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Broker “BUDdy” helps brokers provide guidance to smaller employers LOUISVILLE, KY - Sep 21, 2005 - Humana Inc. (NYSE: HUM) today unveiled the Benefit Utilization Director, also known as the Broker “BUDdy,” a new Web-based resource providing health insurance brokers with real-time utilization data and strategic tools to help small businesses get the most from their health plan.
The Benefit Utilization Director gives brokers, and the small businesses they advise, access to actionable, group-specific benefit information previously available only to large companies, allowing employers to model the impact of different benefit designs, track health plan usage, and ultimately better budget for employee health care – a large and growing bottom-line expense for many small firms. “Broker BUDdy empowers brokers to deliver an unparalleled level of guidance to small companies as they make critical decisions about their health coverage,” said Jerry Ganoni, president, Humana Small Business. “Many companies unknowingly provide richer benefits than their employees use or want. With knowledge gleaned from Broker BUDdy, small businesses are better able to choose the most appropriate health benefits solution for their workforce.” Designed with the help of Humana’s actively-appointed brokers and agents, Broker BUDdy features two primary tools to help employers choose and use their health plan with confidence: the Health Utilization Tool and the Contribution Strategy Tool, both of which protect the privacy of employee health information by removing identifying data. The Health Utilization Tool offers employers information about employee usage of key services, including doctor office visits, prescription drug purchases, impatient admissions, outpatient surgery and emergency room visits. Brokers can show small employers how the usage of these services by their own employees compares with that of similar accounts in the same geographic area and industry. Brokers can help employers track deductibles and out-of-pocket expenses to see how many employees have satisfied zero percent, 50 percent or more, and 100 percent of their in- and out-of-network limits. The Contribution Strategy Tool allows employers to test different contribution strategies and model their impact on premiums. With Broker BUDdy, brokers can help employers analyze renewal options, select more appropriate and cost-effective plans, and manage premium costs. “This is just a first step toward helping brokers and employers better understand their benefits and make cost-effective decisions,” said Ganoni. “Humana plans to enhance and improve Broker BUDdy over time, relying on continuing feedback from brokers who work with small companies.” The Broker BUDdy is available for businesses with between five and 50 employees. The tool is located and password-protected online in the secure agent portal of Humana.com. About Humana Humana Inc., headquartered in Louisville, Kentucky, is one of the nation’s largest publicly traded health benefits companies, with approximately 7 million medical members. Humana offers a diversified portfolio of health insurance products and related services – through traditional and consumer-choice plans – to employer groups, government-sponsored plans, and individuals. Over its 44-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio. More information regarding Humana is available to investors via the Investor Relations page of the company’s web site at www.humana.com, including copies of: |
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FOR MORE INFORMATION, CONTACT:
Mark Mathis  |
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