During Humana’s recent earnings call, the health insurance company announced it will drop some of its Medicare Advantage plans in the coming months. According to the Company’s Chief Financial Officer, Humana anticipates the plan exits will impact approximately 600,000 members, “though we will work to recapture a significant portion of that volume”.
These changes are happening so Humana can “prioritize higher performing plans,” the health insurance giant said.
According to the Center for Medicare Services (CMS) Dashboard, Humana has more than 11 million Medicare Advantage enrollees. Of those, more than 336,000 are in Illinois, and more than 222,000 live in Indiana.
Humana has not yet said which specific Medicare Advantage plans are impacted, but there are certain things and dates to watch for.
“They need to be looking for the annual notice of change, which should be in their mailbox between September 15th and October 15th,” Jennifer Chumbley Hogue, a health policy analyst with Medicare Resources said told NBC 5 Responds. “And it’s printed on the envelope, annual notice of change.”
Your Next Steps:
If you learn your coverage is being dropped, don’t panic. You have options. Chumbley Hogue says you should start by calling your doctors and ask them what Medicare Advantage plans they accept. This will help narrow down your choices.
You can also use Medicare.gov or local agent and find what the best plan is for you in 2027.
If Humana is terminating your plan, you can also consider a standard Medicare plan coupled with Medigap insurance. Remember, if your coverage is ending, you’ll need to select a new plan during the annual election period between October 15th and December 7th.
NBC 5 Responds reached out to Humana for comment. As of publication, we have not received a response.
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