Humana ups investment in affordable housing – Insurance Business

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By Ryan Smith
As part of a commitment to improving housing stability for vulnerable communities, Humana has announced an additional $40 million investment to increase the supply of affordable housing.
The funding raises Humana’s total financial commitment to affordable housing to $90 million and increases the scope of its program to include additional properties, including in the states of Arizona, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Washington and Wisconsin, the insurer said in a news release.
“At Humana, we recognize that housing quality and related support services have a direct impact on health, which is why we are committed to increasing the supply of affordable housing and support services for vulnerable populations in the communities we serve,” said John Barger, president of Humana’s medicaid business, Humana Healthy Horizons. “Through creative partnerships in affordable housing, we can help people gain access to safe and quality places to live and provide the stability they need to focus on achieving their best health. We are pleased to increase our investment in affordable housing to help revitalize properties in numerous communities across the country.”
Humana’s national housing strategy is focused on three key areas:
Humana is undertaking initiatives to support all three areas, including its $90 million commitment to affordable housing. The investment will help address the insufficient supply of low-cost rental units and create affordable housing capacity in many communities served by the insurer.
Read next: Humana to exit group commercial medical products business
“We truly value the partnership we’ve had with Humana over the years to help meet the growing demand for quality affordable housing across the country,” said Steve Kropf, president and CEO of Raymond James Affordable Housing Investments. “We believe a stable, safe and affordable home environment is essential to a high quality of life and leads to healthier communities. It’s through key partnerships like the one we have with Humana that we are able to significantly impact the health of residents across the country – together.”
Humana is one of the largest insurers in the nation by market capitalization. It is the country’s fifth-largest provider of health insurance.
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