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.
© 2023 MMIT
Meet Our Reporters
-
Lauren Flynn Kelly Executive Editor, AIS Health, and Managing Editor, Radar on Medicare Advantage
View Lauren Flynn Kelly's Profile -
Angela Maas Managing Editor, Radar on Specialty Pharmacy and Spotlight on Market Access
View Angela Maas's Profile -
Leslie Small Managing Editor, Health Plan Weekly and Radar on Drug Benefits
View Leslie Small's Profile -
Peter Johnson Reporter, Health Plan Weekly and Radar on Drug Benefits
View Peter Johnson's Profile -
Tim Casey Reporter, Health Plan Weekly and Radar on Drug Benefits
View Tim Casey's Profile -
Carina Belles Reporter, Radar on Medicare Advantage and Spotlight on Market Access
View Carina Belles's Profile -
Jinghong Chen Reporter, Health Plan Weekly and Radar on Drug Benefits
View Jinghong Chen's Profile