Humana provides Medicare Advantage health insurance plans along with other government-sponsored and commercial health insurance products, one of the largest providers of privately administered Medicare plans in the United States. Its Medicare Advantage business lets Humana administer Medicare benefits on behalf of the federal government, earning a per-member payment in exchange for managing healthcare costs and coordinating care for its Medicare Advantage enrollees. This government-focused business model gives Humana particular exposure to federal healthcare policy and Medicare funding decisions, along with the demographic tailwind of an aging population that continues to grow the pool of Medicare-eligible individuals. The company's profitability depends on managing medical costs effectively relative to the government payments it receives for its Medicare Advantage enrollees, a balance that can be affected by regulatory changes, enrollment shifts and the health needs of its covered population.