Humana expects to lose a "few hundred thousand" Medicare Advantage members through market and plan exits in 2025.
On a July 31 investor call, CFO Susan Diamond said the company expects to lose a "few hundred thousand" members, primarily through exiting markets where its plans are not profitable.
Humana has around 6.2 million Medicare Advantage members.
The company previously said it would exit markets in 2025 because of lowered reimbursement rates from CMS and rising medical costs.
Humana CEO Jim Rechtin said the company will exit plans that do not have a path to profitability.
"We have another set of plans that is either marginally profitable or marginally unprofitable, but we see a path to recovering the profitability of those plans. We are working on that through reducing benefits and changing our pricing," he said. "Then we have a set of plans that are actually quite attractive, how they perform today, and we are protecting those plans."
In most areas where Humana cuts plans, members will have access to a different Humana MA plan, Mr. Rechtin said.
"There's very few geographies we will fully exit," he said.
Other payers have said they plan to exit Medicare Advantage markets in 2025 as they face rising medical costs and a tougher reimbursement environment. In May, CVS Health executives said the company could lose up to 10% of its MA members because of market exits and cuts to supplemental benefits.
Centene executives also said the company will exit a handful of Medicare Advantage markets in 2025.