Humana

Humana Inc.

Guidance when you need it most
Type	Public
Traded as	: HUM S&P 500 Component
Industry	Managed health care
Founded	August 18, 1961; 55 years ago (1961-08-18) (as Extendicare Inc.) Louisville, Kentucky, U.S.
Headquarters	Humana Building Louisville, Kentucky, U.S.
Key people	David A. Jones, Sr. and Wendell Cherry, co-founders Bruce Broussard, CEO and President
Revenue	US$ 41.313 billion (2013) US$ 39.126 billion (2012)
Operating income	US$ 2.061 billion (2013) US$ 2.016 billion (2012)
Net income	US$ 1.231 billion (2013) US$ 1.222 billion (2012)
Total assets	US$ 20.735 billion (2013) US$ 19.979 billion (2012)
Total equity	US$ 9.316 billion (2013) US$ 8.847 billion (2012)
Number of employees	52,000 (1Q 2014)
Website	www.humana.com

Humana Inc. is a for-profit American health insurance company based in Louisville, Kentucky. As of 2014^[update] Humana has had over 13 million customers in the U.S., reported a 2013 revenue of US$41.3 billion, and has had over 52,000 employees. In 2013, the company ranked 73 on the Fortune 500 list, which made it the highest ranked (by revenues) company based in Kentucky. It has been the third largest health insurance in the nation.

The U.S. Dept. of Health and Human Services investigated Humana in 2009 for sending flyers to Medicare recipients that the AARP characterized as deceptive. The company's managed care model has also been criticized for ethical lapses and limitations.

The health insurer Aetna said on July 3, 2015, that it had agreed to acquire its smaller rival Humana for $37 billion in cash and stock but walked away from the deal after a court ruling that the merger would be anti-competitive.

Lawyers David A. Jones, Sr. and Wendell Cherry founded a nursing home company in 1961. The company known in 1968 as Extendicare Inc., became the largest nursing home company in the United States. In 1972, Jones and Cherry sold the nursing home chain, to purchase hospitals.

In 1974, the partners changed the corporate name to Humana Inc. It grew in the following years, both by business and in 1978 through the takeover of American Medicorp Inc., which doubled the company's size, and growing into the world's largest hospital company in the 1980s. During this period, Humana developed the double corridor model for hospital construction. This design minimized the distance between patients and nurses by placing nursing support services in the interior of the building with patient rooms surrounding the perimeter.

As the American health care system changed in the 1980s, "one of its hospitals in Arizona lost a contract with the largest health-maintenance organization in the area [and] Humana created its own health insurance plan.