The Louisville-based insurer announced that its annual stockholder meeting will be held via webcast due to the coronavirus outbreak.
The Louisville-based insurer based its decision to change the location of its annual stockholder meeting on April 23 to a live webcast due to the ongoing coronavirus disease 2019 (COVID-19) outbreak.
Additionally, in a press release detailing the company's debt offering, Humana stated that it would not "address or update" its forward-looking statement regarding its business results.
This decision was based on a series of factors that could threaten Humana's business operations, most notably the spread of COVID-19.
Humana cited concerns that premiums charged may be "insufficient" to cover the cost of services delivered due to "higher utilization rates, pharmaceutical costs, and expanded benefit coverage," full or partial closure of Humana facilities, cybersecurity risks due to the increased amount of employees working from home, and the recent global market volatility.
"The rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact to Humana of COVID-19," the company stated in its press release.
In its most recent earnings report, Humana reported $16.2 billion in revenues for Q4 2019 and saw earnings per share increase from $2.58 to $3.84.
Earlier this month, Humana also announced that it would participate in DirectAssure, a provider directory improvement effort led by CAQH.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.