(Reuters) - Health insurer Humana Inc said on Thursday that it projected its enrollment mix in private plans through the exchanges created by President Barack Obama’s healthcare law will be, “more adverse than previously expected.”
Humana attributed the enrollment trend to regulatory changes allowing people to remain in previously existing plans not sold on the exchanges. Obama proposed allowing insurers to keep selling plans that did not comply with the Affordable Care Act after political fallout that he was not keeping his promise that people can keep insurance plans if they like them.
Humana released its projections in a U.S. securities filing ahead of meetings next week with investors and analysts. Despite the negative projections about the exchange enrollment, Humana backed its 2014 earnings forecast of $7.25 to $7.75 per share.
The company, one of the largest providers of Medicare plans for the elderly, expected higher membership gains in its Medicare Advantage and Medicare prescription drug plans in 2014, following the enrollment period for Medicare.
Reporting by Lewis Krauskopf. Editing by Andre Grenon