Humana Insurance Anaylsis

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Executive Summary
As a Fortune 150 company with a 45-year history in the health industry and more than eleven million members under its wings, Humana has become one of the largest health benefit company in the U.S. With its slogan, “Guidance when you need it most”, Humana has gain their success through their diverse business units, outstanding wellness program and reliable customer service. The company is basically operates through two business division: government and commercial. The government division serves everyone who is enrolled in government-sponsored program such as Medicare, Medicaid and TRICARE. On the other hand, the commercial division handles employers groups and individuals under fully insured medical or specialty medical.
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The strategic alliance between State Farm and Humana widened Humana’s customer base by 7.5 million people, allowing State Farm to offer their customers Humana’s Medicare Part D prescription drug plan to eligible Medicare customers. Throughout this year, Humana also acquired CarePlus Health and Corp Health. This was advantageous for Humana because it again, widened their customer base and it also strengthened their team of employees. Humana’s big innovation for 2006 was the creation of their self-service search tool. This search tool provides HMHS clients with a web-based tool that provides an easy, question and answer forum that gives up to the minute answers for any questions that they might have. This product had a double affect on Humana; not only did it provide better customer service, but it also lowered the costs Humana spent on employees and customer service centers. Humana also received an award for the most innovative product of the year for its SmartSummary Rx product. This was significant in gaining consumer approval as the Medicare demographic nearly doubled. 2007 was another record year for Humana with its acquisition of KMG America and its purchase of Defense Web technologies. They also implemented their TriZetta Care Advance Enterprise System, partnered with the University of Miami, and hired an additional 530 employees. Humana Inc. seems to be starting their year off right, by winning the National Consumerism Award for their SmartSummary

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