Humana Extends Contract With Tivity Health, Spurs Healthcare
Humana Inc. HUM recently announced that it has extended the existing partnership with Tivity Health, Inc. TVTY through Dec 31, 2022. Per the terms of the alliance, Humana would offer Tivity Health’s SilverSneakers fitness program to its Individual Medicare Advantage and Group Medicare Advantage members.
What is SilverSneakers?
Tivity Health’s SilverSneakers, founded in 1992, is an overall wellness program offered to Medicare-eligible and group retiree members of participating health plans. It offers a variety of options for all fitness levels and abilities with access to exercise equipments, classes and fun social activities at thousands of locations across the nation.
Apart from Humana, another leading health insurer — UnitedHealth Group Inc. UNH — has also been providing Tivity Health’s SilverSneakers programs to its members.
What Aids Humana?
Humana is associated with SilverSneakers since 2004. The company has been successful in significantly motivating its Medicare Advantage members to actively improve their physical health. The extension of the alliance enables Humana to remain committed toward its Medicare Advantage members in order to help them achieve their best health.
Humana’s constant approach toward connecting health and lifestyle has led it to include SilverSneakers as a key element in many of its Medicare Advantage plans to take care of one’s complete health with both physical benefits and social enrichment.
The pact with SilverSneakers reflects the company’s focus on preventive healthcare, which benefits both the consumers and the company. Preventive healthcare saves the consumers from serious sickness by educating them about various health precautionary measures. The company, on the other hand, gains from lower medical cost due to healthier consumers, which reduces its claim cost.
Recent Alliances or Pacts
Humana has always been engaged in building strategic partnerships to improve the health of its Medicare Advantage members. In August 2017, the company joined forces with biotechnology company Amgen Inc AMGN to improve health outcomes and efficiency. Prior to that, in July 2017, the company partnered with Oscar Health to offer commercial health insurance to small businesses in a nine-county Nashville area.
Share Price Performance
Although, last year, shares of Humana have gained 29.3%, underperforming the industry’s rally of 43.2%, its strategic initiatives are likely to favor the stock going forward.
Humana carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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