LOUISVILLE, Ky., Sept. 23 /PRNewswire-FirstCall/ -- Humana Inc. announced today that its HumanaOne line of individual health plans has grown, excluding the impact of acquisitions, to cover more than 100,000 people in 14 states, having reached that milestone in slightly more than two years.
The company, which for many years has provided health benefits to employer groups, launched HumanaOne in June, 2002, as its first large-scale venture into the market for individually purchased health insurance. The HumanaOne individual major medical plan is a comprehensive plan designed specifically for individuals and families who may not be insured through their employer, such as self-employed entrepreneurs, students, recent college graduates and early retirees.
As of August 31, 2004, HumanaOne membership excluding acquisitions stood at slightly more than 100,000. Humana added approximately 12,000 additional individual plan members in Louisiana through its April, 2004 purchase of Ochsner Health Plan of Louisiana.
"We chose to build this line of business ourselves from the ground up," said Tod Zacharias, vice president of Humana's small group and individual products segment. "This allowed us to design a plan uniquely suited to the needs of today's consumers -- a plan that balances affordability with comprehensive coverage. The market acceptance and rapid growth of HumanaOne show that consumers are finding significant value in Humana's approach."
Zacharias also attributes the plan's success to several specific features: - HumanaOne plans are priced to meet the consumer's budget needs, taking advantage of the discounts Humana negotiates in assembling its national provider network, which includes 3,200 hospitals, 40,000 pharmacies and more than 380,000 physicians and ancillary care providers in all 50 states and the District of Columbia. - HumanaOne health plans are portable. Thanks to Humana's national provider network, policyholders that move to a different state can simply take their HumanaOne plan with them, and those that travel or work outside their home area can receive in-network benefits from any of Humana's contracted hospitals, physicians and other health care professionals. - HumanaOne health plans are flexible, allowing consumers to choose one of four deductible levels, ranging from $500 to $5,000. The plans also include options for prescription drug coverage, and they provide a $5 million per person lifetime maximum benefit. - Humana has pioneered an underwriting system that connects applicants directly with underwriters by phone, helping speed the underwriting process and creating a smoother application experience for the consumer.
"We've seen a growing demand for individual coverage," said Zacharias. "As more people seek coverage in the individual market, Humana is well positioned to meet their needs."
Humana markets its HumanaOne plans through its national network of approximately 40,000 actively appointed independent insurance agents and brokers, while also promoting the plan to consumers via print and broadcast advertising. HumanaOne plans are currently available in Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Missouri, Ohio, Tennessee, Texas and Wisconsin.
Humana Inc., headquartered in Louisville, Ky., is one of the nation's largest publicly traded health benefits companies, with approximately 5.8 million medical members located primarily in 15 states and Puerto Rico. Humana offers coordinated health insurance coverage and related services -- through traditional and Internet-based plans -- to employer groups, government-sponsored plans, and individuals.
More information regarding Humana is available via the Internet at http://www.humana.com/ including:
- Annual report to stockholders; - Securities and Exchange Commission filings; - Most recent investor conference presentation; - Quarterly earnings press releases; - Audio archive of most recent earnings release conference call; - Calendar of events (includes upcoming earnings conference call dates, times, and access number, as well as planned participation in investor conferences); - Corporate Governance Information.
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Web site: http://www.humana.com/
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