Humana is the 'Biggest Winner' From CMS' Medicare Advantage Star Ratings Impact on 2028 Reimbursements, Oppenheimer Says

MT newswire2026/10/09 16:46

12:46 PM EDT, 10/09/2026 (MT Newswires) -- Humana (HUM) is the "overwhelming" winner from the Centers for Medicare & Medicaid Services' Medicare Advantage Star Ratings impact on 2028 reimbursements, Oppenheimer said in a Thursday research report. CMS released Star Ratings affecting 2028 reimbursement, with 4+ Star Rating membership exposure at 71% compared with 64% a year earlier, analysts wrote. The brokerage estimated that with 95% of Humana members in 4+ Star plans, the difference will account for over $3.6 billion in revenue for the company, resulting in around $20 in EPS if not passed through to bids, according to the note. Humana's membership-weighted average Star Rating grew from 53% to 95%, driven by a rebound in the national contract, according to Oppenheimer. The brokerage said it reiterated its outperform rating on the stock and increased its price target to $475 per share from $405. Price: 434.65, Change: +47.53, Percent Change: +12.28

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