Summary Box: Humana reports 3rd-qtr results

Humana reports lower 4Q net income; names new CEO; announces deal to expand Florida business

Associated Press

THE RESULTS: Humana Inc.'s third-quarter net income fell 4 percent as more of its premium dollars went to pay medical claims. The health insurer was more upbeat, though, raising its earnings forecast for the full year.

MEDICARE ADVANTAGE: Humana's membership in its individual Medicare Advantage plans surpassed 1.9 million as of Sept. 30, up 18 percent from a year ago. Those plans offer privately run, government-subsidized comprehensive health insurance for seniors. It announced Monday that it has a deal to acquire Metropolitan Health Networks Inc., which coordinates medical care for Medicare Advantage and Medicaid recipients, primarily in Florida.

NEW LEADERSHIP: The company announced that its president, Bruce D. Broussard, will take over as chief executive officer effective Jan. 1. Michael B. McCallister, who guided the company's growth, will step down after 12 years as Humana's CEO. He will become non-executive board chairman.

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