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Finding the right Medicare supplement plan is a lot like trying on jeans. Some don’t fit quite right and searching for the right one can lead to frustration. Each Medicare supplement plan has its own unique benefits, eligibility, pros, and cons. Having all the gritty details on the plans will help you find the perfect one for you. We’re highlighting one of the more well-known companies who provide Medicare supplement plans, Humana. Could this be your medicare supplement perfect fit? Keep reading to find out.
Humana has gone through several changes to become the company it is today. Humana was started in 1961 by David A. Jones Sr. It was originally a nursing home company called Extendicare. In 1972, the company transitioned into the hospital business under the new name Humana. Then, in 1993, Humana decided to move into the healthcare company that we are familiar with. Today, Humana has 13 million customers and is the third-largest health insurance provider in the United States.
Humana offers eight Medicare gap plans to help cover the out-of-pocket expenses (copays, coinsurance, deductibles) that arise with Medicare. Medicare also does not cover costs like eye exams, dental care, hearing aids, eyeglasses, or prescription drugs.
Humana has overall very positive market reviews for their medicare supplement plans. ConsumerAdvocate.com gives Humana’s medicare supplement plans an overall score of 9/10 due to “its offerings, customer experience, and financial stability.” Humana offers 8 out of the 10 Medigap plans, therefore covering a wide range of benefits. They also offer add-ons like dental and vision. We’ll be covering the specific Medicare plans that Humana offers later on in this article. Additionally, RetirementLiving mentions Humana on its Best Medicare Supplement Plans list. RetirementLiving notes that Humana offers the best perks with their plans, “Each Humana policy comes with perks not found with other Medicare supplement insurance companies.”
Despite its overall good reviews from other companies, it should be noted that Humana has received a higher-than-average number of customer complaints. The National Association of Insurance Commissioners (NAIC) reported 136 total complaints on Humana Supplement Plans in 2016. The reviews about Humana on ConsumerAffairs have an average rating of just 2 stars out of 5. Many of customers explain how difficult it is to find doctors in their area that take Humana, and that representatives of Humana do not help with connecting them to services.
It is important to keep in mind that these reviews on ConsumerAffairs is for Humana as an overall Health Insurance company and are not necessarily directed at their Medicare supplement plans.
As mentioned above, Humana has been praised for its perks. As part of their Medicare Supplement Plans, Humana offers discounts if you pay your premiums automatically through a credit card or electronic bank drafts and members can access a nurse by phone 24/7. Humana also offers access to the Silver Sneakers fitness program. The program offers memberships to seniors at more than 16,000 participating gyms across the country. The program also offers fitness classes led by Silver Sneaker instructors.
Other neat perks that Humana offers includes the MyHumana Savings Center. Members can save up to 30 percent off health and wellness services like acupuncture, massage therapy, and chiropractic services. Members can also enjoy up to 40 percent off the retail price of glasses and discounts on eye exams, contacts, and Lasik procedures. Humana customers also have access to its National Transplant Network, which is a network of organ transplant and stem cell facilities across the country. Lastly, Humana has a secure online health record system so you can access your records on your smartphone during appointments.
In December 2018, Forbes Listed Humana as #11 on their list of companies that are doing right by America. The list details that Humana is a “health and well-being company focused on making it easy for people to achieve their best health with clinical excellence through coordinated care.” Humana also has an A+ rating from the Better Business Bureau (BBB).
The Humana Foundation is the philanthropic sector of the company. Since 1975, Humana and its foundation have raised and given over $286 million to community partners. The foundation has a scholarship program that has given more than $14.2 million to children of Humana associates for higher education funding. Walter D. Woods, the CEO of The Humana Foundation, comments, “As we look to our future at the Humana Foundation, we are excited about what this evolution of our strategy and approach could mean for Healthy Days in the communities we serve, particularly the health of people who often need the most support.”
If you’re a golf fan, you may already know that LPGA player Nancy Scranton is a notable spokesperson for Humana. Humana is also the official health benefits provider of the Champions and PGA Tour.