Bruce Japsen has written about healthcare business and policy for three decades. He has covered the rise, fall and rise again of health reform, chronicling trends that include the influence of Bill and Hillary Clinton to Barack and Michelle Obama from Chicago where he's based.
Advantage business that has been hit with higher costs. In this photo is a Humana office in Louisville, Kentucky, on Monday, July 31, 2023. Photographer: Jon Cherry/Bloomberg Humana Wednesday reported a $480 million profit and higher-than-expected growth of its Medicare Advantage business that has been hit with higher costs.
But Humana and rival operators of Medicare Advantage plans have been hit this year with higher costs in part due to seniors who put of getting medical care during the Covid-19 pandemic and are now returning for treatments. “The elevated medical cost trend was partially offset by the impact of the pricing and benefit design of the company's 2024 Medicare Advantage products, which included a reduction in benefits in response to the net impact of the 2024 final rate notice and the initial emergence of increased medical cost trends in 2023,” Humana said in its earnings report.
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