Humana Inc


Humana Inc. Is an American company specializing in health insurance. The corporation is headquartered in Louisville, Kentucky. It was originally called Extendicare and operated as private nursing homes. Taking advantage of the opportunities provided by the Medicare government program launched in the mid-1960s, their company grew rapidly, the number of sanatoriums reaching 40. In 1968, the partners decided to build on their success in the direction of hospitals, and in 1972 – completely switch to them, selling the network of sanatoriums. In 1974 the company was renamed Humana.

In 1978, Humana acquired American Medicorp. By 1982, the number of hospitals owned by the company reached 90, but further growth became difficult due to changes in legislation, so Humana expanded its scope of activities into a related industry – health insurance. In the early 1990s, the health insurance business grew out of the hospitals business, which it decided to spin off as a separate company.

Six months later, Galen was taken over by Columbia Hospital Corporation (later Columbia/HCA). In the second half of the 1990s, Humana acquired a number of health insurance companies. In 1998, an unsuccessful attempt was made to take over Humana by the UnitedHealth Group. Another takeover attempt was made by Aetna, but it was blocked by a US federal judge as violating antitrust laws. Health insurance usually covers drug and alcohol rehabilitation and other mental health treatments.
Activity
Humana Inc. serves more than 20 million customers in the United States, about 75% of its turnover comes from contracts with the federal government. The most important state for the company is Florida, accounting for 12.1% of turnover, and other significant regions: Texas (6.6%), Kentucky (4.5%), Georgia (4.2%), California (3.7 %), Ohio (3.4%), Illinois (3.3%).

The main divisions of the company:

Retail — individual health insurance; insurance premiums make up the bulk of the division’s turnover and the company as a whole ($ 46.5 billion in 2016, of which $ 40 billion under the Medicare program, $ 2.6 billion under the Medicaid program).
Group — collective health insurance for employees and military personnel (in 1996, the company signed a contract with the US Department of Defense); turnover in 2016 amounted to $ 7 billion.
Healthcare Services — Healthcare services, mainly pharmaceutical supply programs; turnover – $ 25 billion, but it is almost entirely accounted for by other divisions of the company.
Contact Information
Official site: https://www.humana.com/

Leave a Reply

Your email address will not be published. Required fields are marked *