Humana Expects Medicare PDP Membership ‘Headwind’ in 2021
November 12
Judging by executives’ comments during its third-quarter 2020 earnings conference call, Humana Inc. is finding it difficult to stand out in the fiercely competitive market for stand-alone Medicare Prescription Drug Plans (PDPs).
Humana President and CEO Bruce Broussard, in his prepared remarks on Nov. 3, explained that the Medicare-focused insurer made major changes to its PDP portfolio for 2020 after experiencing “meaningful PDP membership losses in 2019.” The company combined two plans “to create space” to offer a new low-premium plan co-branded with Walmart, which became the most competitively priced offering in the majority of regions where Humana competes and thus “grew substantially by adding almost 1 million members,” Broussard said.
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