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42014 Annual Report
In conclusion, we believe the elements
we’ve described come together to
form a powerful investment thesis
for shareholders:
Continued robust organic
membership and revenue growth,
Proven superior clinical
operating performance, and
Disciplined capital allocation,
which all lead to
A sustainable
competitive advantage.
We continue to be pleased with
Humana’s prospects as we further
develop and implement our strategy.
The engagement of our associates
and focus on the consumer through
our Integrated Care Delivery Model
have never been stronger. Humana
believes it’s not enough just to try to
close the gap between people and care.
We believe in the accountability that
comes from “a dream with a deadline.
But we also know we can’t do it alone.
We eagerly invite partnerships from all
like-minded groups and individuals in
the communities we serve, to make a
positive, enduring difference in
people’s health and lives.
Sincerely,
Kurt J. Hilzinger
Chairman of the Board and Stockholder
Bruce D. Broussard
Director, President and Chief Executive
Officer and Stockholder
2014 Annual Report 4
The future
2013 2014
Diluted Earnings
per Common Share
p
$10
.
00
$10 00
$7.50
$
5.0
0
$2
.50
$
0.00
2012
7.73*
7.36**
* Includes $0.99 per share of benefits
expense for our closed block long-
term care insurance policies reserve
strengthening.
** Includes $0.15 per share of expense
related to early retirement of debt.
7.47
201
4A
nnu
al
Rep
ort
4
for our newly managed
HCCP members
496k more days
at home
Humana Chronic Care Program
(HCCP) engagement rate
73
%