Humana will be participating in health insurance exchanges in 14 states, up from the company's previous prediction of 10 online marketplaces, CEO Bruce Broussard said Wednesday.
"We expect the exchange products to include primarily HMO offerings, with select market presence with each of the 14 states, ensuring we are offering a competitive and cost-effective value," Broussard said, according to Business First.
Although he only identified Mississippi as one of the states where Humana would sell plans on an exchange, Broussard said the insurer is prepared to enter the 14 exchanges. "Tactical plans for sales, enrollment and retention (related to the plans) are well into the implementation phase," he said.
But Broussard added Humana is keeping a cautious outlook regarding the exchanges, having already created contingency plans in case of technology issues during the initial rollout, Reuters reported.
Broussard announced the exchange plans while releasing Humana's second-quarter earnings report. The insurer's net income grew 18 percent to $420 million from $356 million in last year's second quarter, while revenue rose 6.4 percent to $10.3 billion.
To learn more:
- here's the Humana earnings report
- read the Reuters article
- see the Business First article