Forbes August 2, 2023
The health insurer Humana, which made big investments in its Medicare business, now says its individual enrollment in the popular Advantage plans would “grow by approximately 825,000 members in 2023.”
Such growth, which is a key driver for Humana, means Medicare Advantage membership will see 18% growth over its 2022 ending membership and be ahead of an earlier forecast of “at least 775,000 members.”
Humana’s new projection for even better-than-expected 2023 growth released Wednesday with the company’s second quarter earnings report 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.
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