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Humana's (HUM) 2024 MA Plans Promise a Wider Set of Benefits
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Humana Inc. (HUM - Free Report) recently unveiled its Medicare Advantage plans for 2024, which beneficiaries can opt for during the Medicare Advantage and Prescription Drug Plan Annual Election Period (AEP), which will run from Oct 15, 2023, till Dec 7, 2023. The plans have been built with the help of in-depth research about the needs of Medicare-eligible consumers and thereby, provide them with comprehensive and cost-effective health plan choices.
Next year, Humana aims to introduce its Medicare Advantage plans across 39 U.S. counties, some of which are Mono, Litchfield, Adams, Clark, Fremont, Jefferson, Clayton, Dubuque, Calvert and Charles. Overall, its Medicare HMO offerings are targeted to reach 140 counties in 2024, while its Medicare LPPO plans are likely to be available across 80 counties in the same time frame, thereby welcoming 762,000 Medicare-eligible individuals under HUM’s customer base.
54%-plus estimated Medicare members of Humana are likely to enjoy access to a $0 monthly premium plan in 2024 and this represents a 15% increase from the 2023 figure. Additionally, HUM has stacked its plans with several other healthcare benefits this time.
Its Medicare Advantage plan members will be subjected to dental, vision and hearing benefits as well as enjoy access to a network of participating dental providers spread across the United States. They will also be entitled to prescription drug coverage for several common generic prescriptions plus the option to avail doorstep deliveries of prescription and over-the-counter medications through CenterWell Pharmacy.
Humana Medicare Advantage Dual-eligible Special Needs Plans will also be there to support individuals eligible for both Medicare and Medicaid, who will enjoy $0 copays throughout the year on covered Part D prescriptions. Next year, it aims to expand such plans across 116 counties. Every Humana USAA Honor plan, designed to benefit military veterans, will carry no premium in 2024 and these plans are likely to reach 84 new counties next year.
Humana’s Open Network Medicare Advantage PPO plans, available across selective markets, enable members to consult any nationwide doctor accepting Medicare without the need for a referral. Advancements have also been made to its Prescription Drug Plans, which are offered by private health insurers to provide coverage for prescription drugs not covered by Original Medicare. The updates will come in the form of Humana Walmart Value Rx and Humana Premier Rx plans.
Humana’s latest announcement is prudent since the AEP seems to be knocking on the door. During the period, more Medicare-eligible individuals are expected to enroll in Humana’s plans, given its multiple lucrative features. This, in turn, is expected to expand its customer base and bring higher premiums, which are the most significant contributor to the top line of a health insurer. Through its Medicare Advantage business, HUM covers 94% of U.S. counties, which seems commendable.
Humana boasts an expansive Medicare business, which comprised around 8.7 million members across 50 states, Washington, D.C., and Puerto Rico, as of Jun 30, 2023. Management anticipates individual Medicare Advantage membership to witness a minimum growth of 825,000 in 2023. HUM also pursues alliances with physicians and well-established healthcare professionals in order to grow the Medicare business.
Shares of Humana have gained 10.2% in the past three months compared with the industry’s 5.1% growth. HUM currently carries a Zacks Rank #3 (Hold).
IRadimed’s earnings surpassed estimates in each of the last four quarters, the average surprise being 12.83%. The Zacks Consensus Estimate for IRMD’s 2023 earnings indicates a rise of 26.4%, while the consensus estimate for revenues suggests an improvement of 22% from the respective year-ago actuals. The consensus mark for IRMD’s 2023 earnings has moved 6.1% north in the past 60 days.
The bottom line of Addus HomeCare beat estimates in each of the trailing four quarters, the average beat being 7.57%. The Zacks Consensus Estimate for ADUS’s 2023 earnings indicates a rise of 13.7%, while the consensus estimate for revenues suggests an improvement of 10.4% from the respective year-ago actuals. The consensus mark for ADUS’s 2023 earnings has moved 0.7% north in the past 60 days.
Alcon’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 8.03%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a rise of 22.8%, while the consensus estimate for revenues suggests an improvement of 9.5% from the respective year-ago actuals. The consensus mark for ALC’s 2023 earnings has moved 0.7% north in the past 30 days.
Shares of IRadimed, Addus HomeCare and Alcon have declined 10.2%, 8.1% and 8.3%, respectively, in the past three months.
