Humana to Discontinue Select Medicare Advantage Plans, Affecting 600,000 Members
Humana, a prominent U.S. healthcare company, has announced its decision to discontinue certain Medicare Advantage plans. This strategic move is projected to impact approximately 600,000 members across the country. The company's Chief Financial Officer indicated that while a significant number of members will be affected, Humana aims to re-enroll a substantial portion of them into other plans. The primary rationale behind these changes is to streamline Humana's offerings and prioritize higher-performing plans within its portfolio. Currently, Humana serves over 11 million Medicare Advantage enrollees, with a significant presence in states like Illinois, where over 336,000 members reside, and Indiana, with more than 222,000 members. Affected members are advised to anticipate receiving an 'annual notice of change' in their mailboxes between September 15th and October 15th, which will detail the specific plans being terminated.
