Company: HUM
Filing Date: 2025-03-03
Form Type: 424B5
Source: 0001628280-25-009237
Chunk: 6

Company: HUMANA INC
Filing Date: 2025-03-03
Form: 424B5
Chunk 6
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 indebtedness, including borrowings under our commercial paper program. See “Use of Proceeds” in this prospectus supplement. |
| Additional Issuances |     | We may “re-open” any series of notes offered hereby and issue an unlimited aggregate principal amount of additional notes of each such series in the future. See “Description of the Notes—Additional Issuances” in this prospectus supplement.                                                                                                                                                                                              |
| Risk Factors         |     | See “Risk Factors” beginning on pageS-4of this prospectus supplement and the other information included or incorporated by reference in this prospectus supplement and the accompanying prospectus for a discussion of certain factors you should carefully consider before deciding to invest in the notes.                                                                                                                                 |

<div align='center'>S-3</div>

### RISK FACTORS
Before making a decision to invest in the notes, you should carefully consider the following:

• the risk factors described below and those contained in the documents incorporated by reference in this prospectus supplement and the accompanying prospectus; and

• the other information included in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference in this prospectus supplement and the accompanying prospectus.

#### Risks Associated with the Notes
Our Ability to Obtain Funds from Our Subsidiaries Is Limited and the Notes Will Be Structurally Subordinated to All Liabilities of Our Subsidiaries.

Because we operate as a holding company, the notes are structurally subordinated to all existing and future indebtedness and other liabilities of our subsidiaries. Our subsidiaries are the operating entities which generate our revenues. As a result, we will be dependent upon dividends, administrative expense reimbursements, and intercompany transfers of funds from our subsidiaries to meet our payment obligations on the notes. However, all of our subsidiaries that earn premiums are regulated by state departments of insurance. In most states, we are required to seek prior approval by these state regulatory authorities before we transfer money or pay dividends from these subsidiaries that exceed specified amounts, or, in some states, any amount. We are also required by law to maintain specific prescribed minimum amounts of capital in these subsidiaries. See Note 16 to the audited Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of our Form 10-K for the fiscal year ended December 31, 2024, which Form 10-K is incorporated by reference in this prospectus supplement. In addition, we normally notify the state departments of insurance prior to making payments that do not require