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Humana (HUM) to Support Eligible Medicaid Members in Louisiana
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Humana Inc. (HUM - Free Report) was recently informed by the Louisiana Department of Health (LDH) about winning a contract award soon from the authorized body. The leading player in the health insurance industry is chosen to provide health care coverage to Medicaid beneficiaries in the state. The state contract will provide an initial three-year term of service, effective later in 2022, with the option of renewal terms thereafter.
The Medicaid division, namely Humana Healthy Horizons, is anticipated to begin working on the coverage in Louisiana in late 2022, subject to the state’s completion of its standard protest period. Through this pact, adults and children in the state of Louisiana are expected to benefit from better health outcomes as a result of Humana’s holistic, value-based approach. This move is rightly timed for thousands of Louisianans deprived of proper health care during the prevalent pandemic.
Humana is expected to provide better health outcomes by meeting the urgent and long-term needs of the local communities.
The leading health insurer is one of the five health plans chosen as part of a statewide Medicaid managed care procurement issued last year. The contract win looks to strengthen Humana’s presence across the region where it already boasts a robust Medicaid business.
HUM currently caters to around 450,000 Louisianans through its Medicare Advantage plans, Medicare prescription drug plans, commercial group health plans and the TRICARE military health care program.
One of its peers Centene Corporation (CNC - Free Report) is also selected by LHD to meet the needs of Medicaid enrollees across the state. CNC's new statewide contract will be effective Jul 1, 2022.
Humana's Medicaid business has been contributing a lion's share to its growth for a while. Revenues from Medicaid and other businesses increased 21% year over year in 2021.
The business line won contracts in Ohio during 2021, which significantly enhanced its geographical footprint. The health insurer now has existence in seven states, including Oklahoma, South Carolina and Wisconsin. The South Carolina plan is also on track, which is expected to go live in 2022.
Other companies boasting a solid Medicaid business line include Anthem, Inc. and Molina Healthcare, Inc. (MOH - Free Report) .
Anthem has also been gaining from its Medicaid business line so far. The acquisitions of Missouri and Nebraska Medicaid plans of WellCare Health in January 2020 also added around 300,000 Medicaid members under its coverage. Also, in November, ANTM agreed to acquire Integra Managed Care to expand its Medicaid business.
Molina Healthcare's Medicaid business has been aiding its overall growth for a while. MOH's Medicaid business line is expected to grow on the back of contract wins and strategic initiatives. In April 2021, MOH inked a deal to purchase Texas Medicaid and Medicare-Medicaid Plan (MMP) contracts and specific operating assets of Cigna for $60 million worth of cash.
Shares of Centene, Anthem and Molina Healthcare have gained 40.9%, 53.3% and 42.7% in a year’s time, respectively.
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Humana (HUM) to Support Eligible Medicaid Members in Louisiana
Humana Inc. (HUM - Free Report) was recently informed by the Louisiana Department of Health (LDH) about winning a contract award soon from the authorized body. The leading player in the health insurance industry is chosen to provide health care coverage to Medicaid beneficiaries in the state. The state contract will provide an initial three-year term of service, effective later in 2022, with the option of renewal terms thereafter.
The Medicaid division, namely Humana Healthy Horizons, is anticipated to begin working on the coverage in Louisiana in late 2022, subject to the state’s completion of its standard protest period. Through this pact, adults and children in the state of Louisiana are expected to benefit from better health outcomes as a result of Humana’s holistic, value-based approach. This move is rightly timed for thousands of Louisianans deprived of proper health care during the prevalent pandemic.
Humana is expected to provide better health outcomes by meeting the urgent and long-term needs of the local communities.
The leading health insurer is one of the five health plans chosen as part of a statewide Medicaid managed care procurement issued last year. The contract win looks to strengthen Humana’s presence across the region where it already boasts a robust Medicaid business.
HUM currently caters to around 450,000 Louisianans through its Medicare Advantage plans, Medicare prescription drug plans, commercial group health plans and the TRICARE military health care program.
One of its peers Centene Corporation (CNC - Free Report) is also selected by LHD to meet the needs of Medicaid enrollees across the state. CNC's new statewide contract will be effective Jul 1, 2022.
Humana's Medicaid business has been contributing a lion's share to its growth for a while. Revenues from Medicaid and other businesses increased 21% year over year in 2021.
The business line won contracts in Ohio during 2021, which significantly enhanced its geographical footprint. The health insurer now has existence in seven states, including Oklahoma, South Carolina and Wisconsin. The South Carolina plan is also on track, which is expected to go live in 2022.
Shares of the currently Zacks Rank #3 (Hold) player have gained 11.9% in a year’s time, underperforming its industry’s growth of 43.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other companies boasting a solid Medicaid business line include Anthem, Inc. and Molina Healthcare, Inc. (MOH - Free Report) .
Anthem has also been gaining from its Medicaid business line so far. The acquisitions of Missouri and Nebraska Medicaid plans of WellCare Health in January 2020 also added around 300,000 Medicaid members under its coverage. Also, in November, ANTM agreed to acquire Integra Managed Care to expand its Medicaid business.
Molina Healthcare's Medicaid business has been aiding its overall growth for a while. MOH's Medicaid business line is expected to grow on the back of contract wins and strategic initiatives. In April 2021, MOH inked a deal to purchase Texas Medicaid and Medicare-Medicaid Plan (MMP) contracts and specific operating assets of Cigna for $60 million worth of cash.
Shares of Centene, Anthem and Molina Healthcare have gained 40.9%, 53.3% and 42.7% in a year’s time, respectively.