Roughly 560,000 members will need to find a new plan.
More than 500,000 Americans are scheduled to lose their Medicare Advantage plans now that major insurer Humana is leaving 13 markets across the country.The company's Chief Financial Officer Susan Diamond made the announcement during a Wells Fargo Healthcare Conference this month, saying roughly 560,000 members would need to find a new plan.That impacts roughly 10 percent of its Medicare Advantage participants.'Nearly all of those members have other options,' Diamond said.
'We are anticipating an even higher level of utilization in some of those services in the fourth quarter of 2024, just recognizing the benefit changes we've made for 2025,' Diamond said. 'If people get visibility to that, knowing that those benefits will be reduced, we do anticipate an even further elevated use of some of those benefits.'Earlier in the year, Humana said it would be ending some plans and cutting benefits for patients in 2025 due to financial concerns.
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