Centene's profit up 144% as ACA marketplace business grows

Centene reported strong results in the first quarter of 2018 as its ACA marketplace presence and expansion into other new programs boosted revenues.

Here are four things to know about about Centene's financial results for the three months ended March 31.

1. Centene saw first quarter revenue climb 13 percent this year to $13.2 billion, compared to $11.7 billion in the same period of 2017. The insurer said the growth reflected its expanded presence in the ACA individual marketplaces in 2018 and the reinstatement of the health insurer fee in 2018.

2. The insurer saw managed care membership increase 6 percent year over year to 12.8 million, with its commercial market growing 16 percent year over year to 2.2 million.

3. Centene saw its health benefits ratio, or the amount it pays toward members' medical expenses, decline to 84.3 percent for the first three months of 2018, down from 87.6 percent from the same period a year before.

4. Centene ended the first quarter of 2018 with net income of $340 million, up 144 percent from $139 million during the same period a year prior.

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