HUM · 10-Q · 2026Q3

HUMANA INC

Filed 2026-11-06 · Healthcare · View original filing on EDGAR

Everything HUM's SEC filings said, ranked

Ranked Events

• Capital Adequacy and RequirementsImportance 81 · Surprise 64
  As of June 30, 2026, Humana’s state-regulated subsidiaries had approximately $15.7 billion of aggregate statutory capital and surplus, exceeding aggregate minimum regulatory requirements of $8.9 billion. The…
• Regulatory Capital and DividendsImportance 75 · Surprise 64
  State-regulated subsidiaries face state-level restrictions on dividends, loans, and other transfers to Humana Inc., including prior approval requirements for certain extraordinary dividends. As of June 30, 2026, these…
• Medical Cost TrendsImportance 71 · Surprise 48
  Consolidated benefits expense increased 29.8% to $36.3 billion in the 2026 quarter and 28.4% to $105.4 billion in the first nine months. The consolidated benefit ratio rose 280 basis points to 93.9% in the quarter and…
• Membership / Enrollment TrendsImportance 69 · Surprise 64
  At September 30, 2026, individual Medicare Advantage membership was 6.46 million, up 23.3% year over year, including 958,300 D-SNP members, a 25.1% increase. Group Medicare Advantage membership grew 27.8% to 728,300,…
• Primary Care Joint VentureImportance 65 · Surprise 60
  In October 2026, Humana entered a joint venture agreement with funds and accounts managed by HPS Investment Partners, part of BlackRock, to operate its primary-care strategic partnership, replacing the CenterWell and…
• Cash Flow and LiquidityImportance 63 · Surprise 64
  Cash and cash equivalents increased to approximately $6.9 billion at September 30, 2026, from $4.2 billion at December 31, 2025. Operating cash flow rose to $5.4 billion in the first nine months of 2026 from $2.6…
• Interest Expense TrendsImportance 61 · Surprise 66
  Interest expense increased 29.2% to $217 million in the third quarter of 2026 and 25.2% to $607 million in the first nine months. The increases were primarily driven by financing costs, including 2026 liquidity and…
• Revenue Performance and MixImportance 59 · Surprise 48
  Total revenue increased 26.1% to $41.2 billion in the third quarter of 2026 and 25.2% to $121.7 billion in the first nine months, compared with the corresponding 2025 periods. Insurance premiums rose 26.0% in the…
• Operating Expense TrendsImportance 53 · Surprise 40
  Consolidated operating costs increased 12.6% to $4.6 billion in the quarter and 14.4% to $12.6 billion in the first nine months of 2026. Despite higher dollars, the consolidated operating cost ratio improved 130 basis…
• CenterWell Payor-Agnostic GrowthImportance 52 · Surprise 56
  CenterWell external services revenue increased 40.4% in the quarter and 35.2% in the nine-month period, primarily reflecting expansion of its payor-agnostic client base. Growth was concentrated in primary care and…
• Restructuring ChargesImportance 48 · Surprise 74
  Humana recorded value-creation and transformation charges of $179 million in the first nine months of 2026, compared with $320 million in the first nine months of 2025, a 44% decrease. The charges were $25 million in…
• Income Tax Rate ChangesImportance 40 · Surprise 56
  The effective tax rate was 19.7% for the third quarter of 2026, compared with negative 77.3% in the 2025 quarter. For the first nine months, the effective rate rose to 24.8% from 20.1% in 2025. Humana attributed the…
• Medicare GLP-1 Bridge ProgramImportance 38 · Surprise 60
  Effective July 1, 2026, Humana began serving as central processor for a time-limited CMS demonstration giving eligible Medicare Part D beneficiaries access to certain GLP-1 medications for weight management outside the…
• Value-Based Care IntegrationImportance 23 · Surprise 24
  Humana’s integrated care delivery model combines physician-directed care, member engagement, and data analytics, with the stated aim of improving health outcomes, affordability, and the member experience. The company…
• Capital ExpendituresImportance 22 · Surprise 22
  Net capital expenditures, excluding acquisitions, were $390 million in the first nine months of 2026, up from $344 million in the comparable 2025 period, an increase of approximately 13%. Spending primarily supported…

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