Humana's third quarter earnings report told a story of slight revenue increases, dipping income and developing membership.
Here are five takeaways:
1. Humana reported $20.7 billion in revenue this quarter, up from $20.1 billion in 2020's third quarter. It also puts 2021's year-to-date revenue nearly $4 billion above last year's third quarter report.
2. The insurer also recorded $1.64 billion in income, which is down 6.8 percent from 2020's third quarter income of $1.76 billion.
3. Medicare Advantage membership increased 462,000 lives year to date (12 percent) to a total of 4.4 million at the end of the third quarter.
4. The company anticipates 11 percent year-over-year growth in Medicare Advantage enrollment by the end of 2021, adding 450,000 members.
5. Humana also recorded about 560,000 group Medicare Advantage enrollees (down 9 percent), 3.6 million standalone PDP members (down 7 percent) and about 909,000 in state-based contract membership and other enrollment (up 25 percent).