The History Of Humana
Humana is one of the leading health and well-being companies in the United States. Their focus is to make it easy for individuals to maintain their best health with excellence through coordinated care. Some of their strategies include care delivery, proactive outreach clinically, clinical and consumer insights and member experiences. In the year 2016, over 70 percent of their total services revenue and total premiums were from the federal government, fourteen percent of which was derived from their individual Medicare Advantage contracts with are in Florida with CMS. Under CMS they provided health insurance coverage to almost 600,000 members as of December of 2016. (Annual Report, 2016)
The birth of Humana was in 1961, where it was founded …show more content…
Although now known as Humana one of the leading managed care health companies. When Jones found it, it was a nursing home company that went by the name of Extendicare. Eleven years later in 1972, stripping of the nursing home business, he transferred into the hospital business. In 1974 Humana was official as a corporate name. In the 1990’s is when the business actually assumed responsibility in the hospital world. In the late 1990’s Humana and UnitedHealth Group had a plan to merge in a deal that was worth over 5 and a half billion dollars. This deal did not take place, because that same year UnitedHealth Group had over a billion dollars in quarterly losses that same year. In July of 2015, Humana entered into a merger agreement with Aetna Inc. and certain owned subsidiaries of Aetna. Within this agreement a year later, there was a civil antitrust complaint filed by the Department of Justice and some attorney generals, stating that the merge could possibly violate Section 7 of the Clayton Antitrust Act. In February of this year, Humana and Aetna agreed to mutually terminate the Merger Agreement (Annual Report, …show more content…
This model consists of providing quality care, engagement of members that are high and data analytics. With the delivery model in place, the core elements include simplifying interaction between the member and themselves and engaging members in clinical programs. Humana have participated in the Medicare program for private health plans over the past thirty years. They offer a minimum of one type of Medicare plan in every state. Some strategies for Medicare includes health assessments and guidance programs such as fitness programs. This allows seniors to be guided in making decisions that are cost-effective in relevance to their health care. As of 2016, Humana provided health insurance coverage to approximately 2,837,600 Medicare Advantage members and this includes about 598,100 members in the state of Florida alone. The Florida contracts accounted for premium revenue of over 7 and a half billion which accumulates to over 24 percent of Humana’s individual Medicare Advantage premiums revenue (Annual Report,
The birth of Humana was in 1961, where it was founded …show more content…
Although now known as Humana one of the leading managed care health companies. When Jones found it, it was a nursing home company that went by the name of Extendicare. Eleven years later in 1972, stripping of the nursing home business, he transferred into the hospital business. In 1974 Humana was official as a corporate name. In the 1990’s is when the business actually assumed responsibility in the hospital world. In the late 1990’s Humana and UnitedHealth Group had a plan to merge in a deal that was worth over 5 and a half billion dollars. This deal did not take place, because that same year UnitedHealth Group had over a billion dollars in quarterly losses that same year. In July of 2015, Humana entered into a merger agreement with Aetna Inc. and certain owned subsidiaries of Aetna. Within this agreement a year later, there was a civil antitrust complaint filed by the Department of Justice and some attorney generals, stating that the merge could possibly violate Section 7 of the Clayton Antitrust Act. In February of this year, Humana and Aetna agreed to mutually terminate the Merger Agreement (Annual Report, …show more content…
This model consists of providing quality care, engagement of members that are high and data analytics. With the delivery model in place, the core elements include simplifying interaction between the member and themselves and engaging members in clinical programs. Humana have participated in the Medicare program for private health plans over the past thirty years. They offer a minimum of one type of Medicare plan in every state. Some strategies for Medicare includes health assessments and guidance programs such as fitness programs. This allows seniors to be guided in making decisions that are cost-effective in relevance to their health care. As of 2016, Humana provided health insurance coverage to approximately 2,837,600 Medicare Advantage members and this includes about 598,100 members in the state of Florida alone. The Florida contracts accounted for premium revenue of over 7 and a half billion which accumulates to over 24 percent of Humana’s individual Medicare Advantage premiums revenue (Annual Report,