Humana

What Humana does

Humana Inc. is a Louisville, Kentucky-headquartered, publicly traded health insurance and integrated care delivery company founded in 1964 that generated $137.2B in trailing-twelve-months revenue as of mid-2026. Its core insurance business is built around Medicare, where Humana is the second-largest Medicare Advantage carrier in the U.S. with 7.1 million individual MA members (a 25% year-over-year increase), approximately 11 million total Medicare members, and 20% MA market share per KFF 2026 data. The product portfolio spans Medicare Advantage (Part C), Medicare Supplement/Medigap Plans A–N, stand-alone Medicare Part D prescription drug plans, Medicaid managed care (including the newly awarded $30B Illinois HealthChoice contract covering 3.1M members across 102 counties launching January 2027), and individual/group dental, vision, life, and disability insurance. Humana also serves dual-eligible populations through Special Needs Plans (D-SNPs and C-SNPs) and partners with TRICARE-related programs serving over 770,000 military service members and families in Florida alone.

The company operates a vertically integrated technology and care delivery stack anchored by its CenterWell subsidiary, which encompasses CenterWell Senior Primary Care (physician-led clinics that grew by 110,500 patients in Q1 2026 following the MaxHealth acquisition), CenterWell Home Health (the largest U.S. home health provider, posting $1B in quarterly revenue with 4% same-store admissions growth), and CenterWell Pharmacy (mail-order pharmacy with distribution centers in Arizona, Ohio, and a newly opened $83M Orlando facility capable of processing 64,000 prescriptions per day). Member-facing technology includes the MyHumana portal, electronic prior authorization (ePA) systems aligned with the January 1, 2027 CMS compliance deadline, and agentic AI for call center operations tied to a $100M+ multiyear savings initiative. Humana's revenue model is overwhelmingly subscription-based, driven by recurring monthly Medicare Advantage, Part D, Medigap, and Medicaid capitated premiums, complemented by fee-for-service and value-based care revenue from CenterWell service lines. Distribution combines direct-to-consumer online enrollment, licensed inside-sales agents, broker and enterprise channels for employer group business, direct government contracting, and the payer-agnostic CenterWell Pharmacy D2C and direct-to-employer channel enabled by the SwiftyRx partnership with Mark Cuban Cost Plus Drug Company.

Name

Humana

Website

https://humana.com

Company type

Private

Founded year

1964

Headcount range

5,001–10,000 employees

Short description

Public health insurer and integrated care delivery company providing Medicare Advantage, Medicare Supplement, Part D, and Medicaid managed care plans to over 11 million Medicare members, supported by its vertically integrated CenterWell subsidiary for primary care, home health, and pharmacy.

Ownership category

akta.pro rank

Product category

Health Insurance (Medicare Advantage, Medicaid, and supplemental plans)

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Health Care and Social Assistance (62), Services for the Elderly and Persons with Disabilities (624120), Home Health Equipment Rental (532283)

SIC

Hospital & Medical Service Plans (6324), Services-Home Health Care Services (8082), Services-Health Services (8000), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Medicare Advantage (MA) Plans (FSAIAGAA)

akta.pro secondary industries

Medicare-Certified Skilled Home Health Agencies (HHA) (HLADAFAA), Integrated Physical-Behavioral-Social Care (Whole-Person) Medicaid Plans (HLAEAEAI), MA Chronic Condition Management & Supplemental Benefits (SSBCI) (HLAEACAI), MA HMO Plans (HLAEACAA), Medicaid Expansion (ACA Adult) Managed Care Plans (HLAEAEAB), Value-Based Primary Care Organizations (Risk-Bearing) (HLAFAGAF), MA Provider-Sponsored/Payvider MA Plans (HLAEACAJ), Medicare Quality, Risk Adjustment & Stars Analytics/Services (FSAIAGAJ)

Keywords

• Medicare Advantage plans
• Health insurance coverage
• Medicare prescription drug plans
• Medicaid managed care
• Senior primary care

