Humana (NYSE:HUM) has introduced a new portfolio of individual health insurance plans under its HumanaOne brand. The new plans will be available in Alabama, Arkansas, Iowa, Indiana, Mississippi, Nebraska, Oklahoma, South Carolina and Utah.
HumanaOne plans are designed specifically for self-employed entrepreneurs, small business employees, part-time workers, students and early retirees. The new portfolio includes a broad spectrum of benefits, three in-network coinsurance levels, and 17 annual deductible choices.
"This new portfolio of products positions HumanaOne to serve a much larger portion of the individual health insurance market, which we believe will continue to grow at a rate of five to eight percent annually over the next five years," Steve DeRaleau, chief operating officer of HumanaOne, said in a statement. "As more people leave group health plans, retire early, become self-employed or work part-time, they will increasingly look to individual health plans, and HumanaOne will be there to serve them with a plan ideally suited to their distinct needs."