$HUM · HUMANA INC
Humana filed an 8-K disclosing that its 2027 Medicare Advantage Star Ratings (Bonus Year 2028) exceeded its Top Quartile goal — defined as Stars revenue PMPM 10% above the peer group median. The company affirmed FY2026 adjusted EPS guidance of at least $9.00. A portion of the BY28 outperformance is expected to be one-time in nature and will be directed toward one-time investments and shareholder returns, with details to come before or during the Q4 2027 earnings call.
- 2027 MA Star Ratings exceeded Humana's Top Quartile goal, defined as Stars revenue PMPM 10% above the peer group median (Centene, CVS, Eleva
- The company expects a one-time benefit in Bonus Year 2028 from Stars outperformance, to be used for one-time investments and shareholder ret
- Humana affirms FY2026 adjusted EPS guidance of at least $9.00, consistent with prior guidance issued July 29, 2026 and reaffirmed September
- A virtual investor update is scheduled for December 10, 2026 to mark progress against the 2025 Investor Day framework targeting earnings p
- The company states it is 'well positioned to deliver on its commitment of unlocking the earnings potential of the business by 2028.'
Extended-hours trading shows HUM at $442.00, up +14.18% from the regular-session close of $387.12, indicating a strongly positive initial reaction to the Stars ratings beat and reaffirmed guidance. Markets were closed at filing; the regular session has not yet priced this news.
Medicare Advantage Star Ratings are the single largest driver of revenue quality for managed-care insurers; exceeding Top Quartile vs. peers directly boosts 2028 revenue and signals competitive gains.
Humana's Stars outperformance vs. peers (Centene, CVS, Elevance, HCSC, United) strengthens its competitive position in Medicare Advantage. The one-time BY28 benefit signals potential market-share gains and pricing flexibility heading into the 2028 plan year.
Actual 2028 Stars revenue PMPM will differ from current projections as it depends on actual 2028 membership, contract mix, risk scores, benchmarks, and rebates. The company is still completing its Q3 2026 financial close; GAAP EPS guidance may change due to ongoing value creation and strategic inicc
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