Is Humana (HUM) stock Halal?

Humana is a leading healthcare insurance company that primarily focuses on offering comprehensive health insurance products and services. It operates in the insurance sector and is a significant player in the Medicare Advantage market, providing coverage solutions for senior citizens eligible for Medicare. Additionally, Humana boasts a diverse range of health plans, including individual, group medical plans, and specialty products like dental and vision care. For Muslim investors, though, the most pressing question is simpler: is Humana a Halal investment?

Is Humana Shariah compliant?

No. In the October 2026 screening Humana (HUM) does not pass AAOIFI screening: it fails the non-permissible income, interest-bearing investments and interest-bearing debt screens. Medicines and medical devices are permissible, and healthcare companies like Humana usually clear the activity screen comfortably. What AAOIFI Shariah Standard No. 21 watches is the financing behind the pipeline: drug development is expensive, and the 30% interest bearing debt cap decides the verdict more often than the science does.

Does Humana pass the business activity test?

The activity screen is only part of the picture this month: Humana currently fails the non-permissible income, interest-bearing investments and interest-bearing debt screens, so the overall verdict is not compliant regardless of the business itself. Treating illness is permissible work; the scrutiny belongs to the financing behind it.

Is Humana's income Halal?

No. Humana's income from impermissible sources currently exceeds AAOIFI's 5% revenue ceiling, which makes the stock non-compliant on this screen regardless of the others. The screen is reassessed monthly, so the status can change when new financial statements arrive.

Does Humana meet AAOIFI's debt and investment ratio requirements?

No. Both ratios currently breach the 30% caps, measured against a market capitalisation of $45.8B (market data as of 1 October 2026): interest bearing investments and interest bearing debt each exceed the limit AAOIFI permits for a Halal investment. The ratios move with the share price as well as the balance sheet, and our Shariah Supervisory Board has HUM re-screened every month.

Why do other halal screeners show a different verdict for Humana?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read What is Halal Investing? A Guide to Halal Stocks and Islamic Finance