Humana will maintain zero telehealth copays for several visit types in the Medicare Advantage Part D plans through next year, President and CEO Bruce Broussard said during the company's third-quarter conference call, as transcribed by Seeking Alpha.
He said the company would provide telehealth services for physician visits, urgent care and outpatient behavioral health and COVID-19 testing and treatment for Medicare Advantage Part D members in 2021. Members with a COVID-19 diagnosis also will receive 14 days of home-delivered meals and a health essential kit that includes items to prevent the spread of COVID-19 and the flu.
He also said the company also aims to stay competitive in the Medicare Advantage Part D prescription drug plan industry after sustaining membership losses in 2019. Humana made changes to its portfolio this year by combining two plans into a new low premium plan and co-branding the product with Walmart. The plan was priced competitively and gained nearly 1 million members, Mr. Broussard said. He said he hopes to stay competitive in the prescription drug plan market with low premium plans.
"We've taken a disciplined approach to pricing, balancing membership growth and the overall impact to the enterprise," he said. "As a result, the Walmart value plan will not be the lowest cost leader in 2021, but is priced in a similar range to other low premium plans with competitive benefits. However, one plan sponsor is an outlier with an offering price well below the rest of the market."