Humana Inc. - HUM STOCK NEWS

Humana is launching its inaugural Community Day on Aug. 21, marking the company's founding anniversary with a dedicated day of service in Louisville. This event kicks off a nationwide 'Month of Impact' aimed at generating $10 million for communities where Humana employees live and work.

The initiative includes:

• Assembling one million meal kits to address food insecurity
• Cleaning up Waterfront Park and water quality testing
• Supporting a nutrition-focused event at Norton Sports and Learning Center

Humana Foundation is contributing a $600,000 grant to transform a neglected area of Waterfront Park. The company's commitment to community impact extends beyond this event, with employees and the Foundation regularly supporting various initiatives. Humana aims to foster healthier communities and address social drivers of health through these efforts.

Humana Inc. (NYSE: HUM) has launched a refreshed military-connected hiring strategy and earned recognition as a Top Veteran-Friendly Employer and Top Veteran-Friendly Supplier Diversity Program by U.S. Veterans Magazine. The company, which administers health benefits for nearly 6 million active-duty military and retirees, has hired about 6,000 veterans and military spouses since 2011. Humana's new strategy includes:

1. A pledge to hire 2,000 military-connected employees by 2032
2. Retention goals of 75% in the first year, increasing to 90% for years 2-5
3. Adoption of the 4+1 plan for military spouse support

This initiative reflects Humana's commitment to creating an inclusive work environment that values veterans' skills and experiences.

Humana Inc. (NYSE: HUM) has announced that its Board of Directors has declared a cash dividend of $0.885 per share to stockholders. The dividend will be payable on October 25, 2024 to stockholders of record as of the close of business on September 30, 2024. Humana, committed to prioritizing health for its teammates, customers, and company, offers both Humana insurance services and CenterWell health care services. The company aims to improve the quality of life for people with Medicare, Medicaid, families, individuals, military service personnel, and communities at large.

CarePlus Health Plans has launched the CarePlus Community Navigator, a new platform to aid Floridians in accessing essential local resources. The platform addresses social determinants of health like food security, housing, and transportation. Users can find resources such as food banks, transportation options, and affordable housing. Initial data indicate 47% of searches are related to food security, 26% to housing, and 8% to transportation.

CarePlus President Steven Ruiz emphasized that this initiative aims to enhance health equity across Florida. The platform is part of a broader effort by CarePlus and its partners to use local health data to better serve the community. For more information, visit CarePlus Community Navigator.

The Trust for the National Mall and Humana (NYSE: HUM) announce the second annual National Mall of Pickleball event, scheduled for September 27-29, 2024, in Washington D.C. This year's event, themed 'One for the Ages,' will feature 11 temporary courts and over 250 hours of pickleball activities. New additions include two extra courts, the 'Ultimate Duo Challenge' celebrating intergenerational relationships, and various tournaments. Advance court reservations open on September 18, 2024, at 12:00pm ET.

The event aims to promote intergenerational connections and active lifestyles. It will offer free community play, lessons, and spectator opportunities. Funds raised will support the Trust's mission to preserve and enhance the National Mall. The collaboration between the Trust and Humana emphasizes the importance of social connection and physical health in promoting healthy living, particularly for seniors.

The Humana Foundation, the philanthropic arm of Humana Inc. (NYSE: HUM), has announced 80 winners of college scholarships for the 2024-25 school year. The scholarships, awarded to children of Humana employees, provide up to $3,000 annually for postsecondary education, renewable for up to three years with a total possible award of $12,000. This year's recipients were selected from a record 651 applicants nationwide, based on academic achievement, leadership ability, and financial need.

The program expanded eligibility to include students attending accredited vocational and technical schools. In addition to the 80 new scholarship winners, 162 students renewed their scholarships from the previous year. Since 2001, the Humana Foundation has awarded over $15 million to assist more than 1,700 children of Humana employees in pursuing higher education.

Humana has reported its financial results for the second quarter of 2024. Key metrics include a GAAP EPS of $5.62 and an Adjusted EPS of $6.96. Year-to-date figures show a GAAP EPS of $11.74 and an Adjusted EPS of $14.19. Revenue for the quarter rose to $29.54 billion from $26.75 billion in 2Q23, while Adjusted Revenue increased to $29.38 billion from $25.73 billion.

However, the company revised its full-year GAAP EPS guidance to approximately $12.81 from $13.93, but maintained its Adjusted EPS guidance at $16.00. Additionally, Humana projected an increase in its individual Medicare Advantage membership growth by 75,000, anticipating a total growth of 225,000 members, or 4.2%, for 2024.

Operating cost ratio improved to 10.8% from 11.8% last year. The Insurance segment showed a benefits expense ratio of 89.5%, up from 86.8% in 2Q23. Operating cash flows decreased to $1.64 billion. The announcement included a Q&A session at 9 a.m. ET and updates on their Investor Relations page.

Humana Inc. (NYSE: HUM) has announced a new multi-year agreement with Google Cloud to modernize its cloud infrastructure and leverage AI capabilities for healthcare innovation. This collaboration builds on an existing partnership between Google Health and Humana, aiming to develop solutions for population health and improve member experiences. Key points include:

1. Enhancing operational efficiency and personalized care
2. Improving contact centers, provider networks, and primary care
3. Utilizing Google Cloud's AI and cloud technologies
4. Commitment to ethical AI use and HIPAA compliance
5. Focus on reducing healthcare costs and improving access to care

The partnership aims to transform healthcare delivery by combining Humana's healthcare expertise with Google Cloud's advanced technologies.

Humana Healthy Horizons, the Medicaid business of Humana Inc. (NYSE: HUM), is investing in community-based organizations throughout Oklahoma to expand healthcare access for underserved populations. Key initiatives include:

1. Partnering with Volunteers of America Oklahoma to create a Family-Focused Recovery center in Lawton for pregnant women and mothers with Substance Use Disorder.

2. Supporting CREOKS in developing an integrated behavioral and physical health center in Broken Arrow.

3. Sponsoring the Rural Health Innovation Challenge to address community health issues.

4. Backing Variety Care's new school-based clinic on the Crooked Oak campus.

These investments aim to improve healthcare access, particularly in rural areas, focusing on maternal and behavioral health services.