Humana Expands Upon Its Bold Goal Initiative with $25 Million Affordable Housing Investment

Rhea-AI Summary

Humana Inc. (NYSE: HUM) announced a $25 million investment to enhance affordable housing in states including Florida, Georgia, and Texas. This initiative aims to address housing stability as a critical social determinant of health, particularly for Medicaid-eligible individuals. The funds will be distributed through three syndicated funds focusing on increasing affordable housing capacity. Humana's strategy includes partnerships to offer eviction prevention and support for vulnerable populations, reflecting its commitment to health equity.

Positive

• Investment of $25 million to improve affordable housing supply.
• Focus on critical social determinants of health, specifically housing stability.
• Partnerships aimed at eviction prevention and support for vulnerable communities.
• Deployment through three funds to enhance affordable housing capacity.

Negative

• None.

• Humana’s Bold Goal social health initiative seeks to provide people with more Healthy Days and better lives by focusing on critical social determinants of health, including housing stability.
• Humana’s national housing strategy aims to address members’ housing needs through a three-part approach, including interventions and investments that reduce health care costs and improve outcomes for vulnerable members and communities.
• $25 million investment will help expand the supply of affordable housing in the states of Florida, Georgia, Illinois, Kentucky, Louisiana, Ohio, Oklahoma and Texas.

LOUISVILLE, Ky.--(BUSINESS WIRE)-- As part of its population health strategy to improve the health of its members and communities, Humana Inc. (NYSE: HUM) today announced a $25 million investment to increase the supply of affordable housing in the states of Florida, Georgia, Illinois, Kentucky, Louisiana, Ohio, Oklahoma and Texas. Humana considers housing stability to be a key social determinant of health and one of the issues the company is addressing through its Bold Goal social health initiative.

“Housing insecurity can disproportionally affect Medicaid-eligible patients and lead to inadequate health outcomes,” said John Barger, Humana Medicaid President. “To achieve their best health, people need access to stable, safe and affordable places to live. Humana’s national housing strategy is one way we are helping our communities address their housing needs. Through a three-part approach, inclusive of interventions and investments, we aim to reduce health care costs and improve outcomes for some of our most vulnerable members and communities. This latest investment expands upon our housing strategy and will undoubtedly help many struggling to find affordable housing.”

Humana’s national housing strategy is focused on three key areas - Housing Stability and Homelessness Prevention, Stabilizing Individuals with Significant Health Risks with Incremental Clinical Support, and Strategic Investments to Increase Community Capacity. Recent examples of Humana’s housing programs include a partnership with legal services organizations in Louisiana to provide tenancy support and eviction diversion for Medicaid recipients, and a partnership with Volunteers of America in Kentucky to provide recovery beds for mothers overcoming substance use disorders. This newest investment will help address the short supply of low-cost rental units, creating affordable housing capacity in many of the communities that Humana serves.

Humana’s $25 million investment will be deployed through three syndicated funds that have been established to increase affordable housing capacity through the use of low income housing tax credits (LIHTC). The three syndicators, CREA LLC, PNC Real Estate and Raymond James work with developers to identify potential affordable housing properties for either rehabilitation or new construction in numerous cities across the country.

“To achieve true health equity, we need to address the underlying factors that may prevent people in underserved communities from reaching their best health,” said Dr. Nwando Olayiwola, Chief Health Equity Officer at Humana. “Humana is committed to addressing structural and root cause barriers to good health outside of the clinical setting, such as access to healthy food, transportation, social connections and stable housing, to help eliminate unjust differences in health.”

About Humana

Humana Inc. 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 with the goal of making 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 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.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210909005311/en/

Lisa Stoner

Humana Investor Relations

(502) 580-2652

e-mail: lstamper@humana.com

Mark Taylor

Humana Corporate Communications

(317) 753-0345

e-mail: mtaylor108@humana.com

Source: Humana Inc.

FAQ

What is Humana's recent investment in affordable housing?

Humana has announced a $25 million investment to increase the supply of affordable housing across several states.

Which states will benefit from Humana's $25 million housing investment?

The investment will benefit Florida, Georgia, Illinois, Kentucky, Louisiana, Ohio, Oklahoma, and Texas.

How does Humana's housing initiative relate to health outcomes?

Humana's initiative addresses housing stability, which significantly impacts health outcomes for Medicaid-eligible individuals.

What is the purpose of Humana's national housing strategy?

The strategy aims to reduce healthcare costs and improve health outcomes for vulnerable members and communities.

What are the key areas of focus in Humana's housing strategy?

Humana's strategy focuses on housing stability, clinical support for individuals with significant health risks, and strategic investments.