Company: HUM
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000049071-25-000007
Chunk: 43

Company: HUMANA INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 43
---
3Unaudited2024(in millions)2022 & Prior$76,105 $75,447 $75,399 202389,328 88,675 2024101,365  Total$265,439 Cumulative Paid Claims, Net of ReinsuranceFor the Years Ended December 31,Claims Incurred Year2022Unaudited2023Unaudited2024(in millions)2022 & Prior$67,287 $74,989 $75,399 202379,545 88,319 202491,281  Total254,999 Benefits payable, net of reinsurance$10,440 For additional information regarding our benefits payable and benefits expense recognition, refer to Note 2 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" in this Form 10-K.

96

Humana Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

12. INCOME TAXES 

The provision for income taxes consisted of the following for the years ended December 31, 2024, 2023 and 2022:202420232022 (in millions)Current provision:Federal$566 $915 $755 States and Puerto Rico39 85 107 Total current provision605 1,000 862 Deferred benefit(192)(164)(100)Provision for income taxes$413 $836 $762 The provision for income taxes was different from the amount computed using the federal statutory rate for the years ended December 31, 2024, 2023 and 2022 due to the following:202420232022 (in millions)Income tax provision at federal statutory rate$340 $698 $750 States, net of federal benefit, and Puerto Rico36 61 49 Tax exempt investment income(3)(3)(3)Nondeductible executive compensation31 19 30 State lookback review refund claims(17)— — Tax effect from sale of Gentiva Hospice— — (72)Unrecognized Tax Benefits29 37 — Other, net(3)24 8 Provision for income taxes$413 $836 $762     Deferred income tax balances reflect the impact of temporary differences between the tax bases of assets or liabilities and their reported amounts in our consolidated financial statements, and are stated at enacted tax rates expected to be in