Humana is investing another $25 million in affordable housing nationwide in an effort to combat housing insecurity and improve health outcomes.
The funding will go toward rehabilitating or building affordable housing in Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Ohio, Oklahoma, South Carolina, Virginia and Wisconsin, according to an April 13 press release.
The move from the Louisville, Ky.-based payer follows an original investment of $25 million for affordable housing in September.
Humana's housing strategy focuses on three key areas: housing stability and homelessness prevention, stabilizing individuals with significant health risks with incremental clinical support, and strategic investments to increase community capacity. The investments are provided through the use of low-income housing tax credits. The three syndicators — CREA, PNC Real Estate and Raymond James — will work with developers to identify potential affordable housing properties for either rehabilitation or new construction.
"Humana's increased investment in affordable housing is an effective way to help communities reduce housing insecurity and improve health outcomes for vulnerable populations, which oftentimes include Medicaid and dual-eligible members," Humana Medicaid President John Barger said. "Today more than ever, our communities are in need of creative housing solutions."