Millions of Americans on Humana’s Medicare Advantage plans could see their health care benefits cut after the company makes major profit-boosting adjustments to its plans.
Humana said it would be ending some plans and cutting benefits for patients in 2025 as it hopes to boost its financial performance. Altogether, 6 million Americans are insured through Humana’s Medicare Advantage.
“The insurer recently warned that rising health care costs are squeezing their business model, forcing them to slash benefits and potentially exit some markets altogether in 2025,” Michael Ryan, a finance expert and the founder of michaelryanmoney.com, told Newsweek. “And with over 6 million enrollees, Humana’s moves will ripple across the entire Medicare Advantage market.”
A few weeks ago, Humana warned that its 2025 profit targets were down due to the upcoming payments by the federal government to Medicare Advantage plans.
Source: Millions of Americans May Get Their Medicare Advantage Benefits Cut / Newsweek