Humana to exit employer insurance business to focus on government plans

Signage for Humana Inc. is pictured at a health facility in Queens, New York City, U.S., November 30, 2021. REUTERS/Andrew Kelly/File Photowill exit the employer-based insurance business over the next 18 to 24 months, it said on Thursday, to focus primarily on government-backed programs such as Medicare for people aged 65 and older and its specialty businesses.

The U.S. insurer raised its forecast for the Medicare Advantage program it sells directly to individuals to at least 775,000 members from 625,000 on higher-than-anticipated sales and retention early in this year."The exit from the commercial group business makes strategic sense as it enables the company to focus resources on medicare advantage business," J.P. Morgan analyst Lisa Gill said in a note, adding that the brokerage believes the market viewed the business as non-core.

Its employer group insurance business includes both fully-insured health insurance plans purchased by employers, as well as employer-sponsored health plans run by Humana.

Go where the most consistent revenue is

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Humana to exit Employer Group Commercial Medical Products business over next 18 to 24 monthsHumana Inc. said Thursday it has decided to exit the Employer Group Commercial Medical Products business, which includes fully insured, self-funded and...
Source: MarketWatch - 🏆 3. / 97 Read more »