Humana Inc.HUM recently announced that it has expanded the health plan choices for Medicare beneficiaries in six New Hampshire counties. The expansion involves multiple new Humana Medicare Advantage (MA) plan offerings during the 2018 MA and Prescription Drug Plan Annual Enrollment Period (AEP).
The new Humana MA PPO plans would offer the members affordable alternatives to original Medicare or original Medicare paired with a Medicare Supplement plan. These plans would enable members to reap all the benefits of original Medicare and prescription drug plans.
Humana Medicare plans would be available at no or low monthly plan premiums along with low co-payments for doctor visits and annual routine physical check-ups. These also provide coverage for most of the annual screenings free of cost along with a broad network of physicians, specialists and hospitals, and worldwide emergency coverage.
This apart, the Humana MA health plans would provide members access to its nurse support service and to Silver Sneakers which is a specially designed exercise program. Silver Sneakers offers free fitness center memberships to nearly all of its Medicare Advantage members.
MA has significantly grown on the back of demographic changes in the U.S. health. Revenues from the managed-care plans of MA are likely to grow as baby boomers retire. Players in the industry like UnitedHealth Group, Inc. UNH , Anthem Inc. ANTM , WellCare Health Plans, Inc. WCG and others have been engaged in mergers and acquisitions, joint ventures and partnerships to strengthen their presence in the Medicare market.
Humana has always remained focused on revenue and margin growth of its Medicare business. To achieve these long-term targets, the company improved its marketing and sales strategies which not only boosted the overall retention rate of existing Medicare members but also drove new enrollment rate for the company's Medicare plans.
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