Forbes July 31, 2024
Humana Wednesday reported a $679 million second quarter profit thanks to higher-than-expected growth of its Medicare Advantage business.
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.
Humana raised its 2024 individual Medicare Advantage annual membership growth expectations by 75,000 to a new target of 225,000. That’s a 4.2% increase, according to the company’s second quarter earnings report.
Humana reported $29.5 billion in total revenue in the quarter compared to $26.7 billion in the year-ago period. “Revenue for the quarter was slightly favorable to expectations driven...
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