Current Report Filing (8-k)
September 07 2021 - 4:31PM
Edgar (US Regulatory)
false000004907100000490712021-09-072021-09-07
500 W. Main Street,
Louisville, Kentucky 40202
(Address of Principal Executive Offices, and Zip Code)
(502) 580-1000
Registrant’s Telephone Number, Including Area Code
(Former Name or Former Address, if
Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the
Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
Members of Humana Inc.’s (the “Company”) senior management team are scheduled to meet with investors and analysts
between September 7, 2021 and September 30, 2021. During the meetings, the Company intends to maintain its guidance range of $24.97 to $25.47 in diluted earnings per
common share (“EPS”) or $21.25 to $21.75 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2021 (“FY 2021”). This guidance is consistent with the guidance issued in Humana’s press release dated
July 28, 2021, and is given while continuing to acknowledge the heightened uncertainty surrounding the ongoing pandemic as it relates to COVID hospitalization trends and the rate at which non-COVID utilization normalizes.
Medicare Advantage (MA) Utilization Update:
In recent weeks, the Company has experienced increased COVID hospitalizations in connection with the current surge in COVID
cases in the U.S., and related declines in non-COVID inpatient utilization. While the Company has limited visibility into reductions in non-inpatient utilization driven by the recent increase in COVID cases due to the lag in related claims data,
the Company has seen non-inpatient utilization decline in response to previous COVID surges and is currently anticipating that it will experience a comparable decline with the most recent COVID increase.
The Company’s FY 2021 Adjusted EPS guidance currently assumes that these expected reductions in non-COVID utilization
will follow similar trends seen during previous surges of the pandemic, and result in overall third and fourth quarter non-COVID utilization running lower than the previously disclosed 2.5 percent below baseline expectation, offsetting incremental
COVID testing and treatment costs.
The Company is scheduled to present at the 19th Annual Morgan Stanley Global Healthcare Conference on
September 15, 2021 at 8:45 a.m. Eastern Daylight Time (EDT) and will discuss utilization trends and related assumptions in further detail at that time. The date and time of presentations to investors are also available via the Investor Relations
calendar of events on the Company’s website at www.humana.com.
The Company has included Adjusted EPS in this current report, a financial measure that is not in accordance with
Generally Accepted Accounting Principles (“GAAP”). 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’s ongoing
business and operating performance. Consequently, management uses Adjusted EPS as an indicator of the Company’s business performance, as well as for operational planning and decision making purposes. Adjusted EPS should be considered in addition
to, but not as a substitute for, or superior to, GAAP EPS. A reconciliation of GAAP EPS to Adjusted EPS follows:
SIGNATURES
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.
Dated: September 7, 2021
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