Forbes October 30, 2024
Humana Wednesday reported a $480 million net income and higher-than-expected growth of its Medicare Advantage business that has been hit with higher costs.
Medicare Advantage plans, which are a big share of Humana’s business, contract with the federal government to provide extra benefits and services to seniors, such as disease management and nurse help hotlines with some also offering vision, dental care and wellness programs.
But Humana and rival operators of Medicare Advantage plans have been hit this year with higher costs in part due to seniors who put off getting medical care during the Covid-19 pandemic and are now returning for treatments. In Humana’s third quarter, benefits expenses were up more than $3 billion to $25 billion compared to...
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