Humana restructuring into 2 units, will hire new insurance president

As a part of its $1 billion value creation initiative, Humana said during its July 27 second-quarter earnings call that the company will restructure into two separate units and reorganize the executives leading them.

Eight things to know:

  1. Starting in 2023, the company will split into two units: insurance services and CenterWell. Insurance services will consist of all the businesses currently within the retail and group and specialty segments. CenterWell will consist of the current healthcare service segment.

  2. The company is now searching for a president of insurance and enterprise services and expects to announce a name by the end of this year. The ideal candidate will lead enterprise strategies across the company's businesses drawing on previous experience with running a complex organization. The ideal individual will also help the company continue to simplify its structure. 

  3. Human's retail segment president, Alan Wheatley, will step down by the end of this year after 31 years with the company. He will serve as a strategic adviser during that time.

  4. George Renaudin, senior vice president of Medicare markets, has been named president of Medicare, effective Aug. 5. 

  5. Susan Smith, senior vice president of clinical solutions, will expand her role and lead enterprise services, including clinical and consumer experience, and stars and Medicare risk adjustment.

  6. John Barger will continue as president of Medicaid.

  7. Sue Schick will continue to lead the group and specialty segment business.

  8. Mr. Renaudin, Ms. Smith, Mr. Barger and Ms. Schick will all report to the new insurance president.

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