Humana says 2027 Medicare Advantage Star Ratings beat its Top Quartile goal, flags one-time 2028 benefit

Humana said its Medicare Advantage quality scores came in better than it targeted, a result the insurer expects to deliver a one-time boost in 2028 that it plans to split between investments and returns to shareholders.

Based on final 2027 Medicare Advantage Star Ratings data the Centers for Medicare and Medicaid Services provided on Oct. 8, Humana said it "exceeded its goal of Top Quartile results," according to a regulatory filing early Friday. The ratings apply to bonus year 2028.

Humana defines Top Quartile as Stars revenue per member per month at least 10% above the median of a peer group that includes Centene, CVS, Elevance, HCSC and United.

The company said it will keep pricing its products and benefits as if performance roughly matched Top Quartile. It expects some of the 2028 outperformance above that level to be "one time in nature," and said the resulting benefit will be used for one-time investments and return to shareholders.

Humana did not put a dollar figure on the benefit. It said it will share the size and planned use once it has more 2028 information, including competitive dynamics, the rate and regulatory environment, and its expected contract and membership mix, before or when it gives detailed 2028 guidance on its fourth-quarter 2027 earnings call.

The insurer said it believes it is well positioned to deliver on the earnings commitment for 2028 laid out at its 2025 Investor Day. It also reiterated plans for a virtual investor update on Dec. 10, 2026, and posted supplementary audio commentary from President and CEO Jim Rechtin on its investor relations site.

By the numbers

• Oct. 8, 2026: CMS released final 2027 Star Ratings data
• 10%: Stars revenue PMPM above peer median that defines Humana's Top Quartile goal
• Bonus year 2028: when the ratings apply
• Dec. 10, 2026: virtual investor update

Sources

1. Humana Inc., Form 8-K (Item 7.01), filed Oct. 9, 2026, accession 0000049071-26-000057

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