Leading health and well-being company, Humana Inc. (HUM) ended the first week of October by securing a partnership agreement with CVS Caremark Corporation (CVS). As per the terms of the strategic retail partnership, Humana is allying with CVS Caremark’s retail division – CVS/pharmacy.
Through this partnership, both the companies are focused to create awareness among individuals and their families about various healthcare coverage options under the Affordable Care Act (ACA). Effective this month, Humana representatives will be present at CVS/pharmacy’s wellness program events of Project Health, to enhance healthcare access and offer preventive measures. The events are expected to start this month and continue through November. Humana representatives will be present in more than 500 CVS/pharmacy locations across U.S. states where Humana operates, except for Colorado and Utah. They will conduct in-store events to assist potential clients with their healthcare coverage queries over the next six months.
The partnership between Humana and CVS/pharmacy is aimed to spread awareness among individuals about the necessity and benefits of various healthcare coverages. As per the healthcare reforms in the U.S., effective Jan 1, 2014, it will be mandatory for U.S. citizens to have medical insurance coverage. In tandem with this provision of the ACA, Humana intends to conduct the in-store events at CVS/pharmacy locations which will also help it effectively promote and market its services. Thus this strategic partnership will allow Humana to reach out to more number of customers, and enhance its top line going forward.
Humana has been focusing on improving healthcare by creating awareness and resolving healthcare coverage queries of individuals. Towards this end it also partnered with the YMCA of the USA in August this year. Through this alliance Humana will sponsor health and wellness community events and healthcare reform through educational seminars at certain YMCA locations. Among its other endeavors in this regard, the online strategy of Humana to educate individuals about healthcare reform through the launch of the website “Health Care For You” in the same month, draws attention.
Humana currently carries a Zacks Rank #2 (Buy). Among other healthcare services companies that are worth considering, Aetna Inc. (AET) carries a favorable Zacks Rank #1 (Strong Buy) while HealthNet Inc. (HNT) shares the same Zacks Rank as Humana.
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