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Humana is riding a wave of momentum heading into 2027. The insurer beat Wall Street estimates in Q3 2026, reporting $162M in profit and $41.2B in revenue, while its CEO confirmed early Medicare enrollment numbers are "ahead of plan." The company also hit its highest-ever star ratings and boosted its full-year earnings guidance to $9.50 per share.
Humana is having a strong finish to 2026. The insurer topped analyst expectations in Q3, posting $162 million in profit and $41.2 billion in revenue — a significant revenue jump from $32.6 billion in Q3 2025. Through the first three quarters, Humana has pulled in $121.7 billion in revenue, up sharply from $97.1 billion in the same period last year. On the back of these results, the company raised its full-year earnings guidance to $9.50 per share and expects at least $160 billion in revenue for 2026.
Medicare enrollment is the engine driving growth. CEO Jim Rechtin told investors that early Annual Enrollment Period (AEP) signups are ahead of expectations, with membership projected to grow again in 2027. The surge in 2026 Medicare enrollment did push the medical loss ratio (MLR) higher — to 93.9% in Q3, up from 91.1% a year ago — as newer members tend to have more complex health needs. Still, Humana's best-ever star ratings performance is expected to deliver a one-time financial tailwind in 2028.
By the Numbers:
Why it matters: Humana's Medicare trajectory offers a real-time window into how large insurers are navigating enrollment volatility, rising medical costs, and star ratings pressures — dynamics that shape coverage access and care quality for millions of seniors.
