Humana’s Medicaid Membership to Grow with iCare Acquisition in Wisconsin
December 03 2020 - 4:15PM
Business Wire
Leading health and well-being company Humana Inc. (NYSE: HUM) –
a 50 percent owner of Wisconsin health care company iCare –
announced today that it will acquire the remaining 50 percent of
iCare from the company’s co-owner, Centers for Independence, Inc.
(CFI). The joint venture dates back to 1994 and serves members in
Wisconsin through Medicaid and Medicare offerings.
iCare currently serves 44,000 members through Wisconsin’s
Medicaid SSI program, BadgerCare program, and Medicare D-SNP plans
for people who are eligible for both Medicare and Medicaid.
“As Humana continues its work to expand its Medicaid business,
we are excited to fully participate in Wisconsin Medicaid and
leverage our innovation, strong capabilities and deep Wisconsin
employment base to better support Medicaid recipients across the
state,” said John Barger, Senior Vice President and President of
Humana’s Medicaid Business, Humana Healthy Horizons. “Given our
successful joint venture with CFI, Humana’s long-standing
commitment to Wisconsin – including coverage offerings across
Medicare, Medicaid and Commercial product lines – we look forward
to serving more beneficiaries and deepening our community presence
through this transaction.”
With its entry into the Wisconsin Medicaid program, Humana will
also be able to offer Medicare D-SNP plans in the state.
The acquisition will increase Humana’s overall Medicaid
membership to more than 730,000 Medicaid members across four states
– Florida, Illinois, Kentucky and Wisconsin.
“All of us at iCare are proud of the way we treat our members,
and for the outstanding service we provide,” said Tom Lutzow,
President and CEO of iCare. “It means a great deal to us that
Humana recognizes the commitment that our 370+ employees bring to
our members every day. We look forward to being a part of Humana’s
efforts to serve communities and help people achieve their best
health.”
The closing of the transaction is subject to customary state
regulatory filings as well as other customary closing conditions.
Financial terms of the transaction were not disclosed.
About Humana
Humana Inc. (NYSE: HUM) is committed to helping our millions of
medical and specialty members achieve their best health. Our
successful history in care delivery and health plan administration
is helping us create a new kind of integrated care with the power
to improve health and well-being and lower costs. Our efforts are
leading to a better quality of life for people with Medicare,
families, individuals, military service personnel, and communities
at large.
To accomplish that, we support physicians and other health care
professionals as they work to deliver the right care in the right
place for their patients, our members. Our range of clinical
capabilities, resources and tools – such as in-home care,
behavioral health, pharmacy services, data analytics and wellness
solutions – combine to produce a simplified experience that makes
health care easier to navigate and more effective.
More information regarding Humana is available to investors via
the Investor Relations page of the company’s web site at
www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases and conference calls
- Calendar of events
- Corporate Governance information
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version on businesswire.com: https://www.businesswire.com/news/home/20201203005936/en/
Jim Turner Humana Corporate Communications jturner2@humana.com
502.608.2897
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