Centene to enter ACA exchanges in 3 states

Morgan Haefner - Print  | 

St. Louis-based Centene Corp. will offer health plans on ACA exchanges in Kansas, Missouri and Nevada in 2018, and will expand its exchange presence in Florida, Georgia, Indiana, Ohio, Texas and Washington.

Michael Neidorff, chairman, president and CEO for Centene, said the payer "recognizes there is uncertainty of new healthcare legislation," but it is "well positioned." The company said it experienced "successful operations on the exchanges" last year, growing its exchange-based membership from 537,200 in Dec. 31, 2016, to 1.2 million as of March 31 this year.

Centene also reported revenue of $40.6 billion for fiscal year 2016, up 78 percent from $22.8 billion in 2015. The payer attributed the year-over-year revenue increase to its Woodland Hills, Calif.-based Health Net purchase, as well as continued growth in its health insurance marketplace business.

Centene is in the process of seeking regulatory approvals for its 2018 offerings. 

More articles on payer issues:
Connecticut regulators asked to reject Anthem's rate increases
5 places with the highest rates of insured children
Sutter Health, Aetna to launch joint health plan

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