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Humana Invests Additional $25 Million in Affordable Housing Efforts

Originally published at press.humana.com. Humana ranked No. 13 on The DiversityInc Top 50 Companies for Diversity list in 2021.

 

As part of its national commitment to improve housing stability for vulnerable members and communities, Humana Inc. announced an additional $25 million investment in three syndicated funds to increase the supply of affordable housing across the country, including in the states of Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Ohio, Oklahoma, South Carolina, Virginia and Wisconsin. The latest round of funding follows Humana’s initial $25 million investment last year and doubles the company’s total financial commitment to affordable housing.

“Humana’s increased investment in affordable housing is an effective way to help communities reduce housing insecurity and improve health outcomes for vulnerable populations, which oftentimes include Medicaid and dual-eligible members,” said John Barger, Humana Medicaid President. “Today more than ever, our communities are in need of creative housing solutions. Humana’s national housing strategy will help people access safe and affordable places to live and provide the stability needed for them to focus on achieving their best health. We are pleased to double our financial investment in affordable housing and look forward to the positive impact these funds will have in a growing list of communities around the country.”

Humana considers housing stability to be a key social determinant of health and is one of the issues the company is addressing through its Bold Goal social health initiative. To help improve the health of its members and communities, Humana’s national housing strategy is focused on three key areas — Housing Stability and Homelessness Prevention, Stabilizing Individuals with Significant Health Risks with Incremental Clinical Support, and Strategic Investments to Increase Community Capacity. The company has initiatives underway to support all three areas, including its affordable housing commitment which now totals $50 million. This investment will help address the short supply of low-cost rental units and create affordable housing capacity in many of the communities that Humana serves.

Humana’s latest $25 million investment will be deployed through three syndicated funds that have been established to increase affordable housing capacity through the use of low-income housing tax credits (LIHTC). The three syndicators, CREA, LLC, PNC Real Estate and Raymond James work with developers to identify potential affordable housing properties for either rehabilitation or new construction in numerous cities across the country.

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