Humana Sees Higher COVID Costs, Still-Lagging Utilization

While Humana Inc., like other health insurers, has seen its profits swell as members avoided non-coronavirus-related care during the pandemic, the company is making it crystal clear that those financial gains will be erased before the year is over — even if the use of medical services doesn’t fully bounce back.

“We continue to expect our results for the second half of 2020, including an anticipated loss in the fourth quarter, to entirely offset the significant outperformance experienced in the first half of the year that resulted from historically low medical utilization levels,” Chief Financial Officer Brian Kane said during Humana’s Nov. 3 earnings call to discuss third-quarter results, according to a transcript from The Motley Fool.

0 Comments
© 2023 MMIT
Leslie Small

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

Related Posts

businessman-viewing-news-update-journalism-headline-on-a-laptop
January 27

News Briefs: ACA Marketplace Enrollment Tops 16.3M

READ MORE
capitol-hill
January 27

Even With Split Congress, Some Experts Predict Heightened Health Care Oversight

READ MORE
wall-street-logo
January 27

Elevance Sees Double-Digit Percentage EPS Growth for Fifth Consecutive Year

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today