Medicare Advantage Drives Humana Profit Up

Medicare health insurer, Humana Inc. reported a 12.5 percent rise in its first-quarter profit. The growth in its Medicare Advantage and commercial businesses more than offset an expected decline in its stand-alone Medicare prescription drug plans.The results beat Wall Street expectations, and the company raised full-year earnings-per-share projections.

The Louisville-based company earned $80.17 million, or 47 cents per share, in the three months ended March 31 compared to $71.2 million, or 42 cents a share, in the year-ago period.Revenue rose 12 percent to $6.96 billion from $6.2 billion.

The Medicare Advantage plans offer comprehensive health coverage.