Humana saw its net income rise 27.3 percent in the third quarter of fiscal year 2018 as the health insurer continued to see strong demand for its Medicare Advantage business.
Humana's third quarter revenues were up 7 percent to $14.2 billion, compared to $13.3 billion reported in the same period a year prior. Revenues outpaced expenses, which climbed 6.6 percent year over year to $13.2 billion, up from $12.4 billion in the same period a year prior.
Humana also saw income from operations increase 12 percent to $961 million, up from $858 million reported in the third quarter of 2017. Humana ended the three-month period with net income of $644 million, up from $499 million reported in the same period a year prior.
"In addition, the company continues to benefit from a lower tax rate year-over-year as a result of the Tax Reform Law enacted in the fourth quarter of 2017, allowing it to invest pretax dollars in its employees, the communities of its members, technology and its integrated care delivery model to drive more affordable healthcare and better clinical outcomes," according to Humana.