I was on Humana Advantage and dropped it

My Insurance kept going up every year. But they are making money hand over fist with the Medicare Advantage programs because the Government subsidies it but you still have to pay your share that goes up every year.

Humana Second Quarter profit jumps 34% as premiums rise

Health insurer Humana Inc. said Monday its second-quarter profit rose 34 percent on the strength its robust government business, led by Medicare Advantage offerings, easily offsetting a sluggish commercial segment hamstrung by the recession.

The results for the three months ended June 30 beat Wall Street estimates. The Louisville, Ky.-based company stuck with its previous projection of a full-year profit between $6.10 and $6.20 per share, while analysts expect $6.12 per share.

Its shares rose 91 cents, or 2.8 percent, to close at $33.76.

Humana posted net income of $281.8 million, or $1.67 per share, for the quarter, compared with earnings of $209.9 million, or $1.24 per share, a year ago.

Revenue jumped 8 percent to just under $7.9 billion from $7.35 billion.

Analysts polled by Thomson Reuters expected profit of $1.64 per share on $7.77 billion in revenue.

"Our second quarter results confirm our 2009 financial performance is on track despite pressures from the overall economy," Humana President and CEO Michael B. McCallister said in a statement. "We're making progress reducing costs and investing in improved health outcomes for our members while we closely monitor events in Washington."

Humana's pretax income from its vast government segment surged by 62 percent to $404.7 million in the second quarter. The company attributed the upswing to lower claim expenses in its Medicare drug plans, a 13 percent increase in average Medicare Advantage membership and the introduction of member premiums for most of the company's Medicare Advantage products.

Medicare Advantage plans are government-sponsored, privately run programs for seniors that offer comprehensive health coverage.

The company said its Medicare Advantage membership grew to nearly 1.5 million members as of June 30, up 12 percent from a year ago and a 4 percent increase since the end of 2008. The year-over-year increase included 54,200 members added through acquisitions completed during the second half of 2008.

Medicare Advantage premiums of $4.15 billion rose 19 percent in the quarter versus a year ago.

Wait til these people that have Humana have to use this insurance. The next year their insurance rate will go up and they will be turned down on needed tests and procedures.