Humana Inc. reported a total revenue of $129.7 billion for the fiscal year ending December 31, 2025, marking a 10.1% increase from $117.8 billion in 2024. The company's net income attributable to shareholders was $1.2 billion, or $9.84 per diluted share, slightly down from $1.2 billion, or $9.98 per diluted share, in the previous year. The increase in revenue was primarily driven by a rise in premiums from Medicare Advantage and state-based contracts, which accounted for approximately 83% of total premiums and services revenue. The company experienced a 9.6% increase in premiums revenue, totaling $122.8 billion, largely due to higher per-member Medicare premiums and growth in state-based contracts.
In 2025, Humana's total medical membership decreased by 8.2% to approximately 15 million members, with a notable decline in individual Medicare Advantage members, which fell by 7.3% to 5.2 million. This decline was attributed to the company's strategic decision to exit unprofitable plans and counties. Conversely, membership in Medicare stand-alone prescription drug plans increased by 7.6%, reflecting shifting competitive dynamics. The company also reported a 10.7% increase in state-based contracts membership, driven by new contracts in Virginia and Kentucky.
Strategically, Humana finalized its exit from the Employer Group Commercial Medical Products business in 2025, a move aimed at reallocating resources to more sustainable segments. The company also initiated a multi-year transformation program to realign its cost structure and operating model, resulting in charges of $449 million in 2025. Additionally, Humana's CenterWell segment, which includes pharmacy solutions and primary care, saw a significant revenue increase of 39% to $4.8 billion, driven by growth in primary care and pharmacy services.
Looking ahead, Humana anticipates net membership growth in its individual Medicare Advantage offerings for 2026, projecting an increase of approximately 25,000 members. The company also expects to see continued growth in its Medicare stand-alone PDP offerings, estimating an increase of about 1 million members. Despite the challenges posed by regulatory changes and competitive pressures, Humana remains focused on enhancing its integrated care delivery model to improve health outcomes and member engagement.
About HUMANA INC
Humana Inc. is a healthcare company providing Medicare, Medicaid, and commercial insurance services through its insurance and CenterWell segments. It offers a range of products including Medicare Advantage, prescription drug plans, and specialty benefits, with a focus on integrated, value-based care, primary care, pharmacy, and home health solutions. Serving millions across the U.S., Humana emphasizes quality, cost-efficiency, and member engagement in its healthcare delivery model.
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