The company published its second quarter earnings report July 31. In Q2 2023, Humana posted $959 million in net income.
Total revenue in the second quarter was $29.5 billion, up 10.4% year over year.
Humana’s medical loss ratio was 89% in the second quarter.
The company affirmed its year-end adjusted earnings guidance to about $16, and revised its 2024 earnings guidance to $12.81 per share.
Humana’s total medical membership in the second quarter was 16.3 million, down 4.8% year over year. Its Medicare Advantage membership grew to nearly 6.2 million.
Humana raised its 2024 individual Medicare Advantage membership growth expectations by 75,000, predicting to add around 225,000 more members.
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