Bengaluru: Humana beat Wall Avenue estimates for third-quarter revenue on Wednesday, buoyed by power in its government-backed Medicare Advantage insurance coverage enterprise for older adults.
The health insurer depends closely on Medicare Benefit plans, by means of which the U.S. authorities pays personal insurers a set charge to handle healthcare for folks aged 65 and older or these with disabilities.
Humana reported a medical cost ratio of 89.9%, up from 86.6% a 12 months earlier. This ratio, which tracks prices, represents the proportion of premiums spent on medical care.
Analysts had anticipated the medical price ratio to be 89.94% for the quarter.
On an adjusted foundation, the corporate reported a revenue of $4.16 per share, larger than the common analyst estimate of $3.40, in line with knowledge polled by LSEG.
The Louisville, Kentucky-based firm reported a quarterly adjusted revenue of $29.3 billion beating estimates of $28.67 billion. (Reporting by Sriparna Roy in Bengaluru; Modifying by Shinjini Ganguli and Tasim Zahid)
