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Health insurance company

Humana

said it expects its expense ratio to be at the high end of estimates this year.

Shares of

Humana

(ticker: HUM) fell 3.9% after the company said in a filing that its full-year insurance segment benefit expense ratio would be at the “top end” of a range of 86.3% to 87.3%.

Humana

said its expectations were prompted by higher-than-anticipated emergency room visits, outpatient surgeries, inpatient appointments, and dental services. The company also said it “has continued to experience strong individual Medicare Advantage growth in recent months.”

Humana’s guidance echoed that of

UnitedHealth

(UNH), which said earlier this week at a conference that with mask mandates dropping at medical offices and pandemic worries abating “more seniors are just more comfortable accessing services for things that they might have pushed off a bit like knees and hips.”

An increase in procedures and appointments means higher costs for health insurance companies.

UnitedHealth

said it expects its second-quarter medical cost ratio, or medical costs divided by premium revenue, at the high-end or slightly above its full-year outlook.

Humana, in the filing Friday, also reaffirmed its adjusted earnings outlook for 2023 of “at least” $28.25 a share, below analysts’ expectations of $28.32.

Write to Emily Dattilo at [email protected]