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Exclusive strategic alliance expands Humana’s ability to offer Medicare beneficiaries new drug benefit for 2006 LOUISVILLE, KY - Sep 30, 2005 - Humana Inc. (NYSE: HUM) and State Farm®, the nation’s largest property and casualty insurer, announced today that they have entered into a strategic alliance whereby State Farm agents will be able to offer Humana’s Medicare Part D prescription drug plan (PDP) to their 7.5 million Medicare-eligible customers. State Farm’s more than 17,000 agents are located throughout the United States allowing people with Medicare easy access to an agent who can assist them in understanding and enrolling in this new benefit option.
Terms of the transaction were not disclosed. Enrollment in the new Part D drug benefit – created as part of the 2003 Medicare Modernization Act – will begin in November, with plans becoming effective Jan. 1, 2006. Humana has received approval from The Centers for Medicare & Medicaid Services (CMS) to offer the Medicare Part D prescription drug plan (PDP) to the millions of Medicare-eligible beneficiaries residing in 46 states and the District of Columbia, representing all of the states for which Humana applied. “State Farm’s philosophy of being a good neighbor to their members is consistent with Humana’s consumer-focused, guidance approach to health benefits,” said Stefen Brueckner, Humana’s Vice President of Senior Products. “This is a win-win relationship for both companies, and will offer us a tremendous distribution channel to the millions of people who qualify for Medicare and who will be eligible to enroll in the Medicare Part D drug benefit in November.” "State Farm is proud to team up with Humana,” said Susan D. Waring, Executive Vice President and CAO of State Farm Life and Vice President of State Farm Health. “Their consumer focus and long-standing commitment to customer service are exemplary. This new alliance fills a major need for our customers.” Humana and State Farm will be working closely together to educate State Farm customers about the new Medicare prescription drug plan. State Farm customers and other Medicare beneficiaries may contact a State Farm agent to enroll in the PDP. State Farm agents will begin selling Humana’s PDP plans on Nov. 15. 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:
Mia Jazo-Harris
Mary Sellers  |
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