Humana President and CEO Bruce Broussard said in the company’s annual shareholders’ meeting that the company will focus on Medicare Part D and Medicare Advantage patients. The emphasis on the Medicare population comes as more baby boomers become Medicare beneficiaries.
Despite a failed merger with Aetna, Humana had a strong fiscal year. A federal court spiked the $37 billion merger deal in January because the move would “substantially lessen” competition in the Medicare Advantage and ACA exchanges markets.
Humana is pulling out of the individual insurance market next year. Humana had 152,000 members in plans in the ACA exchanges in January and had previously pulled out of the individual market in a few states.