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HumanaOne® Introduces Short Term Medical Health Insurance

New Product Provides Temporary Protection for People in Transition

Category:

Tuesday, April 7, 2009 10:22 am EDT

Dateline:

LOUISVILLE, Ky.

Public Company Information:

NYSE:
HUM
US4448591028

LOUISVILLE, Ky.--(BUSINESS WIRE)--In these difficult economic times, it is not unusual for people to find themselves temporarily without insurance, through no fault of their own. HumanaOne® is introducing a product to help these people fill the gap until they get reestablished – Short Term Medical health insurance.

Short Term Medical health insurance offers a timely, affordable alternative for people in transition, including situations such as the following:

  • Students who are about to graduate
  • People who are between jobs
  • Part-time, temporary or seasonal employees
  • Recent retirees waiting for Medicare
  • New employees waiting for benefits
  • People who are unemployed.

“It can be very tempting to forgo insurance when you’re between jobs or waiting for your benefits to kick in, particularly when you’re young and healthy,” said Steven DeRaleau, chief operating officer of HumanaOne. “But that’s a gamble you could lose, leaving you saddled with medical debt for the next decade or longer.”

HumanaOne is initially offering Short Term Medical health insurance in the following markets: Alabama, Arizona, Colorado, Louisiana, Michigan, Nebraska, Ohio and Wisconsin. Plan design varies somewhat by state.

In all cases, the application process is quick and easy. In fact, if eligible, coverage can begin the very next day after the applicant is approved.

Like all HumanaOne products, Short Term Medical health insurance includes great flexibility. Applicants can choose the length of their policy (from 30 days up to six months or one year, depending on the state), the deductible ($500 to $5,000 for individuals or $1,000 to $10,000 for families) and the payment method (credit card, electronic funds transfer or monthly check). A discount of up to 20 percent is offered to those who pay the full amount up front.

These plans have a $2 million maximum benefit and include prescription drug coverage. They do not cover preexisting conditions.

“We have other products that may be a better fit if you are looking for long-term coverage,” DeRaleau explained. “These plans are meant primarily as a bridge to protect people against sudden illness or accident until they can get to another plan.”

In some states, membership in the nonprofit Peoples’ Benefit Alliance is required to apply for HumanaOne Short Term Medical health insurance. The membership cost is 13 cents a day or $3.90 every 30 days.

Humana markets HumanaOne plans through insurance agents and brokers, as well as directly to consumers. For more details, visit www.humana-one.com or contact your nearest HumanaOne agent.

About HumanaOne

HumanaOne, a division of Humana Inc., offers affordable health insurance coverage to more than 300,000 people in 26 states, including self-employed entrepreneurs, students, recent college graduates, and early retirees, and those who may be uninsured.

About Humana

Humana Inc. (NYSE: HUM), headquartered in Louisville, Ky., is one of the nation’s largest publicly traded health and supplemental benefits companies, with approximately 10.6 million medical members. Humana is a full-service benefits solutions company, offering a wide array of health and supplementary benefit plans for employer groups, government programs and individuals.

Over its 48-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio.

More information regarding Humana is available to investors via the Investor Relations page of the company’s Web site at http://www.humana.com, including copies of:

  • Annual reports to stockholders
  • Securities and Exchange Commission filings
  • Most recent investor conference presentations
  • Quarterly earnings news releases
  • Replays of most recent earnings release conference calls
  • Calendar of events (includes upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors)
  • Corporate Governance Information

Contact:

Humana Corporate Communications
Doug Bennett Jr., 502-580-3625
dbennett@humana.com