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Humana beats quarterly profit estimates on strength in Medicare business

2024.07.31 06:54

(Reuters) -Humana beat Wall Street estimates for second-quarter profit on Wednesday, helped by strength in its government-backed Medicare Advantage insurance business for older adults.

The health insurer heavily depends on Medicare Advantage plans, under which the U.S government pays private insurers a set rate to manage healthcare for people aged 65 and older or with disabilities.

© Reuters. FILE PHOTO: A screen displays the logo and trading information for Humana on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 6, 2023.  REUTERS/Brendan McDermid/File Photo

Humana (NYSE:) raised its annual Medicare Advantage annual membership growth forecast by 75,000.

On an adjusted basis, Humana reported a profit of $6.96 per share, higher than the average analyst estimate of $5.85, according to LSEG data.



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