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Article: Humana 3Q profit jumps on government programs
- Article from:
- AP Online
- Article date:
- November 2, 2009
- Author:
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Health insurer Humana Inc. rode its strong government business in posting a 65 percent jump in third-quarter profit Monday, as bulging membership and premiums from Medicare Advantage overcame a lackluster commercial segment hampered by the weak economy.
Louisville-based Humana said its quarterly revenue rose 8 percent as enrollment in its Medicare Advantage offerings grew 11 percent from a year ago.
But the company saw enrollment in its plans sold to employers fall by 7.6 percent from a year ago, contributing to a pretax loss in its commercial segment.
Still, that pretax loss on the commercial side was "better than we modeled," Goldman Sachs analyst Matthew ...