Humana

Humana. Humana is a health insurance company that provides a range of health insurance products and services to individuals, families, and groups, including Medicare and Medicaid beneficiaries, as well as Tricare beneficiaries, in partnership with the United States Department of Defense and the United States Department of Veterans Affairs. The company was founded in 1961 by David A. Jones Sr. and Wendell Cherry and is headquartered in Louisville, Kentucky, with operations in Florida, Texas, and California. Humana has partnerships with various healthcare providers, including Cleveland Clinic, Mayo Clinic, and Kaiser Permanente.

● History

Humana was founded in 1961 as a nursing home company called Extendicare, with the goal of providing high-quality care to seniors, in collaboration with organizations such as the American Health Care Association and the National Association of Health Care Assistants. Over the years, the company expanded its services to include hospitals, home health care, and health insurance, working with companies like UnitedHealth Group and Aetna. In the 1980s, Humana began to focus on health insurance, and in 1984, it was listed on the New York Stock Exchange (NYSE), with Goldman Sachs and Morgan Stanley serving as underwriters. The company has since grown through acquisitions, including the purchase of Arcadian Management Services in 2006, and partnerships with organizations like the American Medical Association and the National Committee for Quality Assurance. Humana has also worked with government agencies, such as the Centers for Medicare and Medicaid Services (CMS) and the Department of Health and Human Services (HHS), to provide health insurance to Medicare and Medicaid beneficiaries.

● Products_and_Services

Humana offers a range of health insurance products and services, including Medicare Advantage plans, Medicare Supplement plans, and Medicaid plans, in partnership with state governments, such as California Department of Health Care Services and New York State Department of Health. The company also offers individual and group health insurance plans, as well as dental insurance and vision insurance plans, through its subsidiaries, including HumanaDental and HumanaVision. Humana's health insurance plans are designed to provide comprehensive coverage, including access to a network of healthcare providers, such as Anthem, Inc. and Cigna, and discounts on health and wellness products and services, through partnerships with companies like Walgreens and CVS Health. The company also offers health and wellness programs, such as HumanaVitality, which provides rewards and incentives for healthy behaviors, in collaboration with organizations like the American Heart Association and the National Diabetes Association.

● Corporate_Affairs

Humana is led by a team of experienced executives, including Bruce D. Broussard, who serves as the company's president and chief executive officer, and has previously worked with companies like McKesson Corporation and US Oncology. The company's board of directors includes Kurt J. Hilzinger, who serves as the chairman of the board, and has experience working with organizations like the National Association of Corporate Directors and the Council of Institutional Investors. Humana is committed to corporate social responsibility, with a focus on improving the health and well-being of its members and the communities it serves, through partnerships with organizations like the American Red Cross and the United Way. The company has also been recognized for its commitment to diversity and inclusion, with awards from organizations like the Human Rights Campaign and the National Minority Supplier Development Council.

● Financial_Information

Humana is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol HUM, with J.P. Morgan Securities and Bank of America Merrill Lynch serving as its primary financial advisors. The company generates revenue through premiums, fees, and investment income, with a significant portion of its revenue coming from its Medicare Advantage business, which is administered in partnership with the Centers for Medicare and Medicaid Services (CMS). Humana has a strong financial position, with a significant amount of cash and investments on its balance sheet, and has been recognized for its financial performance, with awards from organizations like Fortune magazine and Forbes. The company has also been rated by credit rating agencies, such as Standard & Poor's and Moody's Investors Service, which have assigned Humana high credit ratings, reflecting its strong financial position and low credit risk.

● Controversies_and_Criticisms

Humana has faced controversies and criticisms over the years, including allegations of Medicare and Medicaid fraud, which have been investigated by government agencies, such as the Office of Inspector General (OIG) and the Department of Justice (DOJ). The company has also faced criticism for its business practices, including its use of prior authorization and step therapy, which have been opposed by organizations like the American Medical Association and the National Patient Advocate Foundation. Humana has also been involved in lawsuits, including a lawsuit filed by the United States Department of Justice (DOJ) alleging that the company had submitted false claims to Medicare, in partnership with the Federal Bureau of Investigation (FBI) and the Office of Inspector General (OIG). The company has denied any wrongdoing and has worked to resolve these issues, through settlements and agreements with government agencies, such as the Centers for Medicare and Medicaid Services (CMS) and the Department of Health and Human Services (HHS).