Humana Inc. headquartered in Louisville, Kentucky, operates as a health and well being company that provides insurance products and health care services through its two main platforms, Humana insurance services and CenterWell health care services. The company aims to make it easier for the people it serves to achieve their best health by delivering care and service when needed. It serves Medicare and Medicaid participants, families, individuals, military service personnel, and broader communities.

Humana generates revenue primarily from insurance premiums and service fees. Its Insurance segment collects premiums from Medicare Advantage plans, Medicare Part D stand alone prescription drug plans, Medicare supplement policies, state based Medicaid contracts, and specialty benefits such as dental and vision, while also earning fees from military services and other administrative arrangements. The CenterWell segment derives revenue from pharmacy solutions, primary care clinics, and home health services, both through intercompany transactions with the Insurance segment and external sales to third party payers and patients. In 2025, approximately 83% of the company’s total premiums and services revenue came from contracts with the federal government, including 14% from individual Medicare Advantage contracts in Florida with the Centers for Medicare and Medicaid Services.

The company operates through the following segments: Insurance and CenterWell.

• Insurance: This segment offers a range of health insurance products including Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Point of Service (POS), and Private Fee For Service (PFFS) plans for Medicare beneficiaries, as well as Medicare stand alone prescription drug plans, Medicare supplement policies, state based Medicaid contracts, dental and vision specialty benefits, and administrative services for military personnel under TRICARE contracts.

• CenterWell: This segment provides pharmacy services through mail order and specialty pharmacies, operates primary care clinics focused on seniors under brands such as Conviva Senior Primary Care and CenterWell Senior Primary Care, and delivers home health and hospice services, aiming to support the integrated care delivery model by offering pharmacy solutions, primary care, and home based care to members and third parties.

Humana holds a strong position in the U. S. health benefits industry as one of the largest providers of Medicare Advantage plans, competing with other managed care organizations, national insurers, and regional HMOs and PPOs. Its competitive advantages stem from an integrated care delivery model that combines insurance offerings with direct health care services, a large and geographically diverse membership base, advanced data analytics capabilities, and long standing relationships with health care providers and government agencies such as the Centers for Medicare and Medicaid Services and the Department of Defense.

Humana serves a diverse customer base that includes individuals eligible for Medicare and Medicaid, employer groups offering health benefits to employees, military personnel and their families under TRICARE, and individuals purchasing specialty products such as dental and vision coverage. Specific partners and contracting entities referenced in the filing include the Centers for Medicare and Medicaid Services, Walmart Inc. for a co branded Medicare Part D plan, and the United States Department of Defense for TRICARE administration.