Humana reported $480 million in net income in the third quarter of 2024, down 42% since the same period last year, according to its third quarter earnings report published Oct. 30.
Total revenue in the third quarter was $29.4 billion, up 11.3% year over year.
Humana's medical loss ratio was 89.9% in the third quarter.
The company slightly raised its year-end adjusted earnings guidance to at least $16, and revised its 2024 earnings guidance to at least $12.89 per share.
Humana's total medical membership in the third quarter was nearly 16.4 million, almost unchanged year over year. Medicare Advantage membership stands at more than 6.2 million.
Humana raised its 2024 individual Medicare Advantage membership growth expectations by 40,000, predicting to add around 265,000 more members this year.