Humana Medicare Plans
Humana was founded as a nursing home company called Extendicare in 1961 by Wendell Cherry and David A. Jones, Sr. Extendicare soon became the largest nursing home company in the country. In 1972, the company shifted into purchasing hospitals, and soon became the world's largest hospital company during the 1980s. Expenditure became Humana Inc. in 1974, which was followed by years of growth and multiple acquisitions. Humana transitioned into a consumer health care company in the 1990s. The hospital portion of the business branched off from the health care portion to become Galen Health Care.
In the Present
Humana is headquartered in Kentucky and currently has over 11.1 million customers in the United States, making it the largest Fortune 100 Company in terms of revenue. Humana markets its health insurance services to all 50 states as well as to the District of Columbia, Puerto Rico, and parts of Western Europe and Asia.
Humana Medicare Supplement plans cover many of the costs that Original Medicare (Part A and Part B) does not cover. Medicare Supplement plans are generally standardized into ten plans labeled A through N. Not all insurance companies offer all of these lettered plans. Humana specifically offers Plans A, B, C, F, G, K, L, N, and High Deductible Plan F. The costs associated with these plans may differ but mostly include monthly premiums, annual deductibles, and other out-of-pocket expenses.
Humana Medicare Advantage plans must offer at least the same coverage as Original Medicare, and may offer additional benefits such as vision, dental, and prescription drug coverage. Humana offers a few different types of MA plans, so it is best to shop around to find the one that fits your needs. The different types include Humana Gold Choice (PFFS), Humana Gold Plus (HMO), and HumanaChoice (PPO).
Prescription Drug Plans
Humana Medicare Part D plans provide coverage of many of the costs associated with prescription drug coverage. This coverage may come from either a stand-alone Prescription Drug Plan (PDP) or a Medicare Advantage plan with Prescription Drug coverage (MAPD). Humana offers three different types of drug plans that may include different formularies and out-of-pocket costs: Humana Walmart-Preferred Rx Plan (PDP), Humana Enhanced (PDP), and Humana Complete (PDP).