Item 7.01 Regulation FD Disclosure.



Members of Humana Inc.'s (the "Company") senior management team are scheduled to
meet with investors and analysts at industry conferences and various other
meetings between January 6, 2022 and January 11, 2022. During the conferences
and meetings, the Company intends to address its prospects and performance. The
Company will not opine on any financial results or expectations for 2021 or 2022
at the meetings beyond those listed below since it is in the process of closing
its books for the year ended December 31, 2021. The date and time of
presentations to investors are available via the Investor Relations calendar of
events on Humana's website at humana.com.

Full Year 2021 Adjusted EPS Guidance



During the meetings, the Company intends to reaffirm its guidance of
approximately $23.67 in diluted earnings per common share ("EPS"), or
approximately $20.50 in adjusted earnings per common share ("Adjusted EPS"), in
each case for the year ending December 31, 2021 ("FY 2021"). This guidance is
consistent with the guidance issued in Humana's press release dated November 3,
2021 and reaffirmed on December 1, 2021.

The Company has included Adjusted EPS in this current report, a financial
measure that is not in accordance with Generally Accepted Accounting Principles
("GAAP"). Management believes that this measure, when presented in conjunction
with the comparable measure of GAAP EPS, is useful to both management and its
investors in analyzing the Company's ongoing business and operating performance.
Consequently, management uses Adjusted EPS as an indicator of the Company's
business performance, as well as for operational planning and decision making
purposes. Adjusted EPS should be considered in addition to, but not as a
substitute for, or superior to, GAAP EPS. A reconciliation of GAAP EPS to
Adjusted EPS follows:
                    Diluted earnings per common share                             FY 2021 Guidance
GAAP                                                                                              ~$23.67
Amortization of identifiable intangibles                                                             0.39
Gain on Kindred at Home equity method investment                                                   (8.73)

Put/call valuation adjustments associated with company's non-consolidating 

                          3.38
minority interest investments
Transaction and integration costs associated with the Kindred at Home                                0.61

acquisition


Change in fair market value of publicly-traded equity securities                                     1.18
Adjusted (non-GAAP) - FY 2021 projected                                                           ~$20.50

Full-Year 2022 Enrollment Projections



Based on annual election period ("AEP") growth of approximately 130,000 members,
the Company is decreasing its net membership growth estimate for its individual
Medicare Advantage products for the year ended December 31, 2022 to a range of
150,000 to 200,000 members from the previous range of 325,000 to 375,000
members. The revised estimate is primarily attributable to higher than
anticipated terminations during the AEP, combined with the expectation of higher
than originally projected terminations for the remainder of 2022.

In addition, the Company continues to expect group Medicare Advantage membership
to be generally flat for 2022, as it does not anticipate any large accounts will
be gained or lost as it continues to maintain pricing discipline in a highly
competitive market.

For PDP, the Company now estimates a net membership decline of approximately
125,000 members for the year ended December 31, 2022, compared to its previous
estimate of a loss of 'a few hundred thousand members'. The revised estimate is
primarily attributable to better than expected sales of the Walmart Value plan
and lower than projected Premier plan terminations.





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Full Year 2022 Adjusted EPS Guidance Discussion



The Company also intends to reiterate its 2022 Adjusted EPS guidance commentary,
as shared on its third quarter 2021 earnings call on November 3, 2021,
indicating that its initial Adjusted EPS guidance will target the low end of its
long-term growth range of 11 to 15 percent, off of the $21.50 mid-point of its
original 2021 Adjusted EPS guide. The Company currently anticipates that COVID
will be net neutral to the Medicare Advantage business in 2022. However, the
Company's initial 2022 Adjusted EPS guidance will include an explicit COVID
related headwind that it expects to be able to tolerate should it emerge.

The Company plans to host a conference call and announce its financial results
for the fourth quarter and year ended December 31, 2021, as well as provide
detailed financial guidance for the year ended December 31, 2022, including
quantification of the explicit COVID headwind to be included in its initial 2022
Adjusted EPS guide, on Wednesday, February 2, 2022.

Cautionary Statement



This Current Report on Form 8-K includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, generally
including the words or phrases like "expects," "believes," "anticipates,"
"intends," "likely will result," "estimates," "projects" or variations of such
words and similar expressions that are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties, and assumptions, including,
among other things, information set forth in the "Risk Factors" section of the
Company's SEC filings.

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