Fierce Healthcare November 3, 2020
Humana brought in $1.3 billion in profit for the third quarter, the insurer reported Tuesday morning.
But heading into the end of the year, the health insurance giant is bracing for some whiplash, projecting a loss in Q4, executives said on a call with investors.
Chief Financial Officer Brian Kane said the insurer is expecting a loss of about $2.40 adjusted earnings per share as health utilization rebounds while COVID-19-related costs remain high.
He said that service use has largely rebounded from “trough levels” seen in late March and early April at the height of pandemic-related shelter in place orders. In September and October, he said, utilization hovered at about 95% of expected pre-pandemic levels, with inpatient care utilization a...
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