Health insurance company Humana Inc. (HUM) said on Thursday that it is exiting the Employer Group Commercial Medical Products business in a phased manner over the next 18 to 24 months.
"Following a strategic review, the company determined that the Employer Group Commercial Medical Products business was no longer positioned to sustainably meet the needs of commercial members over the long term or support the company's long-term strategic plans," the company said in a statement.
The business includes all fully insured, self-funded and federal staff health benefit medical plans, as well as associated wellness and rewards programs.
The company does not expect the decision to impact its earnings outlook for 2023 or any other health plan offerings.
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