Humana to lose some Medicare enrollees

Wall Street Journal (subscription required), September 10, 2008

Humana Inc. has announced it expects to lose nearly 10% of its Medicare drug-plan enrollees at the start of next year because it bid premiums too high to win an allotment of low-income, government-assigned members. Humana shares fell nearly 5% to $41.75 in after-hours trading after it announced it would lose all of its 308,000 "dual-eligible" Medicare members. Such members are a source of instant market share for many of the companies that sell and administer the benefit.