By Anna Wilde Mathews

 

Humana Inc. said it would waive cost-sharing on primary care, behavioral health and telehealth visits by its Medicare members for the rest of the year.

The insurer, which said it believes it is the first to make such a move, said the financial impact is "meaningful" and will be part of its effort to disburse gains that come as a result of the widespread cancellation of elective procedures and other health care amid the coronavirus pandemic.

Insurers are expected to see huge savings from the drop-off, which is putting a financial squeeze on hospitals and doctors.

Humana said its members typically pay co-pays ranging from $0 to $35, while a small share pay 20% coinsurance. The waived cost-sharing means the visits will also not count against the members' deductibles. However, the shift only applies to in-network visits.

 

Write to Anna Wilde Mathews at anna.mathews@wsj.com

 

(END) Dow Jones Newswires

May 05, 2020 10:24 ET (14:24 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Humana (NYSE:HUM)
Historical Stock Chart
From Jul 2020 to Aug 2020 Click Here for more Humana Charts.
Humana (NYSE:HUM)
Historical Stock Chart
From Aug 2019 to Aug 2020 Click Here for more Humana Charts.