Humana ended 2020 on a down observe, posting a report net loss of $274 million in the fourth quarter, economical documents display.
An earnings call transcript from the insurance policies giant reveals that a sharp raise in COVID-19 admissions happened throughout its markets all through the very last few months of the 12 months, though most of all those expenses ended up balanced out by a decline in non-coronavirus treatment.
The loss was a stark contrast to the $512 million profit Humana posted in This autumn 2019. Regardless of the sizable net loss, however, the business continue to managed a $3.one billion profit for the 12 months, a important twenty five% raise from 2019. Its pre-tax income was $four.6 billion for the 12 months, a 33% 12 months-above-12 months raise.
What’s THE Affect?
Humana, like lots of insurers, benefited from buyer reluctance to seek out health-related treatment, though in 2021