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For Humana Incorporation: Health Care Insurance and Financial Status

I am currently working for Humana Incorporation. Humana Incorporation is a non-profit organization providing “managed health care” in 50 states across the United States. Currently, the company offers different health care plans and insurance policies to over 11 million customers in the country. The organization accepts various health care insurances. The first health care insurance accepted is the Health Maintenance Organizations (HMOs). The organization accepts this insurance plan because it limits coverage. The patients or customers will get the required services from a list of hospitals and doctors within a specified network. The organization accepts this insurance option because it makes it easier to provide consistent insurance policies to its customers. As well, the incorporation accepts Preferred Provider Organizations (PPOs) and POS insurance plans whereby a person can get health care outside or within a specific network. This makes it possible for the organization to provide quality care to its customers. The organization accepts such plans to provide both life and disability insurance policies.

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The organization does not accept High Deductible Health Plan (HDHP) insurance policies. These plans have reduced premiums in comparison with other plans. As well, the organization does not accept Catastrophic Health Insurance Plan (CHIP). These plans are usually availed to a few individuals in the marketplace thus making them unsustainable. These plans also have high “deductibles”. This makes them uncommon in the country.

Humana Incorporation is both an urban and rural organization because it markets its insurance plans and health care services to potential patients and customers across the country. The incorporation markets health insurance to individuals in Puerto Rico and all the states in the US. This explains why the incorporation is the leading marketer of health insurance. The other important thing is that the company does not disclose much of the information related to customers’ compensation. However, the uncompensated care for the organization is below 25 percent.

Based on the organization’s Payor Mix, it would be agreeable that Humana Incorporation is doing well financially. According to Fortunes 100, Humana Inc. is the leading company in terms of revenues. The company’s “market cap” stands at $13 billion. From the organization’s information, it would be notable that the organization is doing well financially. Since 1990, the company has been purchasing and acquiring new organizations thus making it a leading player in the industry. This explains why Humana is performing well financially. It has also been able to provide its services to the military thus becoming a leading marketer of different health care policies to many people in the United States.

In 2010, President Barrack Obama signed the Patient Protection and Affordable Care Act (also known as the Affordable Care Act) into law. The Affordable Care Act (ACA) was necessary towards reducing health care costs and expenses for the American citizen. The law would also improve the quality and availability of insurance cover to the people. The new legislation would help provide the best care to American citizens. That being the case, the incorporation began to provide various insurance plans to many people. The ACA made it possible for more people to access cheaper and better health insurance. From the available information, the financial status of the organization has not changed significantly since the enactment of the ACA in 2010. The incorporation has acquired new companies such as Arcadian, MD Care, and Anvita. This is a clear indication that Humana Incorporation has continued to perform well financially.

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StudyCorgi. (2022, April 21). For Humana Incorporation: Health Care Insurance and Financial Status. Retrieved from https://studycorgi.com/for-humana-incorporation-health-care-insurance-and-financial-status/

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StudyCorgi. (2022, April 21). For Humana Incorporation: Health Care Insurance and Financial Status. https://studycorgi.com/for-humana-incorporation-health-care-insurance-and-financial-status/

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StudyCorgi. 2022. "For Humana Incorporation: Health Care Insurance and Financial Status." April 21, 2022. https://studycorgi.com/for-humana-incorporation-health-care-insurance-and-financial-status/.

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StudyCorgi. (2022) 'For Humana Incorporation: Health Care Insurance and Financial Status'. 21 April.

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