Health insurer Humana nearly doubled its first-quarter net income this year with $473 million, compared with last year's first-quarter profit of $248 million, representing a 90.7 percent increase.
The company brought in $10.5 billion in revenue in the first quarter, up about 2.6 percent year-over-year. Its benefit expenses dropped $155 million in first quarter 2013, paving the way for Humana to double its income ratio to 4.5 percent, almost twice as much as 2.4 percent last year.
The improved performance led Humana leaders to raise earnings expectations to between $8.40 and $8.60 per share in fiscal year 2013, but they were quick to caution investors that 2014 earnings are still uncertain due to massive changes under health reform.
Lackluster Payor Turnout for Illinois Exchange May Be True Nationwide
Vermont to Require Insurers to Cover Gender Reassignment Surgery
The company brought in $10.5 billion in revenue in the first quarter, up about 2.6 percent year-over-year. Its benefit expenses dropped $155 million in first quarter 2013, paving the way for Humana to double its income ratio to 4.5 percent, almost twice as much as 2.4 percent last year.
The improved performance led Humana leaders to raise earnings expectations to between $8.40 and $8.60 per share in fiscal year 2013, but they were quick to caution investors that 2014 earnings are still uncertain due to massive changes under health reform.
More Articles on Health Insurers:
State, Insurer Spending Could Lead to Better Exchange EnrollmentLackluster Payor Turnout for Illinois Exchange May Be True Nationwide
Vermont to Require Insurers to Cover Gender Reassignment Surgery