The Humana world headquarters building in downtown Louisville, KY.
Despite posting a net loss of $693 million in the fourth quarter of 2024, Humana’s total revenue for the year increased 10.7% — to $117.8 billion — according to the insurance company’s year-end earnings report released Feb. 11. The quarterly loss was significantly greater than the $541 million loss during the same period the previous year.
Total revenue for the fourth quarter was up 10.4% over 2023, to $29.2 billion. In fact, Zacks Equity Research claims Humana has topped consensus revenue estimates four times over the last four quarters.
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The favorable year-over-year quarter and full-year consolidated revenues comparisons were primarily driven by higher per-member Medicare premiums and membership growth in both Medicare Advantage and state-based contracts, Humana officials said.
However, these factors were partially offset by the continued decline in stand-alone prescription drug plan membership, as well as a decline in membership in the group commercial medical business as a result of the company’s decision to exit that sector.
“We were pleased with Humana’s solid finish to the year, while also reaffirming our outlook for 2025,” president and chief executive officer Jim Rechtin said in a statement. “We are confident in our long-term strategy, and 2025 will be a critical step in returning to compelling, normalized margins.”
Part of that long-term strategy, according to the company, is continuing to advance Humana’s Medicaid and CenterWell segments, which collectively are expected to drive increased earnings contributions. The CenterWell health care segment includes pharmacy (but not PBM operations), primary care, and home solutions.
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