Florida Medicaid Businesses Are Latest Humana Sell-Offs.Humana Humana Inc. (NYSE: HUM), founded in 1961 in Louisville, Kentucky, is a Fortune 500 company that markets and administers health benefit consumer services. With a customer base of over 11. Inc. said it would sell a majority of its Florida Medicaid Medicaid, national health insurance program in the United States for low-income persons; established in 1965 with passage of the Social Security Amendments and now run by the Centers for Medicare and Medicaid Services. business to Well Care HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, Inc. Terms of the sale were not disclosed. The sale involves the care of 94,000 members. Humana said it would still serve 44,500 Medicaid members in Broward, Dade and Palm Beach counties. In October, Humana transferred most of its individual health business in Florida to Well Care HMO. The move involved 34,48l members. The transactions follow Humana's strategic plan to sell off business that does not relate to its core health insurance business, the company said in a statement. So far this year, Humana has said it would sell two workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. businesses, an individual Medicaid supplemental business and a Las Vegas-area health maintenance organization. Also, Humana Inc. said it posted a $495 million charge for the fourth quarter of 1999, mostly to write off goodwill from past acquisitions. |
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