Humana Accelerates Commitment to Helping Seniors Choose Right Health Plan, Announces Minority Investment in Healthpilot

Rhea-AI Summary

Humana Inc. (NYSE: HUM) has announced a minority investment in Healthpilot, a company developing a personalized digital enrollment experience for seniors exploring Medicare options. This strategic move aligns with Humana's commitment to creating a more efficient and consumer-centric healthcare ecosystem.

Healthpilot's AI-powered platform provides recommendations for Medicare Advantage, Medicare Supplement, and prescription drug plans based on beneficiaries' unique healthcare profiles. The platform will remain payor-agnostic, ensuring unbiased recommendations.

This investment aims to enhance Humana's digital growth and improve the education, shopping, and enrollment experiences for Medicare customers. Healthpilot plans to use the investment to improve its product experience, grow its online brand, accelerate data analytics, and enhance AI capabilities.

Positive

• Strategic investment in AI-powered Medicare plan recommendation platform
• Enhances Humana's digital growth and payor-agnostic broker capabilities
• Potential for improved customer experience in Medicare plan selection
• Aligns with Humana's goal of creating a more efficient healthcare ecosystem

Negative

• None.

• Investment in Healthpilot supports Humana’s efforts to develop a more efficient, transparent, and consumer-centric healthcare ecosystem by leveraging cutting-edge technology.
• Healthpilot’s AI-driven Medicare plan platform will remain payor-agnostic, providing highly personalized recommendations for Medicare beneficiaries to enroll in the right health plan.

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Leading health and well-being company Humana Inc. (NYSE: HUM), through its payor-agnostic insurance brokerage business, today announced a minority investment in Healthpilot, a company pioneering the development of a personalized and simpler digital enrollment experience for seniors exploring their Medicare options. The financial investment by Humana supports both companies’ visions to create a more efficient, transparent, and consumer-centric healthcare ecosystem. Following Humana’s minority investment, Healthpilot will remain payor-agnostic, providing consumer-specific recommendations for beneficiaries to enroll in the right health plan for their specific healthcare profile. Financial terms were not disclosed.

Healthpilot’s proprietary AI-powered model was developed based on the academic research of Healthpilot co-founder Dr. Jonathan Kolstad, PhD and features an online enrollment platform that provides Medicare Advantage, Medicare Supplement and prescription drug plan (PDP) recommendations based on beneficiaries’ unique healthcare situations. Using a digitally native platform, it leverages enrollee information such as their personal health profile, choices for physicians, prescription drug utilization and cost preferences, and then matches prospective enrollees with the optimal choices available for their Medicare plan needs. Most applications are submitted without a consumer requiring assistance from a Healthpilot customer support representative.

“This investment in Healthpilot represents a strategic step forward in Humana’s digital growth journey and underscores our commitment to leveraging cutting-edge technology to further enhance payor-agnostic, omnichannel broker capabilities,” said David Dintenfass, President of Enterprise Growth at Humana. “Healthpilot’s platform provides a more personalized and simpler digital enrollment experience for seniors, and we are excited to improve the education, shopping and enrollment experiences for customers that purchase Medicare products from Healthpilot. By leveraging Healthpilot’s advanced analytics and AI, beneficiaries can be paired with plans that best meet their needs, thereby enhancing their overall healthcare experience.”

“Healthpilot is seeking to redefine the Medicare plan shopping experience with a customer-centric approach that leverages leading, AI-powered technology and an elegant user-interface,” said Seth Teich, CEO of Healthpilot. “We are pleased to have the opportunity to collaborate more closely with Humana. Their financial investment will fuel our ambitious goals of improving our customer product experience, growing our brand online, accelerating data analytics, and enhancing our AI capabilities. These advancements will allow us to better serve the millions of seniors in need of a simplified digital shopping experience.”

About Humana

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 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.

More information regarding Humana is available to investors via the Investor Relations page of the company’s website at 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.

About Healthpilot

At Healthpilot, we’re redefining the Medicare plan shopping experience. We’ve built groundbreaking AI technology that allows customers to find and enroll in a plan fully online, or with the help of licensed, non-commissioned support representatives at any point along the way. Our best-in-class platform engages users by asking them simple questions about their drugs, doctors, coverage preferences, and pharmacy information – and in seconds, our AI finds the ideal plan for them considering all predicted costs in the future year. To learn more about how we’re improving seniors’ experience with Medicare enrollments, please visit www.healthpilot.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717236852/en/

Investors: Lisa Stoner (Humana); (502) 580-2652; lstamper@humana.com

Media: Mark Taylor (Humana); (317) 753-0345; MTaylor108@humana.com

Source: Humana Inc.

FAQ

What is the purpose of Humana's investment in Healthpilot?

Humana's investment in Healthpilot aims to enhance its digital growth, improve Medicare plan selection experiences for seniors, and support the development of a more efficient and consumer-centric healthcare ecosystem.

Will Healthpilot remain payor-agnostic after Humana's investment?

Yes, Healthpilot will remain payor-agnostic, providing unbiased recommendations for beneficiaries to enroll in the right health plan for their specific healthcare profile, despite Humana's minority investment.

How does Healthpilot's AI-powered platform work for Medicare plan recommendations?

Healthpilot's AI-powered platform uses beneficiaries' personal health profiles, physician choices, prescription drug utilization, and cost preferences to match them with optimal Medicare Advantage, Medicare Supplement, and prescription drug plan options.

What impact might this investment have on Humana's stock (HUM)?

While specific impacts are not mentioned, the investment in Healthpilot represents a strategic step in Humana's digital growth journey, which could potentially positively influence HUM stock by enhancing the company's technological capabilities and market position in Medicare plan recommendations.