4th Quarter 2020 Highlights from Company Earnings Release:
- Reaffirms FY 2021 expected individual Medicare Advantage membership growth range of approximately 425,000 to 475,000 members, representing expected year-over-year growth of approximately 11 to 12 percent
- “Despite the pandemic, Humana has continued to accelerate on all fronts, including our short-term operating and financial performance, our ability to advance our long-term strategic objectives, and our customer centricity efforts,” said Bruce D. Broussard, Humana’s President and Chief Executive Officer. “Our response to the pandemic highlighted the value of our Medicare Advantage (MA) program, most notably its focus on supporting underserved populations and on addressing health disparities, critical areas of importance for our company, and for our country. To that end, we had strong MA membership growth in 2020 of 11 percent, including Dual Special Needs Plan (D-SNP) membership growth of 41 percent, and Medicaid footprint expansion from three states to six. We also continued to invest in our primary care and home assets to expand access to care, particularly for underserved populations. Given the strength of our underlying core business, combined with our continued strategic investments, we anticipate solid growth in 2021 and beyond.”
Medicare Advantage (Individual + Group MA)membership of 4,575,900 as of the 4th quarter, a 28,800 increase compared to the end of the 3rd quarter 2020 and 463,400 increase from 4th quarter 2019.
Medicare Supplement lives of 335,600 as of the 4th quarter 2020, an increase of 4,300 lives compared to end of the 3rd quarter 2020 and 37,200 compared to the prior year 3rd quarter.
