Humana and USAA Launch Medicare Advantage Plan for Veterans

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Leading insurer Humana, along with USAA Life Insurance Company, will roll out a new Medicare Advantage plan for veterans, which aims to supplement health care benefits received through Veterans Affairs.

This new co-branded Humana USAA Honor with Rx plan, available to anyone eligible for Medicare, is offered in eight states starting in 2023 and offers veterans the ability to see local network physicians and fill prescriptions at nearby pharmacies. at home, outside the VA system. It is the only Medicare Advantage plan developed in partnership with the USAA.

The new plan is available throughout Pennsylvania and in select markets in Texas, Michigan, Ohio, Indiana, Arizona, California and Hawaii.

Humana introduced its Honor Medicare Advantage plans in 2020; this is the first time an Honor plan has included prescription drug coverage. Humana’s Honor Plans are available to anyone eligible for Medicare, but they’re designed to work alongside the benefits a veteran receives through VA health care, the insurer said.

WHAT IS THE IMPACT

Humana touted a number of plan features, including a $0 monthly premium. It will also offer a Part B premium rebate ranging from $40 to $75 (depending on the plan) in the individual’s Social Security check each month.

The plan also has no copayments for Level 1 and copayments of $5 or less for Level 2 prescriptions at any network retail pharmacy for a one-month supply, with no deductible; a USAA Health Flex card with $250 or more per year to be used for covered dental, vision, and hearing services in select markets; and preventative dental coverage with two free cleanings per year, plus $1,000 or more per year to cover many dental bills, including cleanings and exams.

Veterans and Medicare households have access to Humana customer service specialists who have worked with USAA to receive special training, the companies said.

Humana Honor Medicare Advantage plans are available in more than 2,000 counties and all include Part B premium reimbursement as well as dental, vision, and hearing coverage. Most plans also have an allowance to help purchase approved OTC products ranging from $100 to $1,200 per year.

THE GREAT TREND

The annual enrollment period for those eligible for Medicare runs from October 15 through December 7.

In an effort to simplify its organizational structure, Humana said in July it would shrink into two main units, Insurance Services and CenterWell, while launching an executive search for president of insurance and business services.

Executives said splitting the company into two units will encourage collaboration and accelerate ongoing work to centralize and integrate operations. The insurance services unit will include what is currently the retail, group and specialty segments, while CenterWell will encompass healthcare services. The executive search will focus on candidates with experience managing complex organizations.

The restructuring follows other organizational changes. In April, Humana signed a definitive agreement with private investment firm Clayton, Dubilier & Rice to divest a majority stake in Humana’s Kindred at Home subsidiary, KAH Hospice. Under the agreement, Humana will divest a 60% stake in KAH Hospice and receive cash proceeds of approximately $2.8 billion.

The division includes patient-centered services for palliative, palliative, community and personal care. Humana previously indicated its intention to divest a majority stake in these non-core businesses when it acquired the remaining stake in Kindred at Home in April 2021.

The strategy has always been to partner rather than own these business lines, according to Humana. This is in line with the company’s previously stated intention to divest the majority stake in the Hospice and Personal Care divisions, while retaining a strategic minority stake.

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