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Humana's (HUM) 2024 MA Plans Promise a Wider Set of Benefits
Humana Inc. (HUM - Free Report) recently unveiled its Medicare Advantage plans for 2024, which beneficiaries can opt for during the Medicare Advantage and Prescription Drug Plan Annual Election Period (AEP), which will run from Oct 15, 2023, till Dec 7, 2023. The plans have been built with the help of in-depth research about the needs of Medicare-eligible consumers and thereby, provide them with comprehensive and cost-effective health plan choices.
Next year, Humana aims to introduce its Medicare Advantage plans across 39 U.S. counties, some of which are Mono, Litchfield, Adams, Clark, Fremont, Jefferson, Clayton, Dubuque, Calvert and Charles. Overall, its Medicare HMO offerings are targeted to reach 140 counties in 2024, while its Medicare LPPO plans are likely to be available across 80 counties in the same time frame, thereby welcoming 762,000 Medicare-eligible individuals under HUM’s customer base.
54%-plus estimated Medicare members of Humana are likely to enjoy access to a $0 monthly premium plan in 2024 and this represents a 15% increase from the 2023 figure. Additionally, HUM has stacked its plans with several other healthcare benefits this time.
Its Medicare Advantage plan members will be subjected to dental, vision and hearing benefits as well as enjoy access to a network of participating dental providers spread across the United States. They will also be entitled to prescription drug coverage for several common generic prescriptions plus the option to avail doorstep deliveries of prescription and over-the-counter medications through CenterWell Pharmacy.
Humana Medicare Advantage Dual-eligible Special Needs Plans will also be there to support individuals eligible for both Medicare and Medicaid, who will enjoy $0 copays throughout the year on covered Part D prescriptions. Next year, it aims to expand such plans across 116 counties. Every Humana USAA Honor plan, designed to benefit military veterans, will carry no premium in 2024 and these plans are likely to reach 84 new counties next year.
Humana’s Open Network Medicare Advantage PPO plans, available across selective markets, enable members to consult any nationwide doctor accepting Medicare without the need for a referral. Advancements have also been made to its Prescription Drug Plans, which are offered by private health insurers to provide coverage for prescription drugs not covered by Original Medicare. The updates will come in the form of Humana Walmart Value Rx and Humana Premier Rx plans.
Humana’s latest announcement is prudent since the AEP seems to be knocking on the door. During the period, more Medicare-eligible individuals are expected to enroll in Humana’s plans, given its multiple lucrative features. This, in turn, is expected to expand its customer base and bring higher premiums, which are the most significant contributor to the top line of a health insurer. Through its Medicare Advantage business, HUM covers 94% of U.S. counties, which seems commendable.
Humana boasts an expansive Medicare business, which comprised around 8.7 million members across 50 states, Washington, D.C., and Puerto Rico, as of Jun 30, 2023. Management anticipates individual Medicare Advantage membership to witness a minimum growth of 825,000 in 2023. HUM also pursues alliances with physicians and well-established healthcare professionals in order to grow the Medicare business.
Shares of Humana have gained 10.2% in the past three months compared with the industry’s 5.1% growth. HUM currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Medical space include IRadimed Corporation (IRMD - Free Report) , Addus HomeCare Corporation (ADUS - Free Report) and Alcon Inc. (ALC - Free Report) . While IRadimed currently sports a Zacks Rank #1 (Strong Buy), Addus HomeCare and Alcon carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
IRadimed’s earnings surpassed estimates in each of the last four quarters, the average surprise being 12.83%. The Zacks Consensus Estimate for IRMD’s 2023 earnings indicates a rise of 26.4%, while the consensus estimate for revenues suggests an improvement of 22% from the respective year-ago actuals. The consensus mark for IRMD’s 2023 earnings has moved 6.1% north in the past 60 days.
The bottom line of Addus HomeCare beat estimates in each of the trailing four quarters, the average beat being 7.57%. The Zacks Consensus Estimate for ADUS’s 2023 earnings indicates a rise of 13.7%, while the consensus estimate for revenues suggests an improvement of 10.4% from the respective year-ago actuals. The consensus mark for ADUS’s 2023 earnings has moved 0.7% north in the past 60 days.
Alcon’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 8.03%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a rise of 22.8%, while the consensus estimate for revenues suggests an improvement of 9.5% from the respective year-ago actuals. The consensus mark for ALC’s 2023 earnings has moved 0.7% north in the past 30 days.
Shares of IRadimed, Addus HomeCare and Alcon have declined 10.2%, 8.1% and 8.3%, respectively, in the past three months.