HUMANA REPORTS HIGHLY PROFITABLE FOURTH QUARTER

Humana, Inc. has released its fourth quarter 2019 financial results, which show profits beating analysts’ expectations. Humana reported $16.2 billion in fourth quarter revenue, up from $14 billion in the fourth quarter of 2018, with fourth quarter profits of $512 million. This growth in revenue and profits was attributed, in part, to growth in Medicare Advantage premiums and membership. Full year earnings per share were also higher than anticipated, coming in at $20.10 on a GAAP basis, and $17.87 on an adjusted basis.

Humana reported having 3.5 million Medicare Advantage members at the end of 2019, and projects that membership to grow by 270,000 to 300,000 members in fiscal year 2020, for a growth rate of 9.2%.  In reporting these numbers, Humana’s Chief Financial Officer Brian Kane stated:  “Seniors are increasingly choosing Medicare Advantage plans, and Humana’s value proposition, consumer orientation and strong brand resonate in the market.”

Unfortunately, the attorneys of Whatley Kallas, LLP are seeing health insurance companies, including Humana, deny and underpay legitimate Medicare Advantage claims of our hospital clients, a practice that no doubt adds to the profits of the health insurance companies.