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SEGMENT INFORMATION (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Results
Our segment results were as follows for the three and nine months ended September 30, 2024 and 2023:
InsuranceCenterWellEliminations/
Corporate
Consolidated
Three months ended September 30, 2024(in millions)
External revenues
Premiums:
Individual Medicare Advantage$21,856 $— $— $21,856 
Group Medicare Advantage1,913 — — 1,913 
Medicare stand-alone PDP721 — — 721 
Total Medicare24,490 — — 24,490 
Commercial fully-insured85 — — 85 
Specialty benefits238 — — 238 
Medicare Supplement217 — — 217 
State-based contracts and other2,921 — — 2,921 
Total premiums27,951 — — 27,951 
Services revenue:
Home solutions— 326 — 326 
Primary care— 319 — 319 
Pharmacy solutions— 232 — 232 
Commercial ASO12 — — 12 
Military services and other214 — — 214 
Total services revenue226 877 — 1,103 
Total external revenues 28,177 877 — 29,054 
Intersegment revenues
Services1,463 (1,464)— 
Products— 2,701 (2,701)— 
Total intersegment revenues4,164 (4,165)— 
Investment income192 — 151 343 
Total revenues28,370 5,041 (4,014)29,397 
Operating expenses:
Benefits25,319 — (199)25,120 
Operating costs2,595 4,602 (3,858)3,339 
Depreciation and amortization182 57 (29)210 
Total operating expenses28,096 4,659 (4,086)28,669 
Income from operations274 382 72 728 
Interest expense— 167 169 
Other income, net— — (92)(92)
Income (loss) before income taxes and equity in net earnings 274 380 (3)651 
Equity in net losses(1)(15)— (16)
Segment earnings (loss)$273 $365 $(3)$635 
Net loss attributable to noncontrolling interests— — — — 
Segment earnings (loss) attributable to Humana$273 $365 $(3)$635 
InsuranceCenterWellEliminations/
Corporate
Consolidated
Three months ended September 30, 2023(in millions)
External revenues
Premiums:
Individual Medicare Advantage$19,637 $— $— $19,637 
Group Medicare Advantage1,695 — — 1,695 
Medicare stand-alone PDP493 — — 493 
Total Medicare21,825 — — 21,825 
Commercial fully-insured842 — — 842 
Specialty benefits252 — — 252 
Medicare Supplement185 — — 185 
State-based contracts and other1,995 — — 1,995 
Total premiums25,099 — — 25,099 
Services revenue:
Home solutions— 342 — 342 
Primary care— 214 — 214 
Pharmacy solutions— 203 — 203 
Commercial ASO55 — — 55 
Military services and other202 — — 202 
Total services revenue257 759 — 1,016 
Total external revenues 25,356 759 — 26,115 
Intersegment revenues
Services1,307 (1,308)— 
Products— 2,594 (2,594)— 
Total intersegment revenues3,901 (3,902)— 
Investment income 154 — 154 308 
Total revenues25,511 4,660 (3,748)26,423 
Operating expenses:
Benefits21,976 — (231)21,745 
Operating costs2,634 4,207 (3,570)3,271 
Depreciation and amortization179 53 (31)201 
Total operating expenses24,789 4,260 (3,832)25,217 
Income from operations722 400 84 1,206 
Interest expense— 113 114 
Other income, net— — (6)(6)
Income (loss) before income taxes and equity in net earnings 722 399 (23)1,098 
Equity in net losses— (12)— (12)
Segment earnings (loss)$722 $387 $(23)$1,086 
Net loss (income) attributable to noncontrolling interests(1)— 
Segment earnings (loss) attributable to Humana$725 $386 $(23)$1,088 
InsuranceCenterWellEliminations/
Corporate
Consolidated
Nine months ended September 30, 2024(in millions)
External revenues
Premiums:
Individual Medicare Advantage$66,519 $— $— $66,519 
Group Medicare Advantage5,840 — — 5,840 
Medicare stand-alone PDP2,409 — — 2,409 
Total Medicare74,768 — — 74,768 
Commercial fully-insured493 — — 493 
Specialty benefits717 — — 717 
Medicare Supplement620 — — 620 
State-based contracts and other7,756 — — 7,756 
Total premiums84,354 — — 84,354 
Services revenue:
Home solutions— 996 — 996 
Primary care— 882 — 882 
Pharmacy solutions— 672 — 672 
Commercial ASO44 — — 44 
Military services and other671 — — 671 
Total services revenue715 2,550 — 3,265 
Total external revenues 85,069 2,550 — 87,619 
Intersegment revenues
Services4,293 (4,296)— 
Products— 7,963 (7,963)— 
Total intersegment revenues12,256 (12,259)— 
Investment income522 — 407 929 
Total revenues85,594 14,806 (11,852)88,548 
Operating expenses:
Benefits75,752 — (469)75,283 
Operating costs7,354 13,638 (11,463)9,529 
Depreciation and amortization553 166 (88)631 
Total operating expenses83,659 13,804 (12,020)85,443 
Income from operations1,935 1,002 168 3,105 
Interest expense— 492 496 
Other expense, net— — 26 26 
Income (loss) before income taxes and equity in net losses 1,935 998 (350)2,583 
Equity in net losses(2)(55)— (57)
Segment earnings (loss)$1,933 $943 $(350)$2,526 
Net loss attributable to noncontrolling interests— — 
Segment earnings (loss) attributable to Humana$1,936 $943 $(350)$2,529 
InsuranceCenterWellEliminations/
Corporate
Consolidated
Nine Months Ended September 30, 2023(in millions)
External Revenues
Premiums:
Individual Medicare Advantage$59,195 $— $— $59,195 
Group Medicare Advantage5,192 — — 5,192 
Medicare stand-alone PDP1,677 — — 1,677 
Total Medicare66,064 — — 66,064 
Commercial fully-insured2,810 — — 2,810 
Specialty benefits758 — — 758 
Medicare Supplement546 — — 546 
State-based contracts and other5,966 — — 5,966 
Total premiums76,144 — — 76,144 
Services revenue:
Home solutions— 997 — 997 
Primary care— 605 — 605 
Pharmacy solutions— 661 — 661 
Commercial ASO190 — — 190 
Military services and other540 — — 540 
Total services revenue730 2,263 — 2,993 
Total external revenues 76,874 2,263 — 79,137 
Intersegment revenues
Services30 3,584 (3,614)— 
Products— 7,848 (7,848)— 
Total intersegment revenues30 11,432 (11,462)— 
Investment income385 — 390 775 
Total revenues77,289 13,695 (11,072)79,912 
Operating expenses:
Benefits66,096 — (484)65,612 
Operating costs7,597 12,526 (10,762)9,361 
Depreciation and amortization516 152 (90)578 
Total operating expenses74,209 12,678 (11,336)75,551 
Income from operations3,080 1,017 264 4,361 
Interest expense— 345 347 
Other expense, net— — 40 40 
Income (loss) before income taxes and equity in net losses3,080 1,015 (121)3,974 
Equity in net losses(2)(37)— (39)
Segment earnings (loss)$3,078 $978 $(121)$3,935 
Net loss (income) attributable to noncontrolling interests(1)— 
Segment earnings (loss) attributable to Humana$3,085 $977 $(121)$3,941