HUMANA INC

Humana Inc. (NYSE: HUM) operates as an integrated healthcare company committed to delivering health insurance and healthcare services to millions of members across the United States. The company maintains its website at www.humana.com and serves approximately 15 million members in medical benefit plans alongside approximately 4.7 million members in specialty products as of December 31, 2025.

The company operates through two primary reportable segments: Insurance and CenterWell. The Insurance segment, representing 96.3 percent of consolidated premiums and services revenue, encompasses Medicare Advantage plans, prescription drug plans, Medicaid managed care, specialty benefits, and military services through TRICARE contracts. Individual Medicare Advantage products constitute the largest revenue driver at 70.3 percent of Insurance segment premiums, while Group Medicare Advantage, stand-alone prescription drug plans, and state-based Medicaid contracts provide additional diversification. Notably, 83 percent of total premiums and services revenue derives from federal government contracts, with 14 percent specifically from individual Medicare Advantage contracts in Florida serving approximately one million members.

The CenterWell segment, contributing 3.7 percent of external services revenue, operates an integrated care delivery model encompassing pharmacy solutions, primary care clinics, and home health services. CenterWell operates 350 primary care clinics across fifteen states, employs approximately 1,300 primary care providers, and serves roughly 491,100 patients primarily through risk-sharing arrangements. The company also maintains a minority ownership interest in hospice operations and operates one of the nation's largest home health providers with locations spanning 37 states.

Humana employs approximately 67,000 associates and maintains a geographically diverse membership base across all 50 states. The company's integrated care delivery model emphasizes quality care, member engagement, and sophisticated data analytics to improve health outcomes while reducing costs. Provider arrangements include both employed physicians and contracted networks utilizing various payment models including capitation and value-based arrangements, with approximately 15.1 percent of medical membership covered under shared risk value-based contracts as of December 31, 2025. The company has maintained participation in the Medicare program for over 30 years and operates as an accelerated filer with the Securities and Exchange Commission.