Sign in to comment!

Menu
Home

Industries

Humana says quarterly profit fell on health reform, drug costs

Health Care Bill Stethoscope

U.S. health insurer Humana Inc said on Wednesday that second-quarter profit fell due to investments in the insurance exchanges created under President Barack Obama's healthcare reform law as well as costly new hepatitis C drug treatments.

Humana said membership growth and share buybacks had helped offset some of the new costs.

The company said net income fell to $344 million, or $2.19 per share, from $420 million, or $2.63 a share, a year earlier. That was in line with analysts' estimates.