Summary Box: Humana posts 35 percent profit gain

AP News
Posted: Aug 01, 2011 10:22 AM
Summary Box: Humana posts 35 percent profit gain

MEDICARE BUMP: Health insurer Humana Inc. says second-quarter enrollment in its individual Medicare Advantage plans rose 10 percent to 1.6 million members. Humana is the second-largest provider of those plans, which are government sponsored, privately-run programs. Membership in Humana's stand-alone Medicare prescription drug plans rose 41 percent.

THE RESULT: The rise in Medicare enrollments contributed to a strong performance in Humana's lucrative retail segment. Second-quarter pretax income in the segment surged 54 percent to $503.1 million.

QUARTERLY PROFIT: Net income was $460.3 million, or $2.71 per share, up 35 percent. Adjusted income was $2.50 per share, better than the $2.05 per share analysts were expecting.