With a new CEO it makes things tricky. A new direction for the company as a whole. More layoffs, changes to our benefits, new acquisitions, etc. What are your thoughts?
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What was the SSBCI debacle that a poster mentioned, but didn’t explain?
Change is constant. It is very suspicious that the new CEO is coming from a bankrupt company. The only thing we can do is brace for more layoffs and pray for the best.
“ Anyone remember the Greg Wolfe Days? The new guy appears to be woefully in over his head like Wolfe was. CEO of a small company since Feb 2020 that filed for Bankruptcy in May of 2023. If this guy brings in his entourage like Wolfe did, run. The company will be ran into the ground in a few short years.”
That’s exactly what I’m saying! It seems like such an odd choice to select Jim. Why not select one of Bruces’ right hand people, who knows the ins and outs of Humana and CenterWell. Why not promote within? Surely, there is some Executive who has been with Humana for 30+ years, who would be eager to be the CEO and probably would be more qualified.
Anyone remember the Greg Wolfe Days? The new guy appears to be woefully in over his head like Wolfe was. CEO of a small company since Feb 2020 that filed for Bankruptcy in May of 2023. If this guy brings in his entourage like Wolfe did, run. The company will be ran into the ground in a few short years.
Something doesn’t seem right, there has to be far more qualified people to be CEO of a Fortune 75 company.
And, please don’t assume he’s a rat jumping ship, maybe he or a family member is sick and he is stepping back to help
Humana is not having financial problems. We had a record selling year last AEP. The concern is a change in funding from CMS years 24-26. There were providers overutilizing codes leading to overpayment. They can't bill some of those same codes in 2024. Reduction in funding means less of a margin for admin cost, surplus, etc. Many MA plans and provider organizations are experiencing layoffs. Additionally more AI is being used which will replace some people unfortunately.
So, is Broussard leaving as a big enough rat of a hint on a sinking boat, good enough to make y'all think twice about staying? It has been glaringly obvious the company was nose diving from here, but apparently, that is okay.
When one of the biggest rats jumps ship...well.....
See that iceberg ahead?
SSBCI is a federal program, under CMS….it’s very competitive with insurance companies to educate their members on the benefit, and it could probably be used more by members who don’t even know they have it on their plan, or what they can use it for
Other health care companies offer SSBCI . I use benefit for members all the time. No issues paying bills for members. Love this benefit and the efficient team that manages my requests. HUMCS CM here Triage and Support
SSBCI is plan specific, and administrative processes are through a third party, so not sure how there could be a debacle?
What is going on with SSBCI? Are too many members taking advantage of it?
SSBCI debacle? What happened?
Looks like the same day the court approved Envision bankruptcy he announced he was leaving for Humana
https://radiologybusiness.com/topics/healthcare-management/healthcare-economics/private-equity-radiology-envision-healthcare-bankruptcy-humana
The problems that occurred this year are a direct reflection of Bruce’s billion dollar initiative they did last year. After all of the cuts and how people feared for their jobs, no one NO ONE within his sphere of influence told him about the incoming SSBCI debacle? This was his to own.
He also has a background in in home dialysis, an arena that Humana wants to get more involved in due to the monies
"he is a 14-year veteran of Bain & Company, highlighting his depth of experience in health care mergers and the overall health care sector". Says it all really.
Anytime there’s a new sheriff in town, you can expect significant change. The overall strategy may remain the same but it will evolve. Some execs will leave either voluntarily or not. It’s what happens when there’s a new sheriff.
RIFs are always going to happen. They’re happening now or are scheduled to happen. That’s corporate America.
The bankruptcy and major litigation involving with the new CEO’s current company concern me. There’s a reason the board hired him despite those major liabilities. I’m not buying that those things didn’t happen on his watch. He’s been CEO since 2020. The litigation and bankruptcy filing happened in May 2023. Something is off. What does the board of directors really want to do with Humana and its assets? Why put him in charge?
He’s a young guy and probably talks a very good game. Kinda reminds me of that United Healthcare CEO that was around when there was talk of a merger. People were so excited to think of being led by this guy—until the deal fell apart due to United’s bad acts.
Eyes on a swivel, people. Eyes on a swivel.
A CEO that goes from 8 million salary his first year to 21 million his second year is a jerk and doesn’t care about the company or the people. Bye B.B. we have been waiting for this for a long time.
Is anyone else surprised that they named Jim Rechtin of all people. Just seems like an odd choice, considering Envision Health filed for bankruptcy. Why not promote within? Someone who knows the ins and outs of Humana and CenterWell and who is accumulated to our culture. Just seems strange to pick this random guy.
Also, it makes me wonder if Humana is in financial trouble. Bruce has never alluded to stepping down in the past, but in his email, he mentioned that this has been in the works for several years. He’s never mentioned that he or his wife had health issues, so it makes me curious on why he’s stepping down now. Things are suspicious…
Thoughts are...major layoffs/reorganization. My opinion is that he said he is stepping down in 2024. I would not bet on there not being layoffs this last Q3. I predict they will layoffs in Oct/Nov. Either way it's not stable here. Do not trust management as they are told to tell staff that everything is okay. Apply to jobs now and see what other options come out of it. At the end of the day these companies care only about the bottom line. They do not care if you have been with the company for over 5, 10 years or that you maybe have disease or if you can put food on the table for your family. Please take care of yourself and out your family first! Best of luck to all the Humana employees out their that have and will be affected by these changes. We have to support each other in times like this.