Humana announced Wednesday it had acquired a minority stake in Healthpilot, which offers consumers artificial intelligence-driven guidance in selecting Medicare plan options.
Healthpilot focuses on Medicare Advantage plans, along with supplementary Medicare and Part D prescription drug plans. Humana said in a news release Healthpilot will remain payer-agnostic, meaning the tool will provide relevant suggestions to users regardless of carrier.
Read more: Medicare Advantage 2024 enrollment: winners and losers
Financial terms of the deal were not released.
Healthpilot was founded in 2020 and received an undisclosed amount of funding the same year from public holding company Envestnet. The company declined to disclose details about its ownership structure, other investors or number of customers.
A Humana spokesperson said the investment represents the next step in the company's strategy to evolve the web-based brokerage experience for seniors.
Humana reported in May it expected to lose 5% of its 6.1 million Medicare Advantage members next year. The company announced during a January earnings call it planned to save $700 million on administrative expenses over several years through the use of artificial intelligence and other technologies.
