Humana saw ‘some incremental positivity’ as claims further matured

Speaking at the Bank of America conference, executives from Humana stated in part: “We saw – And we always anticipate positive development into the next year just because of our reserving practices. When we speak about favorability, it means it was more positive than we had anticipated. So, as we said on our first call, we saw positive development primarily for third quarter. We mentioned that if we just let things run it would have suggested positive development for fourth quarter as well. Didn’t want that run through the first quarter because of the change. Now that those claims have further matured an additional month, we did see some incremental positivity again all quarters in 2023, but mostly in the fourth quarter.”