More seniors than expected signing up for Humana’s plans in 2026 was a major concern for investors. But Humana is in a much better position to absorb future growing pains, executives said.

Humana is gearing up for another year of membership growth in Medicare Advantage, after seeing strong early results in the ongoing open enrollment season for 2027.

So far, sign-ups have been more robust than Humana predicted, CEO Jim Rechtin told investors on a Friday morning call to discuss the insurer’s third quarter. Humana’s recapture of members affected by plan exits is “particularly strong,” but the insurer is also bringing on more new members than planned, Rechtin said.

The CEO said it was too early to project the size of MA membership growth. But any growth at all is a departure from the previous expectation that Humana’s membership would stay flat or decrease in 2027, after the insurer slashed its plans on offer. About 600,000 seniors — 8% of its 7.2 million MA members — were affected.

MA is Humana’s bread and butter, accounting for 40% of the insurer’s membership but 80% of its premiums. As such, the Kentucky-based insurer has outsized exposure to pressures in the privatized Medicare program — and there have been a lot of them over the past few years, as seniors utilized more expensive care coming out of the coronavirus pandemic.

In response to shrinking margins, MA carriers culled plans and cut benefits coming into 2026, leading most to shed members this year.

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