Kentucky-based health insurer Humana reported a 43 percent increase in its third quarter profits, largely supported by increases in Medicare Advantage membership.
Humana said net income rose to $450 million, or $2.98 per share, in the third quarter ended Sept. 30, from $314 million, or $2.09 per share, a year earlier.
U.S. antitrust authorities are challenging Humana’s proposed acquisition by Hartford-based Aetna, as well an Anthem-Cigna deal.
Brian A. Kane, senior vice president and chief financial officer for Humana, attributed the increases to better-than-expected performance in Medicare Advantage and Healthcare Services and anticipated more of the same in 2017.
“We are pleased that our third-quarter results enable us to reaffirm our recently-raised EPS guidance for 2016, which includes two meaningful guidance increases during the course of the year,” Kane said.
