Shares of Humana are toppling after the health insurancecompany stated it was still dealing with higher-than-expected care expenses from its Medicare Advantage consumers and it sliced profits expectations
ByTOM MURPHY AP health author
January 18, 2024, 9: 28 AM
FILE – A Humana logodesign is seen in a lake on the Palmer Private Course at PGA West throughout the veryfirst round of the Humana Challenge PGA golf competition in La Quinta, Calif., in this Jan. 17, 2013, file picture. Shares of Humana are toppling after the health insurancecompany stated it was still dealing with higher-than-expected care expenses from its Medicare Advantage clients and it sliced profits expectations. The health insuranceprovider stated Thursday, Jan. 18, 2024 that its Medicare Advantage clients utilized more inpatient care than it anticipated in November and December. (AP Photo/Ben Margot, File)
The Associated Press
Shares of Humana toppled Thursday after the health insurancecompany stated it was dealing with higher-than-expected expenses from its Medicare Advantage clients, requiring it to slice earnings expectations.
The upgrade from Humana showedup less than a week after competitor UnitedHealth Group shocked Wall Street, stating that its general medical expenses had skyrocketed 16% in its most current quarter.
Humana stated its Medicare Advantage clients utilized more inpatient care than it anticipated in November and December. The health insuranceprovider likewise saw more development in care that doesn’t include a healthcenter remain, like physician gosto and outpatient surgicaltreatments.
Humana stated it now anticipates changed profits for last year to overall about $26.09 per share.
That falls more than $2 listedbelow what it forecasted in November. Wall Street projections $28.29 per share, according to the information company FactSet.
Humana has yet to lay out its projection for2024
The business stated Thursday that its still attempting to figure out the effect existing patterns will have on