Humana’s Economic Impact in Florida Totals $48 Billion

Hitesh
thehealthco.info
Health and wellness leader Humana Inc. will contribute a total of $48 billion to Florida’s overall economic impact in 2022. Additionally, Florida has more Humana employees and healthcare plan members than any other state. Commissioned by Humana from the Center for Economic Forecasting and Analysis at Florida State University, the study is based primarily on Humana’s financial data. It also showed that Humana’s presence in Florida in 2022 will be directly and indirectly responsible for over 288,000 jobs, $18 billion in income or wages, and $472 million in state and local taxes on rice fields.

“Humana has a long history of serving Florida and its people, and this analysis clearly demonstrates the significant and ongoing impact that Humana is having on our state’s economy,”

“We at Humana are proud to be part of the fabric of this great state and of the important role we play not only economically, but also in improving the health of Floridians and our local communities.”

Ron Weeden, Senior Vice President and Humana Medicaid Division Leader, based in Tampa.

Humana employs approximately 11,000 Florida residents and, as of December 31, 2022, more than 2.6 million people in the Sunshine State through Medicaid, Medicare Advantage, Medicare Prescription Drugs, Medicare Supplements, Commercial Employer Groups, and TRICARE Health Plans health plan members. Humana’s Medicaid brand, Humana Healthy Horizons, is one of two comprehensive plans that serve Medicaid beneficiaries in all 11 regions of the state. The Company also provides geriatric-focused primary care in more than 140 Florida clinics under the CenterWell Senior Primary Care and Conviva Care Center brands provide home health care services through its subsidiary CenterWell Home Health and operate CenterWell Pharmacy and Conviva Care Center. Provides pharmacy services through CenterWell specialty pharmacy.

“It’s hard to overstate Florida’s importance to Humana’s ongoing success,”

“From Jacksonville and the Panhandle in the north to Miami and Broward County in the south, and Tampa, Orlando and everywhere in between, we’re dedicated to helping those we serve to achieve their best health, and we enjoy long-lasting, productive and mutually beneficial relationships with health care providers, community organizations and suppliers across the state.”

Caraline Coats, Regional President, Medicare for Humana in Florida.

“We’ve had the privilege of caring for Humana’s Florida health plan members for more than five years,”

“Humana is not only one of the largest health plans in our state, but Humana has always been extremely responsive, highly collaborative and clearly committed to improving health outcomes for their members, our patients.”

Mia Jones, CEO at Agape Family Health.

In addition to its economic impact, the report also found that Humana contributes to the health and well-being of local communities by supporting local nonprofits. For example, in 2020, Humana made her nearly $2 million donation to community organizations such as Area Agency on Aging, and Boys and Girls Clubs. Humana Florida employees also volunteered nearly 30,000 hours.

“Feeding South Florida is grateful for our long-standing partnership with Humana,”

“With their generous support and committed team volunteering their time, we have been able to address food access barriers for vulnerable populations in South Florida. Our collaboration has led to the development and expansion of innovative programs underlying our shared belief that food is medicine.”

Paco Vélez President and CEO of Feeding South Florida.

“The partnership between Humana and Boys & Girls Clubs of the Emerald Coast has provided resources and volunteers that directly support more than 3,000 youth in Northwest Florida,”

“This equates to youth who are equipped with lifelong strategies that promote wellness and healthy lifestyles.”

Leslie Mickles, Vice President of Financial Advancement for Boys & Girls Clubs of the Emerald Coast.

To arrive at the total economic impact, the study calculated the direct, indirect and induced effects of Humana’s economic activity in Florida:
  • Direct impacts total $23.4 billion and relate to short-term business activity and ongoing economic activity associated with Humana-related businesses or firms.
  • Indirect impacts of $13.8 billion result when local firms directly impacted by Humana purchase materials, supplies or services from other firms.
  • Induced impacts of $10.5 billion are created by the consumption and spending of employees or firms affected by Humana, including goods and services normally associated with household consumption such as housing, retail purchases and local services.
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