Humana nearly doubles Q2 profit

Like other big commercial health insurers, Humana's revenue and profit soared in the second quarter of this year. Results were heavily affected by "the significant, temporary deferral of care" brought by stay-at-home orders and other pandemic-related measures.

Humana said it anticipates its second quarter results will be offset later this year as demand for healthcare services normalizes and potential future surges of COVID-19 lead to more healthcare use.

Humana's revenue totaled $19 billion in the most recent quarter, up 17.5 percent year over year. Expenses were up 10 percent year over year, with Humana reporting $16.6 billion in operating expenses for the quarter. The insurer's operating income more than doubled year over year to $2.4 billion, and Humana ended the second quarter with a $1.8 billion profit, nearly double the $940 million the insurer posted in the same quarter a year before.

More articles on payers:
Anthem doubles profit in Q2
Financial updates from Anthem, Cigna & 2 more payers
17 payer exec moves in July

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