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Humana Expects 1.2 Million in Medicare Drug Plan on January 1
Dec.31, 2005 - Humana Inc. expects enrollment in
its Medicare plans to surpass 1.7 million on January 1, 2006, compared
to approximately 503,000 Medicare members at the end of its fiscal third
quarter on September 30, 2005. Almost 1.2 million will be in
the stand-along Medicare prescription drug plan.
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The company said it was encouraged by the robust
response to its new plan offerings, made possible by the 2003 Medicare
Modernization Act, and reaffirmed its 2006 guidance for Medicare
membership and earnings per share.
Sales from a variety of channels, together with the
auto-assignment from the Centers for Medicare and Medicaid Services
(CMS) of 595,000 dual-eligible members (those enrolled in both Medicare
and Medicaid), have led the company to project January 1, 2006
enrollment of between 1.1 million and 1.2 million for its stand-alone
prescription drug plan (PDP) products.
Membership in the company's Medicare Advantage
plans as of January 1, 2006 is anticipated to be in the range of 650,000
to 675,000, driven by growth in private fee-for-service plans.
Based on the results to date, the company
reaffirmed its guidance for 2006 ending Medicare membership of between
1.7 million and 2.2 million stand-alone PDP members and between 900,000
and 1.1 million Medicare Advantage members. Humana also reaffirmed its
2006 guidance for diluted earnings per common share of at least $2.70.
"We're pleased by the volume of response to all our
Medicare products, both existing and new," said Michael B. McCallister,
Humana's president and chief executive officer.
"People's willingness to sign up for the new
prescription drug plans shows that the people eligible for Medicare in
this country are doing a very good job of figuring out where the value
is.
"For the first time since Medicare was launched 40
years ago, these plans are meeting Medicare consumers' needs for quality
prescription coverage that's both affordable and accessible."
The company's Medicare sales distribution channels
include: a unique partnering arrangement with Wal-Mart whereby
Humana-employed agents are afforded store space to sell both a
co-branded PDP product and Humana's Medicare Advantage products;
arrangements with State Farm and USAA to exclusively sell Humana's PDP
products; direct enrollment via both the CMS web site and Humana's own
web site; independent agents and brokers including relationships with
AAA of the South, and American Republic Insurance Company; and telephone
sales agents.
Each of these distribution channels has contributed
to the growth in the company's Medicare membership. Humana's level of
PDP enrollment through the CMS web site is particularly noteworthy.
Since the site went live on November 15, 2005, approximately 190,000
people with Medicare have used this venue to enroll in Humana's plans.
"The CMS site offers apples-to-apples price and
coverage comparisons of PDP plans from dozens of different companies,"
McCallister said. "The fact that so many people have chosen Humana plans
on the basis of these comparisons shows the value Humana brings to
seniors."
The company also has seen strong results from its
nationwide alliance with Wal-Mart, with more than 60 percent of Medicare
Advantage sales to date through this distribution channel.
McCallister said the company's burgeoning call
center volume is a further sign of encouragement and extends Humana's
successful "Let's Talk" campaign that features one-on-one guidance for
seniors and their families. On average, more than 50,000 callers per
weekday have been seeking information about Humana's Medicare offerings
since mid-December.
"We are receiving a lot of calls from adult
children of Medicare beneficiaries," he said.
"As the holidays approach, we encourage people with Medicare to spend
time with their families and determine which plans are best for them."
About Humana
Humana Inc., headquartered in Louisville, Kentucky,
is one of the nation's largest publicly traded health benefits
companies, with approximately 7 million medical members. Humana offers a
diversified portfolio of health insurance products and related services
- through traditional and consumer-choice plans - to employer groups,
government-sponsored plans, and individuals.
Over its 44-year history, Humana has consistently
seized opportunities to meet changing customer needs. Today, the company
is a leader in consumer engagement, providing guidance that leads to
lower costs and a better health plan experience throughout its
diversified customer portfolio.
More information regarding Humana is available to
investors via the Investor Relations page of the company's web site at
http://www.humana.com,
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