LOUISVILLE, KY - Jun 7, 2005 - Humana Inc. (NYSE: HUM) announced today that it intends to nearly double the size of its Medicare geographic reach through its Medicare Health Plan product offerings filed with The Centers for Medicare & Medicaid Services (CMS). The company will increase its Medicare operations from 25 states to 46 in 2006.
Humana intends to offer both the stand-alone Medicare Prescription Drug Coverage (PDP) and Medicare Advantage Health Plan with Prescription Drug Coverage (MA-PD) in addition to its current Medicare product offerings.
"Because of the Medicare Modernization Act of 2003, Medicare Advantage now offers vastly expanded opportunities, including regional PPOs and prescription drug plans," said Michael B. McCallister, president and chief executive officer of Humana. "Our recent filings with CMS are designed to position Humana for continued success in the Medicare program providing consumers greater product choices and a superior health plan experience."
According to the timeline established by CMS, contracts are scheduled to be awarded to qualified health insurers in September with open enrollment slated to begin in November for the Jan. 1, 2006 effective date.
"Humana's goal is to help people learn as easily as possible more about Medicare health coverage options in 2006," said Stefen Brueckner, Humana's vice president for senior products. "Our customer service representatives will become sources of information about the new plan options. They'll be important points of contact for consumers as well as the doctors and hospitals in our expanding network."
Humana currently offers Medicare Advantage HMO and PPO health plans in nearly 40 markets nationwide as well as its private fee-for-service (PFFS) plan in eleven states with plans for expansion into more than twenty additional states in the coming months.
"As alternatives to traditional Medicare and supplement plans, Humana's benefit options offer more than just affordability," Brueckner continued. "Our SilverSneakers fitness program, available in most of our markets, coupled with Humana's industry-leading disease management programs and care-management services, are empowering members to be better health care consumers. Providing information to help consumers make informed decisions is crucial to having a meaningful and successful relationship between people with Medicare and their health benefits carrier."
"Humana's investment in our commercial and Medicare strategies over the past several years has allowed us to build a robust clinical program that will help Medicare consumers better understand how to use their prescription drug benefits," said William Fleming, PharmD, Humana's vice president of pharmacy and clinical integration. "We intend to accomplish CMS' goal of providing affordable, quality pharmaceutical care by being a trusted educational resource for our senior consumers so members can get the best value out of their health benefits."
The forward-looking statements included in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in Humana's Form 10-K for the year ended December 31, 2004 and its Form 10-Q for the quarter ended March 31, 2005, as filed with the Securities and Exchange Commission.
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