Centene loses $12M in Q4: 4 things to know


Centene ended the fourth quarter of 2020 with a $12 million loss, according to recent financial statements.

Four things to know:

1. Centene's fourth-quarter revenues totaled $28.3 billion, up from $18.9 billion in the same period of 2019. The insurer attributed the increase to its acquisition of WellCare and growth in its Medicaid and ACA exchange businesses. 

2. Centene did see higher costs related to COVID-19 testing and treatment in the fourth quarter of 2020, particularly in its ACA exchange businesses, the insurer said.

3. The insurer's managed care membership grew to 25.5 million as of Dec. 31, 2020, a year-over-year increase of 10.3 million members.

4. Centene ended the quarter with a $12 million loss, compared to a $209 million profit in the final quarter of 2019. For the full year, Centene posted a profit of $1.8 billion, up year over year from $1.3 billion.

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