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Humana Medicare Insurance Plans
Based in Louisville, Kentucky, Humana is one of the largest insurance carriers in the United States. The company was originally founded in 1961 as a chain of nursing homes. Eleven years later, in 1972, the owners sold their nursing homes and began buying hospitals. After numerous names changes, the company became Humana in 1974. It wasn't until the 1980s, though, that Humana created its first health insurance plan.1
In 2006, Humana became a driving force in marketing Medicare Advantage (MA) and prescription drug plans to Medicare beneficiaries. Today, Humana offers a wide range of Medicare Advantage, Part D, and Medicare Supplement Insurance (Medigap) plans.
Humana Medicare Advantage Plans
Humana sells a variety of Medicare Advantage plans. As with all MA plans, benefits and costs vary widely according to the plan you choose. However, all MA plans offer at least the same coverage as you get with Original Medicare. Options include:
- HMO plans: Health maintenance organization plans, better known as HMOs, are typically the most cost-effective option. Members must use providers within the plan's network and typically need a referral to see a specialist. Most of Humana's HMO plans include prescription drug coverage. And some areas offer $0 premium plans.
- PPO plans: Preferred provider organization plans (PPOs) typically offer a bit more freedom than HMOs. They have a provider network, but members are usually able to see providers outside the network for a higher out-of-pocket cost. Also, you don't usually need a referral to visit a specialist.
- PFFS plans: Private-fee-for-service, or PFFS plans, let you visit any Medicare-approved provider who accepts your plan.
- SNPs: Special Needs Plans are available for beneficiaries who meet certain qualifications, such as having a chronic condition or being eligible for both Medicare and Medicaid (also known as dual eligibility).
Many Humana plans offer additional benefits. The most common is prescription drug coverage. But plans may also include coverage for SilverSneakers and routine dental, vision, and hearing, none of which you get with Original Medicare.
Please note that you must continue paying your Medicare Part B premium, even if your MA plan has a monthly premium.
Humana Medicare Prescription Drug Plans
Humana offers beneficiaries three main Part D prescription drug plans for 2020:
- Humana Walmart Value Rx Plan: Available in 47 states plus Washington, D.C. The pharmacy network includes access to preferred cost-sharing benefits at Walmart, Walmart Neighborhood Markets, and Sam's Club retail pharmacies, and from the Humana pharmacy® mail delivery.
- Humana Premier Rx Plan: This plan has the broadest coverage Humana offers in terms of drug formulary and in-network pharmacies.
- Humana Basic Rx Plan: Humana's most cost-conscious plan, this plan offers affordable copays as low as $0 to $1, once you meet your deductible (which in 2021 is $445), for most covered generic drugs filled at network pharmacies.
When choosing a Medicare Part D plan, always look at the formulary to ensure it includes your prescriptions. Also, consider all out-of-pocket costs, not just the monthly premium. Even a $0 premium can be too high if the formulary doesn't cover your medications or your annual deductible is too high.
Find a Humana Medicare Plan
Choosing the right Humana Medicare plan to meet your unique needs and budget can be extremely confusing. Our Find a Plan tool is easy to use and completely free. Just enter your location information and coverage start date. Then, hit Continue to start reviewing Medicare plans in your area.
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