Sector: Healthcare|Industry: Healthcare Plans|Market Cap: $28.88B|Employees: 67.6K
Humana Inc. is a health and well-being company committed to putting health first for its teammates, customers, and company. They operate through two segments: Insurance, which offers medical and supplemental benefit plans, and CenterWell, which provides payor-agnostic healthcare services. Humana's primary revenue streams are derived from Medicare and state-based contracts, with a significant portion from Medicare Advantage plans. The company has a national presence and a geographically diverse membership base.
Total revenues increased by 10.7% year-over-year to $29.6 billion, driven by a 13.8% increase in Medicare premiums. However, net income decreased by 40.3% to $739 million due to increased benefit expenses and operating costs.
The consolidated benefit ratio increased from 85.5% to 88.9%, reflecting higher Medicare Advantage medical cost trends. This indicates that a larger portion of premiums is being used to cover healthcare costs.
Investment income increased by 49.2% to $288 million, driven by higher interest income on debt securities. This suggests effective management of the investment portfolio and a favorable interest rate environment.