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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our two reportable segments, Insurance and CenterWell, are based on a combination of the type of health plan customer and adjacent businesses centered on well-being solutions for our health plans and other customers, as described below. Our Chief Executive Officer, the Chief Operating Decision Maker, utilizes these segment groupings and results of each segment, measured by income (loss) from operations, to assess performance and allocate resources primarily during our annual budget process and periodic forecast updates.
The Insurance segment consists of Medicare benefits, marketed to individuals or directly via group Medicare accounts, as well as our contract with CMS to administer the Limited Income Newly Eligible Transition, or LI-NET, prescription drug plan program and contracts with various states to provide Medicaid, dual eligible demonstration, and Long-Term Support Services benefits, which we refer to collectively as our state-based contracts. This segment also includes products consisting of employer group commercial fully-insured medical and specialty health insurance benefits marketed to individuals and employer groups, including dental, vision, and other supplemental health benefits, as well as administrative services only, or ASO. In addition, our Insurance segment includes our Military services business, primarily our T-2017 East Region contract, as well as the operations of our PBM business.
In February 2023, we announced our planned exit from the Employer Group Commercial Medical Products business, which includes all fully insured, self-funded and Federal Employee Health Benefit medical plans, as well as associated wellness and rewards programs. No other Humana health plan offerings are materially affected. Following a strategic review, we determined the Employer Group Commercial Medical Products business was no longer positioned to sustainably meet the needs of commercial members over the long term or support our long-term strategic plans. We anticipate the exit of this line of business to be finalized in the first half of 2025.
The CenterWell segment includes our pharmacy, primary care, and home solutions operations. The segment also includes our strategic partnerships with WCAS to develop and operate senior-focused, payor-agnostic, primary care centers, as well as our minority ownership interest in hospice operations. Services offered by this segment are designed to enhance the overall healthcare experience. These services may lead to lower utilization associated with improved member health and/or lower drug costs.
Our CenterWell intersegment revenues includes the operations of CenterWell Pharmacy (our mail-order pharmacy business), CenterWell Specialty Pharmacy, and retail pharmacies jointly located within CenterWell Senior Primary Care clinics. In addition, our CenterWell intersegment revenues include revenues earned by certain owned providers and our home solutions business, including fee-for-service and certain value-based arrangements with our health plans.
We present our consolidated results of operations from the perspective of the health plans. As a result, the cost of providing benefits to our members, whether provided via a third-party provider or internally through a stand-alone subsidiary, is classified as benefits expense and excludes the portion of the cost for which the health plans do not bear responsibility, including member co-share amounts and government subsidies of $20.3 billion in 2024, $20.7 billion in 2023, and $19.7 billion in 2022. In addition, depreciation and amortization expense associated with certain businesses delivering benefits to our members, primarily associated with our primary care and pharmacy operations, are included with benefits expense. The amount of this expense was $129 million in 2024, $138 million in 2023, and $122 million in 2022.
Other than those described previously, the accounting policies of each segment are the same and are described in Note 2. Transactions between reportable segments primarily consist of sales of products and services rendered by our CenterWell segment, primarily pharmacy, primary care, and home solutions, to our Insurance segment customers. Intersegment sales and expenses are recorded primarily at fair value and eliminated in consolidation. Members served by our segments often use the same provider networks, enabling us in some instances to obtain more favorable contract terms with providers. Our segments also share indirect costs and assets. As a result, the profitability of each segment is interdependent. We allocate most operating expenses to our segments. Assets and certain corporate income and expenses are not allocated to the segments, including the portion of investment income not supporting segment operations, interest expense on corporate debt, and certain other corporate expenses. These items are managed at a corporate level. These corporate amounts are reported separately from our reportable segments and are included with intersegment eliminations in the tables presenting segment results below.
Premium and services revenues derived from our contracts with the federal government, as a percentage of our total premium and services revenues, were approximately 85% for 2024, 84% for 2023 and 82% for 2022.
InsuranceCenterWellEliminations/
Corporate		Consolidated
 (in millions)
2024
External revenues
Premiums revenue$112,104 $— $— $112,104 
Services revenue966 3,465 — 4,431 
Total external revenues113,070 3,465 — 116,535 
Intersegment revenues4 16,471 (16,475)— 
Investment income690 — 536 1,226 
Total revenues113,764 19,936 (15,939)117,761 
Operating expenses:
Benefits101,299 — (635)100,664 
Operating costs10,443 18,383 (15,130)13,696 
Depreciation and amortization733 224 (118)839 
Total operating expenses112,475 18,607 (15,883)115,199 
Income (loss) from operations$1,289 $1,329 $(56)$2,562 
InsuranceCenterWellEliminations/
Corporate		Consolidated
 (in millions)
2023
External revenues
Premiums revenue$101,272 $— $— $101,272 
Services revenue1,000 3,033 — 4,033 
Total external revenues102,272 3,033 — 105,305 
Intersegment revenues31 15,372 (15,403)— 
Investment income551 — 518 1,069 
Total revenues102,854 18,405 (14,885)106,374 
Operating expenses:
Benefits89,100 — (706)88,394 
Operating costs10,408 16,791 (14,011)13,188 
Depreciation and amortization692 210 (123)779 
Total operating expenses100,200 17,001 (14,840)102,361 
Income (loss) from operations$2,654 $1,404 $(45)$4,013 
InsuranceCenterWellEliminations/
Corporate		Consolidated
 (in millions)
2022
External revenues
Premiums revenue$87,712 $— $— $87,712 
Services revenue850 3,926 — 4,776 
Total external revenues88,562 3,926 — 92,488 
Intersegment revenues56 13,373 (13,429)— 
Investment income223 8 151 382 
Total revenues88,841 17,307 (13,278)92,870 
Operating expenses:
Benefits75,934 — (244)75,690 
Operating costs9,251 15,835 (12,415)12,671 
Depreciation and amortization634 181 (106)709 
Total operating expenses85,819 16,016 (12,765)89,070 
Income (loss) from operations$3,022 $1,291 $(513)$3,800