Humana posted a 38 percent increase in profits year over year and expects to exceed the industry's average Medicare Advantage growth rate this year, according to the company's second-quarter earnings released Aug. 2.
Total revenues in the second-quarter were $26.7 billion, up 13 percent year-over-year.
The company posted $959 million in net income in the second-quarter, up from $696 million in the second-quarter of 2022.
The company affirmed its year-end adjusted earnings guidance to at least $28.25 per share.
The company expects to add about 825,000 Medicare Advantage members this year, reflecting an 18 percent growth rate. Total Medicare Advantage membership was nearly 5.8 million as of June 30, up 12.9 percent from the same time period last year.
The company's total medical membership was 17.1 million at the end of the second quarter, which is nearly unchanged from 2022.
Humana's medical loss ratio was 87.3 percent in the second-quarter.