Humana Announces Exit from Medicare Advantage Plans Affecting 600,000 Members in 2027
Humana (NYSE: HUM) is exiting several Medicare Advantage plans affecting approximately 600,000 members by the end of 2027. The company has stated that these targeted exits are part of a strategy to focus on higher-performing coverage and improve profitability. Non-renewal notices will be mailed in early October, giving affected members time to explore alternatives before Medicare's annual enrollment period begins in mid-October. Federal law grants impacted individuals the right to purchase Medigap insurance without medical underwriting if they switch back to Original Medicare due to a plan exit. This is particularly significant for those who may have developed health conditions since joining an Advantage plan, as it allows them guaranteed coverage and pricing based on age rather than health status. While Humana plans to retain some members by moving them into other offerings, the change could disrupt access to current doctors, hospitals, or drug formularies. Members are advised to carefully evaluate replacement options before making a decision.
Tickers: $HUM
Topics: Humana exit strategy Medicare Advantage Medigap rights non-renewal notices