Humana saw its operating income and profits jump in the second quarter of fiscal year 2019, as the payer expects a 16 percent growth in Medicare Advantage enrollment in 2019, according to recent financial statements.
Humana saw its total revenues climb to $16.2 billion in the quarter ended June 30, up 13.9 percent from $14.3 billion recorded in the same period a year prior. At the same time, Humana saw its total operating expenses climb 12.9 percent to $15.1 billion in the second quarter of this year, up from $13.4 billion in the same period a year prior.
The payer said results in its retail and healthcare services segments continue to exceed management expectations. In addition, Humana said its individual Medicare Advantage growth is the highest it has been in the past decade.
Humana saw its operating income rise 29.4 percent to $1.1 billion in the second quarter of this year, compared to $862 million recorded in the second quarter of 2018. The payer boosted its net income 387 percent in the second quarter of this year to $940 million, up from $193 million in the same period a year prior.
More articles on payers:
HCSC's CEO steps down: 3 things to know
HCSC CFO steps down days after CEO
UAB Health CEO on UnitedHealthcare amid dispute: Make $9B, but not on the backs of patients