The Underwriters Group Introduces Franklin Health Plan to Kentucky Employers Amid Humana's Withdrawal from the Market

Franklin Health Plan Brokered by The Underwriters Group Gives Employers New Option for Group Health Insurance

LOUISVILLE, Ky., April 10, 2023 /PRNewswire/ -- The Underwriters Group, a Higginbotham partner located in Louisville, KY, that provides property/casualty insurance and employee benefit services, announced today that it is the exclusive broker of the Franklin Health Plan in Kentucky. The announcement follows Humana's decision to withdraw from the employer-based insurance market. Based in Louisville, KY, Humana's departure leaves Kentucky employers with limited group medical plan options for their employees.

Humana announced in February 2023 that it will exit the employer-based insurance business during the next 18 to 24 months to focus on government-backed programs like Medicaid and Medicare and specialty businesses. Its employer group business includes fully insured health insurance plans purchased by employers and employer-sponsored health plans managed by Humana.

The Franklin Health Plan helps fill the gap left by Humana by giving employers a competitive alternative through a nationally leading broker. The Underwriters Group is part of Higginbotham, one of the largest independent insurance brokers in the U.S. It is the only broker of the Franklin Health Plan in Kentucky.

Stuart Ferguson, managing partner of Higginbotham's Kentucky region, said, "The Franklin Health Plan not only serves employers that were with Humana, it's a great option for any employer with 25 to 500 employees. It functions much like a fully-insured plan, but it gives employers an opportunity to earn back a portion of their premium."

The Franklin Health Plan is now available for plan years effective immediately. Employers in Kentucky interested in learning more about the plan may contact David Brown, dbrown@higginbotham.com, or John Jennings, jojennings@higginbotham.com.

About Higginbotham & The Underwriters Group

Higginbotham is a single source solution for insurance, financial and HR services ranked in the top 20 largest independent insurance brokerages in the U.S. The employee-owned firm based in Fort Worth, Texas, opened in 1948 and today serves businesses and individuals through locations coast-to-coast. The Underwriters Group, based in Louisville, KY, is an independent commercial and personal insurance and employee benefits broker that joined Higginbotham in January 2022. It provides access to all of Higginbotham's products and services through its local professionals. Visit higginbotham.com for more information.

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SOURCE Higginbotham