State Health Plan saves $47M from enrollment in Humana Medicare Advantage Plans

RALEIGH — State Treasurer Dale Folwell signaled good news for the State Health Plan with the announcement an additional $47 million had been saved due to enrollment in Humana Medicare Advantage Plans (HMAP). The State Health Plan (SHP) is a division of Folwell’s office and covers around 740,000 teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents. “For every Medicare member that we enroll in one of our Medicare Advantage plans, the Plan saves approximately $4,700 per year,” Folwell said in a press release. Medicare-eligible retirees have three plans to choose from; Humana Group Medicare Advantage Base or Enhanced plans and the Base PPO Plan (70/30). The Humana Group Medicare Advantage plans are comparable to a 90/10 plan and have no deductible, no specialist referral requirement and all preventative services are covered at 100%.