Signage for Humana Inc. is pictured at a health facility in Queens, New York City, U.S., November 30, 2021. REUTERS/Andrew Kelly/File Photo
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Aug 2 (Reuters) – Humana’s (HUM.N) second-quarter profit beat Wall Street estimates on Wednesday, buoyed by a lesser increase in medical costs than expected.
Insurers have reported better-than-expected medical loss ratios (MLR) – the percentage of its spend on claims over the premiums it collects – for the second quarter despite a warning that costs, especially those with Medicare plans, would surge this year after older adults resumed making appointments for elective procedures they had delayed during the pandemic.
Humana reported an MLR of 86.3% for the quarter, up from 85.8% a year earlier but lower than the average of analysts’ estimates of 86.50%, according to Refinitiv data.
The company had said in June it expected the business’ second-quarter MLR to be
Humana beats profit estimates on lower-than-expected medical costs
