Humana Cuts 2019 Forecast for Medicare Prescription Drug Plans

December 5, 2018

Humana, Medicare Advantage

Health insurer Humana Inc (HUM.N) said on Wednesday that enrollment for its 2019 Medicare prescription drug plans dropped as customers opted for lower priced options from rivals.

However, the company said it expected to add between 350,000 and 400,000 members to its Medicare Advantage health plans in 2019. It had previously expected additions of between 250,000 and 300,000 members.

“The announcement is a net positive with stronger Medicare Advantage growth more important than the continued large (prescription drug) declines,” Evercore ISI analyst Michael Newshel wrote in a note to clients.

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Original Article on Reuters