Humana Reports $679 Million Profit As Medicare Business Improves

its Medicare Advantage business, the company reported July 31, 2024. In this photo is a Humana office in Louisville, Kentucky, US, on Monday, July 31, 2023. Photographer: Jon Cherry/BloombergHumana Wednesday reported a $679 million profit thanks to higher-than-expected growth of its Medicare Advantage business.

Humana raised its 2024 individual Medicare Advantage annual membership growth expectations by 75,000 seniors to a new target of 225,000. That’s a 4.2% increase, according to the company’s second quarter earnings report. Humana’s stock had been suffering earlier this year after the company in late January reported a surprising 2023 fourth quarter loss and higher than expected medical costs from its Medicare Advantage business.

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