(Reuters) – Humana Inc said on Thursday it will exit the employer group insurance business in a phased manner over the next 18 to 24 months and focus primarily on government-funded programs and specialty businesses.
The company said it does not expect the move to impact its full-year 2023 forecast.
It now expects first-quarter earnings to represent about 33% of full-year 2023 adjusted earnings per share, compared with 35% estimated previously.
Humana also anticipated a roughly 30 basis points increase in its medical cost ratio, a percentage of its spends on claims to the premiums it collects, for the first quarter.
It however, expects, an impact on the medical cost ratio for the full year.
(Reporting by Sriparna Roy in Bengaluru; Editing by Savio D’Souza)
