Humana: Walgreens joint venture increasing Medicare enrollment

Morgan Haefner – February 7, 2019

Humana's Medicare Advantage membership is growing, and the health insurer said its joint venture with Walgreens Boots Alliance is driving some of the enrollment, according to Forbes contributor Bruce Japsen.

Four things to know:

1. Humana saw membership in its individual Medicare Advantage plans grow to 3.1 million in fiscal year 2018, compared to 2.8 million in 2017, according to the health insurer's fourth quarter results.

2. "Our 233 owned, joint ventured and alliance clinics, the majority of which are payer agnostic, including our two 'Partners in Primary Care' clinics inside Walgreens stores experienced positive results in the annual election period," Humana CEO Bruce Broussard told analysts during the company's fourth quarter earnings call Feb. 6, according to Forbes. He said Humana's Medicare Advantage membership grew over 9 percent at the clinics.

3. The early results of Humana's Walgreens Boots Alliance joint venture come as Humana's full-year financial forecast fell short of analysts' predictions, according to Reuters. The health insurer's Medicare prescription drug plans remained under pressure, as membership dropped to 5 million in the year ended Dec. 31, compared to 5.3 million a year prior.

4. Humana's net income climbed to $355 million in the fourth quarter ended Dec. 31. That's up from $184 million a year before. Revenue also increased year over year to $14.2 billion in 2018, according to Reuters.

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