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Humana profits fall; company announces acquisition

Monday, 5 Nov 2012 | 11:19 AM ET

Nov 5 (Reuters) - U.S. health insurer Humana Inc, which has struggled with the costs associated with a rise in membership in its Medicare Advantage program for older people, reported a lower quarterly profit, but said its results were better than it had planned.

The company also said on Monday that it would buy Metropolitan Health Networks, an organization that largely serves Medicare and Medicaid members.

Humana said that prescription drug plan results and favorable medical claim reserves had helped during the third quarter and were also behind a decision to raise its 2012 outlook, which it had cut last quarter.

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