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HEALTH INSURERS UNITED, ANTHEM AND HUMANA POST STRONG SECOND QUARTER EARNINGS AND INCREASE EARNINGS PROJECTIONS FOR 2021

 

Despite the ongoing Covid pandemic, Health insurers United, Anthem, and Humana have released their second quarter earnings reports and all show strong earnings.

UnitedHealth Group, which includes UnitedHealthcare, reported over 15% growth in revenues to $71.3 billion for the second quarter of 2021.  It also reported profits of $6 billion for the quarter.  In a news release announcing its second quarter earnings, United stated that had enjoyed “well-diversified growth at Optum and UnitedHealthcare.”  UnitedHealthcare’s revenues increased by $6.4 billion or 13% in the second quarter to $55.5 billion, with earnings from operations of $3.1 billion.  UnitedHealthcare also reported strong growth in its community and serious offerings, with total people served growing by nearly 1.2 million since the end of 2020.  As a result of its strong 2021 performance, United increased its full year net earnings outlook to $17.35 to $17.85 a share.

Anthem posted adjusted second quarter operating revenue growth of 15.8% over the prior quarter to $33.3 billion and total operating profits of $2.1 billion.  Anthem also reported strong membership growth of 1.9 million people from the prior year quarter, a growth of 4.4%.  Anthem’s press release announcing its earnings boasted of strong growth in its Medicare Advantage business through the acquisition of MMM, organic growth in the Medicaid market, and higher BlueCard activity.  As a result, Anthem increased in full year adjusted net income outlook from greater than $25.10 a share to greater than $25.50 a share.  Anthem repurchased 1.3 million shared of its common stock for $480 million in the second quarter. Anthem holds Blue Cross and Shield licenses in 14 states.

Humana reported increased revenues of 8.7% year over year for the second quarter of $43.3 billion, with adjusted pre-tax income of $2.4 billion.  Humana continues to expect individual Medicare Advantage membership growth of between 425,000 to 475,000 members.  As a result of its year to date performance, Humana increased its expected earnings per share on a GAAP basis to a range of $24.97 to $25.47 for the year.