Company: HUM
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000049071-25-000057
Chunk: 23

Company: HUMANA INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 23
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 89.5% for the 2025 period resulting from the net favorable impact of the factors impacting the quarterly comparison. The period comparison was further affected by the favorable workday impact in the 2025 period combined with the favorability associated with the change in Medicare Part D seasonality due to the IRA. 

42

Operating Costs

The Insurance segment operating cost ratio decreased 10 basis points from 9.2% for the 2024 quarter to 9.1% for the 2025 quarter and decreased 10 basis points from 8.6% for the 2024 period to 8.5% for the 2025 period primarily due to administrative cost efficiencies resulting from the value creation initiatives and operating leverage associated with increased revenues from the impact of the IRA as previously described. These factors were partially offset by the operating leverage impact of the loss of individual Medicare Advantage membership.

CenterWell Segment

ChangeThree months ended September 30,Nine months ended September 30,Three months ended September 30, 2025 vs 2024Nine months ended September 30, 2025 vs 20242025202420252024$%$%($ in millions)Revenues:Services:Home solutions$354$326$1,049$996$288.6%$535.3%Pharmacy solutions35223295167212051.7%27941.5%Primary care6273191,60988230896.6%72782.4%Total external revenues1,3338773,6092,55045652.0%1,05941.5%Intersegment revenues:Home solutions5315251,5911,50961.1%825.4%Pharmacy solutions3,0782,7018,4587,96337714.0%4956.2%Primary care9379382,8532,784(1)(0.1)%692.5%Intersegment revenues4,5464,16412,90212,2563829.2%6465.3%Total revenues$5,879$5,041$16,511$14,806$83816.6%$1,70511.5%Income from operations$305$382$1,041$1,002$(77)(20.2)%$393.9%Operating cost ratio93.9%91.3%92.7%92.1%2.6%0.6%

Income