Example Of Humana's Smart Explanation Of Benefits
Humana Inc. (NYSE: HUM) recently received accolades from DALBAR, a third-party evaluator in the financial-services industry, for being one of few innovative health insurers to “buck the tradition of incomprehensible customer communications.”
DALBAR analyzed the usefulness of insurers’ Explanation of Benefits (EOBs) statements, which insurers send to customers explaining how their medical claims are processed. Out of 34 leading insurers, including the federal government’s Medicare program, 68 percent of the documents received a failing score.
Humana was one of only three insurers to receive the designation of “excellent” for the clarity, content and design of its “Smart EOB.” Humana also received special “best-in-class” recognition for its personalized member messaging, and high marks for including charts and graphics to help people understand how their benefits work, draw conclusions, and take appropriate action.
“Humana’s EOB is a leader in personalized messaging and visual creativity,” said Kathleen Whalen, managing director at DALBAR. “The company has gone above and beyond the required content to offer health tips, coupons and other imaginatively designed educational tools based on patient diagnosis, gender and age. The features are clearly designed to positively influence their members’ lives and help them manage their health.”“We value each interaction with our members and take pride in ongoing efforts to improve each touchpoint – working to improve health literacy and member understanding,” said Bruce J. Goodman, Humana’s chief service and information officer. “Our EOBs and statements are an important part of transparency to customers, so they can understand the total cost of health care. Humana’s traditional EOB has evolved, based on the needs of our members, into a health-management tool, the Smart EOB. These are also offered electronically to our members at Humana.com,” Goodman said. About DALBAR, Inc. DALBAR, Inc. has been a leading third-party evaluator in the financial-services industry since 1976. With offices in the U.S., Canada and London, DALBAR develops standards for – and provides research, ratings and rankings of – the many factors that influence a company’s overall customer-service experience. Such factors include print communications, public Web sites and proprietary portals, interactive voice response units, call centers, and financial-adviser services.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV