Humana profits Increase 21%–Medicare Part D Patients Are Lucrative?
Posted Aug 03 2010 6:07pm
I am sure by now you have read all the other insurer’s press releases touting big profits and some are at record levels, but the one thing that bothers me here is “do seniors and their healthcare” need to be called lucrative? It’ just something that bugs me a bit as I don’t think the patients themselves think in this fashion, but perhaps when negotiating issues with claims they might remind Humana of how “lucrative” they are (grin).
The articles says their claim ratio number improved but we don’t have numbers on where it was and where it ended up. BD
The health insurer Humana reported a 21 percent increase in second-quarter profit on Monday as the company’s latest strong performance in its vast government segment, led by its growing Medicare Advantage business, was reinforced by a big improvement in its commercial sector.
Humana said its lucrative Medicare Advantage business had posted double-digit enrollment growth in the quarter. Medicare Advantage plans are government-sponsored, privately run programs for the elderly that offer comprehensive health coverage.
The company earned $340.1 million, or $2 a share, up from $281.8 million, or $1.67 a share, in the period a year earlier. Revenue rose to $8.65 billion, or 9.5 percent, from $7.9 billion.
Its Medicare Advantage membership grew 17 percent, to 1.76 million, as of June 30.