Forbes April 26, 2023
Humana, which made big investments last year in its Medicare business, now says its individual enrollment in the popular Advantage plans would jump by “at least 775,000” for 2023.
Such growth, which is a key driver for Humana, means Medicare Advantage membership will see 17% growth over its 2022 ending membership and be “meaningfully higher than industry growth,” the company said Wednesday.
Humana’s new projection for even better-than-expected 2023 growth comes a year after the health insurer said it would spend $1 billion to “fund growth and investment” in its Medicare Advantage business following a 2022 disclosure the health insurer would add fewer seniors to such plans than expected.
Medicare Advantage plans, which are a large share of Humana’s business,...