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LOUISVILLE, Ky. - Humana Inc. (NYSE: HUM), a prominent healthcare provider with a market capitalization of $29.6 billion and annual revenue exceeding $120 billion, announced that its Medicaid plan, Humana Healthy Horizons, is now available as a coverage option for Virginia Cardinal Care beneficiaries. The company, which InvestingPro analysis shows maintains excellent financial health with a "GREAT" overall score, was selected as one of five plan administrators in a statewide Medicaid managed care procurement conducted last year.
All individuals currently enrolled in Virginia Cardinal Care are eligible to select Humana’s plan for their healthcare coverage. The expansion builds upon Humana’s existing presence in Virginia, where it already serves Medicare Advantage and TRICARE members. According to InvestingPro data, Humana’s strong market position is supported by consistent dividend payments for 15 consecutive years and a healthy balance sheet with more cash than debt.
"We have the privilege of serving Medicare Advantage and TRICARE members throughout Virginia, and we are honored to expand our human-centered care to Virginians covered by Cardinal Care," said Humana Healthy Horizons President John Barger in the press release.
As part of its commitment to Virginia, Humana announced it will invest an additional $2 million to the Virginia Health Care Foundation over the next five years. This follows an initial $500,000 investment aimed at expanding the Commonwealth’s behavioral health workforce.
Linda Hines, President of Humana Healthy Horizons in Virginia, stated the company will deliver comprehensive healthcare services addressing physical and mental health needs, as well as health-related social needs.
Nationally, Humana manages Medicaid benefits for nearly 1.5 million members under its Humana Healthy Horizons brand, according to the company statement.
The announcement comes as Humana continues to expand its healthcare services portfolio, which includes both insurance services and healthcare delivery through its CenterWell services.
In other recent news, Humana has announced significant developments regarding its earnings and strategic targets. Raymond James has raised its price target for Humana to $340, reflecting optimism about the company’s earnings per share (EPS) outlook through 2028. The firm highlighted potential EPS growth if Humana improves its Star ratings, which could significantly boost earnings. Meanwhile, TD Cowen maintained its Hold rating with a $268 price target, emphasizing Humana’s focus on long-term strategy and projected earnings growth by 2028. Bernstein also reiterated an Outperform rating, citing optimism about the company’s Medicare Advantage outlook and potential Star rating improvements.
Additionally, Humana has expanded its climate commitments, setting new targets to reduce emissions from its investment portfolio, aligning with the Science Based Targets initiative. The company aims to have a significant portion of its financial portfolio set SBTi-validated targets by 2029. In another development, Humana, along with other major insurers, has pledged to simplify prior authorization processes to reduce administrative burdens in healthcare. These efforts are part of broader initiatives to streamline healthcare administration and improve patient care.
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