A volatile landscape for health insurers
Humana’s exposure mirrors wider industry vulnerability. In July, Omnicare, a CVS Health subsidiary, was ordered to pay nearly $949 million in damages for allegedly billing Medicare, Medicaid, and Tricare for invalid prescriptions. The unit has since filed for bankruptcy protection. “Given that ruling and a number of other issues facing our business, we now are taking necessary steps to move forward and ensure the continued delivery of safe and reliable pharmacy service to our customers,” said Omnicare President David Azzolina.