Humana - HUM STOCK NEWS

Humana (NYSE: HUM) has appointed Michelle O'Hara as Chief Human Resources Officer, effective January 1, 2025. O'Hara will manage enterprise talent strategy and people programs for Humana's 63,000+ employees, reporting to CEO Jim Rechtin. She succeeds Tim Huval, who will retire end of 2024 after 12 years with the company. O'Hara brings 20+ years of HR leadership experience, most recently as EVP and CHRO at SAIC, where she led significant improvements in workplace culture, talent acquisition, retention, and diversity during periods of rapid growth.

Humana (NYSE: HUM) has earned recognition from both Military Times and Military Friendly® for its veteran employment initiatives. The company ranked #14 in Military Times' Healthcare category for its 2024 Best for Vets: Employers list. Additionally, Humana received the 'Gold' designation in Military Friendly's large company category for 2025, along with recognition in specialty categories including Military Spouse-Friendly Employer and Military Friendly Brand.

Since launching its Veteran Hiring Initiative in 2011, Humana has hired approximately 6,000 veterans and military spouses. The company has renewed this initiative with a commitment to hire 2,000 more military-connected employees by 2032, targeting retention rates of 75% in the first year and 90% for years 2-5 of employment.

Humana (NYSE: HUM) and Evolent Health (NYSE: EVH) have expanded their strategic medical oncology partnership to streamline prior authorization processes for radiation and surgical oncology services. The collaboration aims to expedite approval requests and improve patient access to care through Evolent's advanced technology platform. Under the expanded partnership, Evolent will serve as Humana's designated utilization management and pathway vendor for radiation and surgical oncology services.

The platform enables providers to access up-to-date therapy choices, submit prior authorization requests in minutes, and receive approvals in seconds, reducing administrative burdens while ensuring CMS compliance.

Humana reported Q3 2024 earnings with GAAP EPS of $3.98 and Adjusted EPS of $4.16. The company updated its full-year 2024 guidance to 'at least $12.89' on a GAAP basis and 'at least $16.00' on an Adjusted basis. The Insurance segment benefit ratio is affirmed at approximately 90%. Medicare Advantage membership growth projection for 2024 has been raised by 40,000 to approximately 265,000 members, representing about 5% growth. Q3 consolidated revenues reached $29.4 billion, with benefits expense ratio at 89.9% and operating cost ratio at 11.5%.

Humana (NYSE: HUM) has announced that its Board of Directors has declared a quarterly cash dividend of $0.885 per share. The dividend will be payable on January 31, 2025 to stockholders of record as of December 31, 2024. Humana provides insurance services and CenterWell health care services, focusing on delivering care to people with Medicare, Medicaid, families, individuals, military service personnel, and communities.

Humana and Longevity Health have announced an expanded agreement to offer Humana Together in Health, a Medicare Advantage Institutional Special Needs Plan (I-SNP), to eligible residents of long-term care facilities in eight additional states starting in 2025. The plan, currently available in five states, will expand to Indiana, Iowa, Kentucky, Louisiana, New Mexico, Tennessee, Washington, and West Virginia. The plans include dental, vision, hearing benefits, transportation services, care manager support, and new music therapy sessions for eligible members with chronic conditions. Longevity Health's value-based care model aims to improve clinical outcomes and provide patient-centered healthcare.

Humana (NYSE: HUM) has elected Gordon Smith to its Board of Directors, expanding the board to 12 members. Smith, currently an Operating Advisor at Clayton, Dubilier & Rice Funds, brings extensive experience from his previous roles as Co-President and Co-Chief Operating Officer of JPMorgan Chase, where he served until January 2022. His background includes leading JPMorgan's Consumer and Community Banking division from 2012 to 2021 and over 25 years at American Express. The appointment aims to enhance Humana's strategic oversight in Medicare Advantage and CenterWell healthcare services, operational efficiencies, and consumer experience development.

CenterWell Home Health, a major home health provider operating in 38 states, has collected donations equivalent to 89,456 meals in its 20th annual food drive. The initiative, spanning over 350 branches nationwide, has accumulated more than 1.4 million meals over two decades. The top three performing branches will receive $5,000 cash grants from the Humana Foundation, with Parkersburg, W.Va., branch leading this year's collection, followed by Atlanta's regional operations office and the Louisville branch. Donations benefit various 501(c)(3) organizations that distribute food to local communities.

Define Ventures, a major venture capital firm focusing on early-stage health tech companies, has appointed Bruce Broussard as venture partner. Broussard, former CEO and president of Humana, brings extensive experience in scaling companies and fostering innovation across various healthcare sectors. His role will involve guiding founders, shaping investment strategies, and strengthening partnerships with large healthcare organizations.

Broussard's decision to join Define Ventures is rooted in his belief in the firm's unique position to transform healthcare. His appointment follows that of Frank Williams, co-founder and former CEO of Evolent, who joined as venture partner earlier this year. Define Ventures, with $800 million in assets under management, partners with companies at seed, series A, and series B stages, including notable firms like Hims & Hers and Unite Us.