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Commercial health insurance

Commercial health insurance

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Running Head: HUMANA VS. ANTHEM INC. 1

Humana vs. Anthem Inc.

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HUMANA VS. ANTHEM INC.

Humana vs. Anthem Inc.

Commercial health insurance has grown considerably over the years across the world.

The commendable growth is attributed to the fact that health is both a right and a basic human

need. Humana and Anthem health insurance are among the top commercial health insurance

companies in the U.S today. However, these two companies depict differences and similarities in

how they handle health insurance.

Humana has grown immensely since its incorporation in the 1960s as a health insurance

provider, founded by David A. Jones and Wendell Cherry (Humana, 2020). The company is

domiciled in Louisville, Kentucky. It is a Medicare Advantage preferred provider organization

(PPO), health maintenance organization (HMO), and private fee-for-service (PFFS) company

that provides drug prescription coverage and Medicare Advantage plans. The organization also

associates with managed care plans for specific government programs. Humana is operational

through the following three segments: Group and Specialty, Retail, and Healthcare services. The

company had a fourth segment, individual commercial, which it exited early 2018 (Humana,

2020). Each of the segments has products attached to them. The group and specialty segment

offer employer-group full insurance commercial medical products and specialty health insurance

benefits offered to both individuals and groups. It includes vision, dental, military services, and

any other supplemental health and voluntary insurance benefits. On the other hand, the retail

segment consists mainly of Medicare benefits, including vision, dental, supplemental health, and

financial protection products. The final segment, healthcare services, accord the insured clinical

care, pharmacy solutions, provider services, informatics services, and predictive modeling. The

plans extend to external health plan members, other Humana associated businesses, and external

health plans. Humana offers health cover to over 20 million people in the United States (Jasso-

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Running Head: HUMANA VS. ANTHEM INC. Humana vs. Anthem Inc. Name Department and Institution Course Number and Name Lecturer’s Name Date 1 HUMANA VS. ANTHEM INC. 2 Humana vs. Anthem Inc. Commercial health insurance has grown considerably over the years across the world. The commendable growth is attributed to the fact that health is both a right and a basic human need. Humana and Anthem health insurance are among the top commercial health insurance companies in the U.S today. However, these two companies depict differences and similarities in how they handle health insurance. Humana has grown immensely since its incorporation in the 1960s as a health insurance provider, founded by David A. Jones and Wendell Cherry (Humana, 2020). The company is domiciled in Louisville, Kentucky. It is a Medicare Advantage preferred provider organization (PPO), health maintenance organization (HMO), and private fee-for-service (PFFS) company that provides drug prescription coverage and Medicare Advantage plans. The organization also associates with managed care plans for specific government programs. Humana is operational through the following three segments: Group and Specialty, Retail, and Healthcare services. The company had a fourth segment, individual commercial, which it exited early 2018 (Humana, 2020). Each of the segments has products attached to them. The group and specialty segment offer employer-group full insurance commercial medical products and specialty health insurance b ...
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