Humana slashes Medicare Advantage outlook, shares tumble

Healthcare DIVE January 7, 2022
Samantha Liss

Dive Brief:

• Humana slashed its forecast for how many Medicare Advantage members it expects to pick up in 2022, sending shares tumbling 19% on Thursday compared with the prior close.
• CEO Bruce Broussard said members were active shoppers during the most recent open enrollment period, creating churn in the industry, which resulted in Humana losing members to other insurance carriers.
• The Louisville-based insurer now expects to add between 150,000 to 200,000 Medicare Advantage members. It previously forecast between 325,000 and 375,000 members.

Dive Insight:

Competition in the latest open enrollment period was “very aggressive” as Humana’s competitors came in with lower prices and spent more on marketing to attract customers, Broussard said during a Goldman Sachs virtual conference...

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