Humana eyes $700M cuts amid $541M loss
02/09/24 at 03:00 AM
Humana eyes $700M cuts amid $541M loss
Modern Healthcare, by Nona Tepper; 1/25/24
Humana plans to trim $700 million in administrative expenses after recording a disappointing fourth quarter and 2023, the company announced Thursday. The health insurer warned investors last week that medical costs exceeded expectations in 2023. On Thursday, the company disclosed that expenses were $3 billion more than anticipated. Quarterly and annual earnings didn't meet projections amid rising costs and disadvantageous Medicare Advantage policies.