By Will Feuer

Humana Inc. said it will exit its Employer Group Commercial Medical Products business, including all fully insured, self-funded and federal employee health benefit medical plans.

The company said the move comes after a strategic review that determined the business was no longer positioned to sustainably meet the needs of customers or to support Humana's long-term strategic plans.

The exit will be phased over the next 18 to 24 months.

The move will allow Humana to focus on government-funded programs and specialty businesses, Chief Executive Bruce Broussard said. The company also will focus on expanding its CenterWell healthcare services, he said.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

February 23, 2023 06:56 ET (11:56 GMT)

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