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Health insurer Humana beats profit estimates, raises FY forecast

(Reuters) - U.S. health insurer Humana Inc (HUM.N) reported a much better-than-expected quarterly profit on Wednesday, due to strength in its Medicare Advantage business, which sells plans to the elderly and to people with disabilities.

The company, which also raised its full-year earnings forecast, said the individual Medicare Advantage results significantly outperformed its original expectations.

The individual Medicare Advantage business is exceeding its operational targets, experiencing lower-than-anticipated utilization, higher-than-expected revenue on a per member basis, the company said.

Humana said on Wednesday it expects 74 percent of members in its Medicare Advantage plans to be in its 4-Star plans or higher for bonus year...