Humana Aligns Recent Acquisitions with Existing Dental, Life and Vision Products under 'Humana Specialty Benefits' Name
4Q 2007 Acquisitions CompBenefits and KMG America Bring Expanded
Dental, Vision and Voluntary Product Offerings to Humana Portfolio
LOUISVILLE, Ky.--(Business Wire)--
Humana Inc. (NYSE: HUM) today announced that it is aligning the
offerings of the company's dental subsidiary, HumanaDental Insurance
Company, with the products offered by two recent acquisitions -
CompBenefits and KMG America - enabling employers to provide a wider
range of Humana benefit options for their employees.
"Humana Specialty Benefits" encompasses the products Humana now
offers to employer groups and individuals, other than medical
coverage.
"With Humana Specialty Benefits, Humana now provides a 'total
benefit solution' for our employer-customers," said Bill Tait, vice
president, sales and market operations for Humana. "We've categorized
our specialty products under 'Humana Specialty Benefits' to make it
easy for our broker partners and employer customers to realize the
array of integrated non-medical products available to them from
Humana."
The addition of CompBenefits (acquired October 2007) expanded
Humana's dental portfolio, which now includes dental HMO and dental
EPO products. It also gave Humana a full-service vision product.
The addition of KMG America (acquired November 2007) brought
voluntary health, life and disability benefits to Humana.
Humana Specialty Benefits includes all of the products listed
below, with employer-sponsored and/or voluntary (employee) funding:
-- Dental
-- Vision
-- Life
-- Disability
-- Accident
-- Critical Illness
-- Supplemental Health
-- Integrated Medical-Behavioral Health
-- Behavioral Health
-- EAP/Work-Life
-- Wellness Programs
This broadened portfolio of offerings from Humana has enhanced the
company's ability to anticipate the needs of consumers, as well as
responding to employers' desire for a comprehensive spectrum of
benefits and related services that help foster their employees'
engagement, retention and development. The specialty products market
is growing, with industry reports projecting mid- to
upper-single-digit growth for this sector over the next few years.
Humana is now better positioned to offer the products and services its
customers need.
"For large and small employers, ancillary and voluntary benefits
provide a simple, affordable way to build a more competitive and
attractive benefits package," said Jerry Ganoni, president, Humana
Small Business, HumanaDental and HumanaOne. "Employers can easily
integrate voluntary plans with traditional medical, dental and vision
plans as effective tools in managing overall benefit costs."
With the acquisitions of KMG America and CompBenefits, Humana
Specialty Benefits has approximately 6.8 million specialty-benefit
members, up from 1.9 million members prior to the acquisitions.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the
nation's largest publicly traded health and supplemental benefits
companies, with approximately 11.5 million medical members. Humana is
a full-service benefits solutions company, offering a wide array of
health and supplementary benefit plans for employer groups, government
programs and individuals.
Over its 47-year history, Humana has consistently seized
opportunities to meet changing customer needs. Today, the company is a
leader in consumer engagement, providing guidance that leads to lower
costs and a better health plan experience throughout its diversified
customer portfolio.
More information regarding Humana is available to investors via
the Investor Relations page of the company's web site at
http://www.humana.com, including copies of:
-- Annual reports to stockholders;
-- Securities and Exchange Commission filings;
-- Most recent investor conference presentations;
-- Quarterly earnings news releases;
-- Replays of most recent earnings release conference calls;
-- Calendar of events (includes upcoming earnings conference call
dates and times, as well as planned interaction with research
analysts and institutional investors);
-- Corporate Governance Information.
Humana Corporate Communications
Jim Turner, 502-476-2119
jturner2@humana.com
Copyright Business Wire 2008
