Humana says Obamacare exchange member costs lower than predicted
NEW YORK, Aug 2 (Reuters) - Humana Inc individual insurance customers who purchased their plans through the Obamacare program are having lower costs than expected so far this year, contributing to expectations for the individual business to swing to a profit this year, the company said on Wednesday.
Chief Financial Officer Brian Kane said that the swing to a profit is also based on having to pay out fewer claims than it expected and planned for in previous financial periods, which resulted in an accounting adjustment.
President Barack Obama's signature healthcare law, the Affordable Care Act, is often called Obamacare. (Reporting by Caroline Humer; Editing by Bernadette Baum)