Headquarters

HQ city

Louisville

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Medicare Advantage Premiums: Recurring monthly premiums from Medicare Advantage plans covering 7.1 million individual MA members and 11 million total Medicare members, including individual, group, and special needs plans. Subject to CMS Star Ratings bonus payments and risk-adjustment revenue.
2. Medicaid Managed Care Premiums: Capitated per-member-per-month premiums from state Medicaid managed care contracts. Recently awarded a $30 billion Illinois HealthChoice Illinois contract covering 3.1 million members statewide. Humana serves 540,000+ Medicaid members in Florida alone.
3. Medicare Part D (PDP/MA-PD) Premiums: Stand-alone Prescription Drug Plan (PDP) and Medicare Advantage Prescription Drug (MA-PD) plan premiums, with average MA-PD premium around $8 per month and PDP premium of $36 per month in 2026. Humana is a top-5 Part D insurer covering a significant share of 56.3 million total Part D enrollees.
4. Pharmacy Services (CenterWell Pharmacy): Mail-order and home delivery pharmacy revenue from CenterWell Pharmacy operations including $22+ billion in revenue from pharmacy services last year, operating mail-order distribution centers in Arizona, Ohio, and Orlando, FL. Includes payer-agnostic direct-to-consumer and direct-to-employer services.
5. Healthcare Services (CenterWell Senior Primary Care, Home Health): Fee-for-service and value-based care revenue from CenterWell Senior Primary Care clinics (with 110,500 patient growth in Q1 2026 after MaxHealth acquisition) and CenterWell Home Health (23% revenue growth to $1 billion in Q1 2026, with 4% same-store admissions growth). Includes skilled nursing facility value-based care covering 2 million lives across 15 states.
6. Group/Employer Health, Dental, Vision, Life & Disability Insurance: Group insurance premiums from employer-sponsored plans including dental, vision, life insurance, and disability income insurance products, as well as small business group plans in Texas and other states.
7. Medicare Supplement (Medigap) Insurance Premiums: Monthly premiums from standardized Medigap Plans A through N sold to Medicare beneficiaries to cover out-of-pocket costs not paid by Original Medicare, with 6% online enrollment discount available in most states.
8. TRICARE and Government Health Contracts: Government contract revenue for serving military service members, veterans, and their families. Humana serves over 770,000 military service members and their families in Florida alone. Note: TRICARE West region contract is held by TriWest Healthcare Alliance, but Humana is referenced in connection with TRICARE-related business.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

Humana is a health insurance company that primarily sells Medicare Advantage plans, Medicare Supplement (Medigap) plans, Medicare Part D prescription drug plans, Medicaid managed care plans, and individual/group dental, vision, life, and disability insurance. The company also operates vertically integrated care delivery through its CenterWell subsidiary, which includes CenterWell Senior Primary Care clinics, CenterWell Home Health, and CenterWell Pharmacy mail-order pharmacy services.

Product overview

Humana operates as a platform-plus-modules architecture centered on its core Medicare Advantage insurance products, with the CenterWell healthcare services arm serving as a vertically integrated delivery and pharmacy platform. The core insurance products include Medicare Advantage (Part C), Medicare Supplement/Medigap plans, Medicare Part D prescription drug plans, Medicaid managed care plans, and individual/group dental, vision, life, and disability insurance. The CenterWell subsidiary houses multiple service lines: CenterWell Senior Primary Care (physician practices), CenterWell Pharmacy (mail-order pharmacy with three distribution centers including the new Orlando facility), and CenterWell Home Health (formerly Kindred at Home, the largest U.S. home health and hospice provider). Supporting products include the MyHumana member portal, the CenterWell Fulfillment Index research product, and Special Needs Plans (SNPs) tailored for chronic conditions, dual-eligible beneficiaries, and institutional residents. Acquisitions and divestitures (MaxHealth primary care, Gentiva hospice divestiture, the Cost Plus Drugs pharmacy partnership, and the Illinois HealthChoice Medicaid contract) extend the platform's reach across care delivery, pharmacy, and government programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Medicare Advantage Plans (Part C) Humana's Medicare Advantage plans bundle Medicare Part A and Part B benefits and often Part D prescription drug coverage, plus extra benefits like dental, vision, hearing, fitness, and transportation. Humana is among the largest Medicare Advantage carriers in the U.S., serving 7.1 million individual MA members and nearly 11 million total Medicare members as of Q1 2026.

