<SEC-DOCUMENT>0000049071-17-000050.txt : 20170301
<SEC-HEADER>0000049071-17-000050.hdr.sgml : 20170301
<ACCEPTANCE-DATETIME>20170301085350
ACCESSION NUMBER:		0000049071-17-000050
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170301
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20170301
DATE AS OF CHANGE:		20170301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HUMANA INC
		CENTRAL INDEX KEY:			0000049071
		STANDARD INDUSTRIAL CLASSIFICATION:	HOSPITAL & MEDICAL SERVICE PLANS [6324]
		IRS NUMBER:				610647538
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05975
		FILM NUMBER:		17651556

	BUSINESS ADDRESS:	
		STREET 1:		500 W MAIN ST
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40202
		BUSINESS PHONE:		5025801000

	MAIL ADDRESS:	
		STREET 1:		500 W. MAIN ST
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EXTENDICARE INC
		DATE OF NAME CHANGE:	19740404

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HERITAGE HOUSE OF AMERICA INC
		DATE OF NAME CHANGE:	19671129
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>hum8-k03012017.htm
<DESCRIPTION>HUMANA INC. FORM 8-K 03-01-2017
<TEXT>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">Item 7.01&#160;&#160;&#160;&#160;&#160;&#160;Regulation FD Disclosure</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Members of Humana Inc.&#8217;s senior management team are scheduled to meet with investors at various times between March 1, 2017 and March 31, 2017.&#160;&#160;During such meetings, Humana&#8217;s management expects to reaffirm its guidance range of $16.65 to $16.85 in diluted earnings per common share (&#8220;EPS&#8221;), and $10.80 to $11.00 in adjusted EPS, in each case for the year ending December 31, 2017.&#160;&#160;This guidance is consistent with the guidance issued in Humana&#8217;s press release dated February 14, 2017.&#160;&#160;The date and time of presentations to investors are available via the Investor Relations calendar of events on Humana&#8217;s web site at www.humana.com.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company has included adjusted EPS in this current report, a financial measure that is not in accordance with GAAP.&#160;&#160;Management believes that this measure, when presented in conjunction with the comparable measure of GAAP EPS, is useful to both management and its investors in analyzing the Company&#8217;s ongoing business and operating performance.&#160;&#160;Consequently, management uses adjusted EPS as an indicator of the Company&#8217;s business performance, as well as for operational planning and decision making purposes.&#160;&#160;Adjusted EPS should be considered in addition to, but not as a substitute for, or superior to, GAAP EPS.&#160;&#160;A reconciliation of adjusted EPS to GAAP EPS follows:</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Diluted earnings per common share</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">GAAP</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">$16.65 to $16.85</font></div>
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<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -27pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Net (gain) expenses associated with the now-terminated merger transaction (primarily the break-up fee)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">(~4.32)</font></div>
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<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -27pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Amortization of identifiable intangibles</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">~0.31</font></div>
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<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -27pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Beneficial effect of lower effective tax rate in light of pricing and benefit design assumptions associated with the 2017 temporary suspension of the non-deductible health insurance industry fee; excludes Individual Commercial business impact</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">(~2.14)</font></div>
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<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -27pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Estimated guaranty fund assessment expense to support the policyholder obligations of Penn Treaty (an unaffiliated long-term care insurance company)</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">~0.13</font></div>
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<div style="MARGIN-LEFT: 27pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -27pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Operating losses associated with the Individual Commercial business given the company&#8217;s planned exit on January 1, 2018</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">~0.17</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Adjusted (non-GAAP) &#8211; FY17 projected</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">$10.80 - $11.00</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">BY:<font style="DISPLAY: inline"> &#160;&#160;&#160;&#160;<font style="TEXT-DECORATION: underline">/s/&#160;&#160; Cynthia H. Zipperle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Vice President, Chief Accounting Officer&#160;and Controller</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Dated:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;March 1, 2017</font><br>
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