Healthcare DIVE April 24, 2024
Because of the final rates for next year, Humana will have to enact “larger benefit reductions to achieve stable margins,” its CFO told investors.
Dive Brief:
- Humana has pulled its profit outlook for 2025, citing declining Medicare Advantage payment rates and other factors creating more uncertainty than normal.
- Previously, the insurer expected between $6 and $10 in adjusted earnings per share growth next year. The withdrawal followed the release of first-quarter financial results on Wednesday, wherein Humana beat Wall Street expectations for earnings and revenue with a topline of $29.6 billion, up 11% year over year. However, the payer’s net income fell to $741 million, down from $1.2 billion during the same time last year, due to a surge...
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