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Humanana reports higher pharmacy costs; trustees ratify member appointment to Kentucky Group Health Insurance Board
Summary
Humanana told trustees medical and pharmacy claims rose (pharmacy up ~16.4% in one plan); Humanana continues meeting performance guarantees and staff will monitor IRA-driven pharmacy changes. Trustees ratified the appointment of Larry Totten to the Kentucky Group Health Insurance Board.
The joint retiree health plan committee heard a Humanana presentation showing increased utilization and higher claim costs year-over-year: one plan recorded medical claims growth near 5.89% and pharmacy costs up about 16.37% compared with the prior year. Humanana reported it was meeting contract performance guarantees while warning that Inflation Reduction Act (IRA) pharmacy provisions are changing out-of-pocket maximums and will affect plan premium dynamics going forward.
The committee also moved to appoint Larry Totten (KRS) to a vacancy on the Kentucky Group Health Insurance Board; the board ratified the appointment by voice vote.
Connie Patty John presented detailed plan statistics and said Humanana will provide breakdowns by drug cost versus utilization when requested; trustees asked staff to circulate the plan-specific detail to trustees who request it.
