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v3.23.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Results | Our segment results were as follows for the three months ended March 31, 2023 and 2022:
| Insurance |  | CenterWell |  |  |  |  |  | Eliminations/ Corporate |  | Consolidated
Three months ended March 31, 2023 | (in millions)
External revenues |  |  |  |  |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |  |  |  |  |
Individual Medicare Advantage | $ | 19,809 |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | 19,809 |
Group Medicare Advantage | 1,765 |  |  | — |  |  |  |  |  |  | — |  |  | 1,765 |
Medicare stand-alone PDP | 616 |  |  | — |  |  |  |  |  |  | — |  |  | 616 |
Total Medicare | 22,190 |  |  | — |  |  |  |  |  |  | — |  |  | 22,190 |
Commercial fully-insured | 1,018 |  |  | — |  |  |  |  |  |  | — |  |  | 1,018 |
Specialty benefits | 254 |  |  | — |  |  |  |  |  |  | — |  |  | 254 |
Medicare Supplement | 179 |  |  | — |  |  |  |  |  |  | — |  |  | 179 |
Medicaid and other | 1,909 |  |  | — |  |  |  |  |  |  | — |  |  | 1,909 |
Total premiums | 25,550 |  |  | — |  |  |  |  |  |  | — |  |  | 25,550 |
Services revenue: |  |  |  |  |  |  |  |  |  |  |
Home solutions | — |  |  | 314 |  |  |  |  |  |  | — |  |  | 314 |
Provider services | — |  |  | 201 |  |  |  |  |  |  | — |  |  | 201 |
Commercial ASO | 71 |  |  | — |  |  |  |  |  |  | — |  |  | 71 |
Military and other | 171 |  |  | — |  |  |  |  |  |  | — |  |  | 171 |
Pharmacy solutions | — |  |  | 242 |  |  |  |  |  |  | — |  |  | 242 |
Total services revenue | 242 |  |  | 757 |  |  |  |  |  |  | — |  |  | 999 |
Total external revenues | 25,792 |  |  | 757 |  |  |  |  |  |  | — |  |  | 26,549 |
Intersegment revenues |  |  |  |  |  |  |  |  |  |  |
Services | 14 |  |  | 1,133 |  |  |  |  |  |  | (1,147) |  |  | — |
Products | — |  |  | 2,615 |  |  |  |  |  |  | (2,615) |  |  | — |
Total intersegment revenues | 14 |  |  | 3,748 |  |  |  |  |  |  | (3,762) |  |  | — |
Investment income | 97 |  |  | — |  |  |  |  |  |  | 96 |  |  | 193 |
Total revenues | 25,903 |  |  | 4,505 |  |  |  |  |  |  | (3,666) |  |  | 26,742 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |
Benefits | 21,993 |  |  | — |  |  |  |  |  |  | (135) |  |  | 21,858 |
Operating costs | 2,418 |  |  | 4,126 |  |  |  |  |  |  | (3,565) |  |  | 2,979 |
Depreciation and amortization | 165 |  |  | 49 |  |  |  |  |  |  | (28) |  |  | 186 |
Total operating expenses | 24,576 |  |  | 4,175 |  |  |  |  |  |  | (3,728) |  |  | 25,023 |
Income from operations | 1,327 |  |  | 330 |  |  |  |  |  |  | 62 |  |  | 1,719 |
Interest expense | — |  |  | — |  |  |  |  |  |  | 113 |  |  | 113 |
Other income, net | — |  |  | — |  |  |  |  |  |  | (8) |  |  | (8) |
Income (loss) before income taxes and equity in net losses | 1,327 |  |  | 330 |  |  |  |  |  |  | (43) |  |  | 1,614 |
Equity in net losses | (3) |  |  | (14) |  |  |  |  |  |  | — |  |  | (17) |
Segment earnings (loss) | $ | 1,324 |  |  | $ | 316 |  |  |  |  |  |  | $ | (43) |  |  | $ | 1,597 |
Net loss attributable to noncontrolling interests | 1 |  |  | — |  |  |  |  |  |  | — |  |  | 1 |
Segment earnings (loss) attributable to Humana | $ | 1,325 |  |  | $ | 316 |  |  |  |  |  |  | $ | (43) |  |  | $ | 1,598 |
| Insurance |  | CenterWell |  | Eliminations/ Corporate |  | Consolidated
Three months ended March 31, 2022 | (in millions)
External Revenues |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |
Individual Medicare Advantage | $ | 17,052 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,052 |
Group Medicare Advantage | 1,875 |  |  | — |  |  | — |  |  | 1,875 |
Medicare stand-alone PDP | 639 |  |  | — |  |  | — |  |  | 639 |
Total Medicare | 19,566 |  |  | — |  |  | — |  |  | 19,566 |
Commercial fully-insured | 1,140 |  |  | — |  |  | — |  |  | 1,140 |
Specialty benefits | 261 |  |  | — |  |  | — |  |  | 261 |
Medicare Supplement | 182 |  |  | — |  |  | — |  |  | 182 |
Medicaid and other | 1,554 |  |  | — |  |  | — |  |  | 1,554 |
Total premiums | 22,703 |  |  | — |  |  | — |  |  | 22,703 |
Services revenue: |  |  |  |  |  |  |
Home solutions | — |  |  | 726 |  |  | — |  |  | 726 |
Provider services | — |  |  | 113 |  |  | — |  |  | 113 |
Commercial ASO | 77 |  |  | — |  |  | — |  |  | 77 |
Military and other | 127 |  |  | — |  |  | — |  |  | 127 |
Pharmacy solutions | — |  |  | 221 |  |  | — |  |  | 221 |
Total services revenue | 204 |  |  | 1,060 |  |  | — |  |  | 1,264 |
Total external revenues | 22,907 |  |  | 1,060 |  |  | — |  |  | 23,967 |
Intersegment revenues |  |  |  |  |  |  |
Services | 14 |  |  | 857 |  |  | (871) |  |  | — |
Products | — |  |  | 2,446 |  |  | (2,446) |  |  | — |
Total intersegment revenues | 14 |  |  | 3,303 |  |  | (3,317) |  |  | — |
Investment income (loss) | 46 |  |  | 2 |  |  | (45) |  |  | 3 |
Total revenues | 22,967 |  |  | 4,365 |  |  | (3,362) |  |  | 23,970 |
Operating expenses: |  |  |  |  |  |  |
Benefits | 19,734 |  |  | — |  |  | (109) |  |  | 19,625 |
Operating costs | 2,087 |  |  | 3,948 |  |  | (3,149) |  |  | 2,886 |
Depreciation and amortization | 150 |  |  | 47 |  |  | (27) |  |  | 170 |
Total operating expenses | 21,971 |  |  | 3,995 |  |  | (3,285) |  |  | 22,681 |
Income (loss) from operations | 996 |  |  | 370 |  |  | (77) |  |  | 1,289 |
Interest expense | — |  |  | — |  |  | 90 |  |  | 90 |
Other income, net | — |  |  | — |  |  | (21) |  |  | (21) |
Income (loss) before income taxes and equity in net losses | 996 |  |  | 370 |  |  | (146) |  |  | 1,220 |
Equity in net losses | — |  |  | (4) |  |  | — |  |  | (4) |
Segment earnings (loss) | $ | 996 |  |  | $ | 366 |  |  | $ | (146) |  |  | $ | 1,216 |
Net loss (income) attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | — |
Segment earnings (loss) attributable to Humana | $ | 996 |  |  | $ | 366 |  |  | $ | (146) |  |  | $ | 1,216 |

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