Quantifiable outcome

• Q1 2026 revenue grew 23% to $39.6 billion with 25% MA enrollment growth to 7.1 million members
• +7 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability11 records

Feature5 records

Partnerships

Eleven partnerships are on record, tiered moderate, significant, flagship, major and minor.

• National Hispanic Medical Association (NHMA)moderateGTM or Marketing Partner · 16 June 2026Humana and CenterWell announced the inaugural Resident Physician Scholarship Program in partnership with NHMA, providing $10,000 each to seven bilingual internal medicine and family medicine residents in Florida, plus mentorship from NHMA and CenterWell physician leaders and experiential learning at CenterWell senior primary care centers. The program addresses the shortage of bilingual physicians, particularly relevant given that only 9% of U.S. physicians identify as Hispanic/Latino.
• Veterans of Foreign Wars (VFW), USAA, and Volunteers of AmericamoderateGTM or Marketing Partner · 14 May 2026Humana Inc. and the Veterans of Foreign Wars (VFW), in partnership with CenterWell, USAA and Volunteers of America, host a national Day of Service on May 19 to support veterans experiencing homelessness, with volunteers in Nashville, San Antonio, and Tampa preparing 4,000 essential care kits. The 2026 event marks a new collaboration with Volunteers of America and builds on the VFW's Day of Service program which supported over 2,300 service events in 2025.
• MaxHealth (acquisition)significantStrategic or Co-development Partner · 29 April 2026Humana recently completed the acquisition of MaxHealth, a Florida-based primary care organization, contributing to 110,500 patient growth in CenterWell Senior Primary Care during Q1 2026.
• Mark Cuban Cost Plus Drug CompanyflagshipStrategic or Co-development Partner · 27 April 2026Humana's CenterWell Pharmacy and Mark Cuban Cost Plus Drug Company announced a deepened partnership on April 27, 2026, to develop end-to-end employer prescription solutions. Cost Plus Drugs selected CenterWell as its pharmacy partner, with CenterWell adopting Cost Plus Drugs' SwiftyRx digital pharmacy platform for medication order intake, automated benefit checks, and patient onboarding. The partnership aims to reduce prescription costs and improve medication adherence. The two companies generated over $22 billion in pharmacy revenue for Humana last year.
• AHIP and Blue Cross Blue Shield Association (with Cigna, Elevance, Aetna, UnitedHealthcare)flagshipGTM or Marketing Partner · 24 April 2026Humana joined a coordinated pledge with UnitedHealthcare, Blue Cross Blue Shield, Cigna, Kaiser Permanente, and AHIP/Blue Cross Blue Shield Association, along with Trump administration health officials, to reduce and streamline prior authorizations by January 1, 2027. Leading health plans have reduced prior authorizations by 11% in approximately nine months, equating to 6.5 million fewer requests for patients. The initiative targets a standardized electronic framework for payers and providers.
• Inclusa (acquisition)significantStrategic or Co-development Partner · 5 June 2023Humana completed its acquisition of Inclusa, a managed care organization serving Medicaid long-term care programs in Wisconsin.
• Kindred at Home (acquisition)flagshipStrategic or Co-development Partner · 18 August 2021Humana completed its acquisition of Kindred at Home, making it the largest home health and hospice provider in the U.S. The acquisition allowed Humana to expand its care services and improve patient outcomes, with integration including rebranding Kindred at Home's operations to CenterWell Home Health. The hospice and personal care divisions were later spun off as Gentiva, with Humana retaining a 40% minority stake that is now being divested.
• One Homecare Solutions (onehome, acquired from WayPoint Capital Partners)majorStrategic or Co-development Partner · 14 June 2021Humana announced its plan to acquire onehome from WayPoint Capital Partners to expand its value-based home healthcare offerings at a national scale, integrating OneHome's risk-based care model with existing services including the recently acquired Kindred at Home. The deal was part of Humana's broader home health strategy.
• Thyme Care and Tuesday HealthmoderateImplementation/ SI/ Consulting PartnerHumana has partnerships with Thyme Care (palliative care) and Tuesday Health (palliative care in Texas), focused on integrating palliative care early in treatment for seriously ill plan members through interdisciplinary teams and virtual services. Thyme Care has expanded its Next Chapter Care cancer survivorship program serving over 15,000 members.
• EyeMed (Vision Care Network)moderateChannel Partner/ Reseller/ DistributorHumana Vision plans leverage EyeMed vision care network for in-network vision provider access, with EyeMed exception claims forms (Network Access Exception forms) allowing members to receive in-network benefit coverage when visiting out-of-network providers.
• Parsley Health (in-network provider)minorChannel Partner/ Reseller/ DistributorParsley Health functional medicine provider is in-network with Humana (along with Aetna, Cigna, UnitedHealthcare, Blue Cross Blue Shield, Centene), representing a tenfold increase in coverage over two years. Parsley Health offers telehealth nationwide and in-person care in Los Angeles and New York City.

