Humana is an insurance company founded in 1961 that offers a wide range of health insurance plans primarily in the United States. The company has over 11 million customers and had over 39 billion in revenue in 2012. Alongside Medicare insurance products, Humana also sells individual and family, dental, and vision health insurance plans. Humana’s health insurance plans are offered both on public (federally-facilitated and state) as well as private exchanges.
Humana offers several distinct Medicare-related insurance products:
Medicare Advantage – Medicare Advantage plans are also called Medicare Part C. Medicare Advantage covers original Medicare (Part A & B) with additional benefits such as wellness programs. Medicare Part A covers hospital or nursing facility costs as well as hospice and home healthcare. Medicare Part B covers doctor’s visits and outpatient care as well as some preventive services. It also covers services Part A excludes such as certain occupational and physical therapy services. HealthPocket conducted a study which found 97% of Medicare Advantage plans offered at least one vision, dental, or hearing benefit, with vision benefits being the most common additional benefit.
Humana offers the following types of Medicare Advantage Plans1:
Medicare Part D prescription drug plans (PDP) – Original Medicare (Part A & B) does not cover prescription drugs. Humana offer stand-alone drug plans providing prescription drug coverage. See the formulary of the prescription drug plan to review which drugs are covered and at what cost-sharing level.
Medicare Supplement (Medigap) – Supplement plans also known as Medigap plans are purchased to help cover out-of-pocket costs not covered by Medicare Part A & B. There are 10 standard Medigap plan types in 47 states (Massachusetts, Minnesota, and Wisconsin have unique plan designs) though Humana does not offer all Medigap plans in all states. Prescription drug coverage is not included in Medigap plans.2
Pharmacy – Humana offers a mail order pharmacy program called RightSource® that bring prescriptions to the residence of members. RightSource® allows you to fill prescriptions three months at a time, speak directly to a pharmacist, possibly save money with 90-day pricing, and each new prescription is reviewed by a pharmacist.
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