Humana USAA Honor with Rx plan built with veterans and their families in mind to deliver both medical and prescription drug coverage

Humana Inc. (NYSE:HUM) and USAA Life Insurance Company (USAA Life) announced a new Medicare Advantage plan designed with veterans in mind to provide a robust coverage option that complements healthcare benefits received through Veterans Affairs (VA).

This new co-branded Humana USAA Honor with Rx plan, available to anyone eligible for Medicare, is being offered in eight states starting in 2023 and provides the ﬂexibility for veterans to see in-network local doctors and fill prescriptions at pharmacies close to home, outside the VA system. It's the only Medicare Advantage plan developed in partnership with USAA.

The new plan is available throughout Pennsylvania and in select markets in the following states:

Texas
Michigan
Ohio
Indiana
Arizona
California
Hawaii

The plan combines the healthcare experience of Humana with the veteran experience of USAA to meet the unique needs of veterans and their families.

Humana introduced its Honor Medicare Advantage plans in 2020; this is the first time an Honor plan includes prescription drug coverage. Humana's Honor plans are available to anyone eligible for Medicare, but they are designed in a way that may work alongside the benefits a veteran receives through VA healthcare.

"While available to anyone eligible for Medicare, the Humana Honor plans are made to serve those who served," said Jim Van Valin, segment vice president for Humana MarketPoint, the company's Medicare sales organization. "Humana and USAA together are committed to the military community, and we are proud to deliver this opportunity for convenience, savings and personalized support. Those who gave so much to our nation deserve a health plan that gives back to them."

The new Humana USAA Honor with Rx plan offers:

$0 monthly premium
Part B premium giveback ranging from $40 to $75 (depending on the plan) back into the individual's Social Security check every month
Wide network of pharmacies and doctors
No copays for Tier 1 and $5 or less copays for Tier 2 prescriptions at any in-network retail pharmacy for a one-month supply, with no deductibles
USAA Health Flex Card with $250 or more a year to use toward covered dental, vision and hearing services in select markets
Preventive dental coverage with two free cleanings a year, plus get $1,000 or more a year to cover many dental bills, including cleanings, exams and more

Veterans and Medicare households have access to Humana Customer Care specialists who collaborated with USAA to receive special training to better serve the unique healthcare needs of veterans – many specialists are veterans themselves and can make it easier for them to manage their health.

"Choosing the right health coverage is an important element of financial security," said Mary Forey, assistant vice president and senior experience owner for health insurance at USAA. "With this plan veterans continue to have access to their VA care—which they rightfully deserve and earned—but for $0 premium they can have access to additional services, more convenient prescription drug refills, backup coverage or even a second opinion. We chose Humana because of their dedication to the military community and our long-time partnership."

Humana Honor Medicare Advantage plans are available in more than 2,000 counties across the country and are recommended by USAA. All Honor plans include Part B premium giveback as well as dental, vision and hearing coverage, and most plans also have an allowance to help buy approved OTC products ranging from $100-1,200 a year.

The Annual Election Period for Medicare-eligible individuals runs from Oct. 15 through Dec. 7. Individuals can visit www.Humana.com/Medicare/Veterans or call toll-free 1-833-585-8387 (VETS) (TTY: 711) 8 a.m.-8 p.m., seven days a week, to speak to an agent who is trained to support the unique needs of veterans.

About Humana

Humana Inc. is committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well-being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large.

To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools – such as in-home care, behavioral health, pharmacy services, data analytics and wellness solutions – combine to produce a simplified experience with the goal of making health care easier to navigate and more effective.

More information regarding Humana is available to investors via the Investor Relations page of the company's website at humana.com, including copies of:

Annual reports to stockholders
Securities and Exchange Commission filings
Most recent investor conference presentations
Quarterly earnings news releases and conference calls
Calendar of events
Corporate Governance information

About USAA

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking, and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.

Additional Information

Humana is a Medicare Advantage HMO and PPO organization with a Medicare contract. Enrollment in any Humana plan depends on contract renewal.

The Humana USAA Honor with Rx plan is available to anyone eligible for Medicare and veterans should consider all of their health plan options.

All Medicare beneficiaries are eligible to enroll in a Humana Honor Plan, where available, and Medicare-eligible Veterans can enroll in any Medicare plan.

Humana Insurance Company pays royalty fees to USAA for the use of its intellectual property. USAA means United Services Automobile Association and its affiliates. Use of the term "USAA member" or "USAA membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change. USAA and the USAA Logo are registered trademarks of the United Services Automobile Association. All rights reserved. No Department of Defense or government agency endorsement.

Y0040_GCHLTDYEN_M

View source version on businesswire.com: https://www.businesswire.com/news/home/20221012005113/en/

Humana, USAA Launch New Medicare Advantage Plan Tailored to Veterans' Needs