LOUISVILLE, Ky.--(BUSINESS WIRE)--For the second year in a row, U.S. News & World Report recognized leading health and well-being company Humana Inc. (NYSE: HUM) as the 2024 Best Insurance Company for Medicare Advantage in three categories.
U.S. News ranked Humana No. 1 nationally for its 2024 Medicare Advantage plan offerings in the following categories:
- 2024 Best Overall Medicare Advantage Plan Company
- 2024 Best Company for Member Experience
- 2024 Best Company for Low Premium Plan
“We designed our 2024 Medicare Advantage plans with feedback we have received from our customers in mind,” said George Renaudin, President, Medicare and Medicaid at Humana. “They told us affordability, stability and value are at the top of the list when they are comparing plans. We focused on delivering the benefits that are most important to our members.”
U.S. News analyzed data from the Centers for Medicare and Medicaid Services (CMS) to populate its comparison tool and identify the best companies nationwide and in each state.
CMS rates individual plans on a scale of one to five stars. The U.S. News methodology analyzes insurers in a given state with plans rated three stars or higher by CMS. The Star Ratings Program is an annual assessment using about 40 measures to rate all Medicare Advantage and Prescription Drug plans on a scale of one to five and drive health care quality improvement.
Humana has led the industry in the percentage of members in Medicare Advantage plans CMS has rated four stars or higher for each of the last six years. Nearly 5.5 million, or 94% of Humana’s Medicare Advantage members are enrolled in plans rated 4 stars and above for 2024. Humana also is leading the industry this year with plans rated 4.5 stars and above in addition to more than doubling the number of members in 5-star plans from 2023 to 2024.
“We recognize the challenges U.S. seniors face when selecting the right Medicare Advantage plan options for themselves,” said Sumita Singh, senior vice president and general manager of Health at U.S. News. “The Best Insurance Companies for Medicare Advantage ratings provided by U.S. News & World Report, featuring more than 300 insurance companies, hopes to empower consumers to make high quality, data-driven health care decisions when faced with a complex health insurance environment.”
Humana has served Medicare beneficiaries for decades, with nearly 8.7 million Medicare members in all 50 states, Washington, D.C., and Puerto Rico, as of Sept. 30, 2023. More than 5.8 million of those members are enrolled in a Medicare Advantage plan.
The Medicare Advantage and Prescription Drug Plan Annual Election Period began Oct. 15 and runs through Dec. 7. Humana offers in-person, online, telephone enrollment options. All enrollment options will connect Medicare beneficiaries with a licensed sales agent. Visit Humana.com/Medicare or call toll-free 1- 800-706-1368 (TTY: 711). Licensed sales agents are available 5 a.m. to 8 p.m. local time, seven days a week.
Humana Inc. is committed to putting health first – for our teammates, our customers, and our company. Through our Humana insurance services, and our CenterWell health care services, we strive to make it easier for the millions of people we serve to achieve their best health – delivering the care and service they need, when they need it. These efforts are leading to a better quality of life for people with Medicare, Medicaid, families, individuals, military service personnel, and communities at large. Learn more about what we offer at Humana.com and at CenterWell.com.
Humana is a Medicare Advantage HMO, PPO and PFFS organization and a stand-alone PDP prescription drug plan with a Medicare contract. Enrollment in any Humana plan depends on contract renewal. Every year, Medicare evaluates plans based on a 5-star rating system.
About U.S. News & World Report
U.S. News & World Report is the global leader in quality rankings that empower consumers, business leaders and policy officials to make better, more informed decisions about important issues affecting their lives and communities. A multifaceted digital media company with Education, Health, Money, Travel, Cars, News, Real Estate and 360 Reviews platforms, U.S. News provides rankings, independent reporting, data journalism, consumer advice and U.S. News Live events. More than 40 million people visit USNews.com each month for research and guidance. Founded in 1933, U.S. News is headquartered in Washington, D.C.