Scale indicators14 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• CVS Health (Aetna): Vertically integrated payor-retail pharmacy-PBM (Caremark) combination owning Aetna insurance. Directly competes with Humana in MA, Part D, and Medicaid, while Caremark overlaps with CenterWell Pharmacy in mail-order prescription fulfillment.
• UnitedHealth Group: Largest US health insurer and Humana's primary MA competitor. Operates UnitedHealthcare insurance plans alongside Optum health services, capturing ~26% MA share vs Humana's 20% in 2026. Directly comparable across MA, Part D, Medicaid, employer, and integrated care delivery.
• Elevance Health: Operates Blue Cross Blue Shield plans across multiple states and Carelon services. Directly competes with Humana in MA, Part D, Medicaid managed care, and commercial group, with growing care delivery assets paralleling CenterWell.
• Cigna Group: Major health insurer with Evernorth PBM and Express Scripts. Competes with Humana in Medicare Advantage, Medicare Supplement, Part D, and the PBM space where Cigna through Express Scripts is a significant market participant.
• Centene Corporation: Largest US Medicaid managed care insurer and top-5 Part D carrier. Directly competes with Humana in Medicaid managed care (where Humana's Illinois contract expansion faces Centene's dominance) and Part D markets.
• Molina Healthcare: Pure-play government managed care insurer focused on Medicaid and Marketplace plans. Directly competes with Humana for state Medicaid contracts (including Illinois where Humana just won a major award) and dual-eligible populations.

Emerging players

• Kaiser Permanente: Integrated payor-provider system offering MA and integrated care in select regions. Comparable to Humana's CenterWell vertical integration thesis and joined Humana in the prior authorization reform pledge, though operating model differs as staff-model HMO.
• Alignment Healthcare: Tech-enabled Medicare Advantage insurer focused on seniors in California and select expansion states. Comparable to Humana's MA-focused strategy and MA growth trajectory, though at smaller scale; uses technology to drive member experience and care coordination.
• Clover Health: Technology-focused Medicare Advantage insurer using Clover Assistant SaaS platform. Comparable to Humana's agentic AI deployment and AI-driven MA margin goals; both pursue tech-enabled MA economics in similar senior markets.

Broad incumbents

• Health Care Service Corporation (HCSC): Mutual Blue Cross Blue Shield plan operating across multiple states. Comparable as top-5 Part D carrier (covering 74% of Part D enrollees alongside Humana), plus competitor in commercial group and Medicaid markets across shared geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/humana
• Facebookfacebook.com/humana
• LinkedInlinkedin.com/company/humana

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds9 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A23 records

Investments48 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Humana