Humana Medicare Waiving Copays
Humana will maintain zero telehealth copays for several visit types in the Medicare Advantage Part D plans through next year, President and CEO Bruce Broussard said during the company's third-quarter conference call, as transcribed by Seeking Alpha.
- The change will apply to Humana's members in Medicare Advantage plans, the company said Tuesday, covering co-pays, co-insurance and deductibles at in-network providers from May 1 through the end.
- - (BUSINESS WIRE)-Mar. 30, 2020- Humana (NYSE: HUM), a national health care company, has announced it is waiving consumer costs for treatment related to COVID-19-covered services. The company previously announced that it would cover out-of-pocket costs related to coronavirus testing.
Humana Waiving Copays For Telehealth
He said the company would provide telehealth services for physician visits, urgent care and outpatient behavioral health and COVID-19 testing and treatment for Medicare Advantage Part D members in 2021. Members with a COVID-19 diagnosis also will receive 14 days of home-delivered meals and a health essential kit that includes items to prevent the spread of COVID-19 and the flu.
He also said the company also aims to stay competitive in the Medicare Advantage Part D prescription drug plan industry after sustaining membership losses in 2019. Humana made changes to its portfolio this year by combining two plans into a new low premium plan and co-branding the product with Walmart. The plan was priced competitively and gained nearly 1 million members, Mr. Broussard said. He said he hopes to stay competitive in the prescription drug plan market with low premium plans.
'We've taken a disciplined approach to pricing, balancing membership growth and the overall impact to the enterprise,' he said. 'As a result, the Walmart value plan will not be the lowest cost leader in 2021, but is priced in a similar range to other low premium plans with competitive benefits. However, one plan sponsor is an outlier with an offering price well below the rest of the market.'
Humana Medicare Waiving Copays
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For the 2021 plan year, Humana will cover out-of-pocket costs for COVID-19 treatment for all Humana Medicare Advantage medical plan members. Members will have no copays, deductibles or coinsurance out-of-pocket costs for covered services for treatment of confirmed cases of COVID-19, regardless of where the treatment takes place.