Centene Corp. and WellCare Health Plans received approvals from Illinois and New Jersey to merge, the organizations said Dec. 5.
Three things to know:
1. The Illinois Department of Insurance, the New Jersey Department of Banking and Insurance, and the New Jersey Division of Medical Assistance and Health Services each approved the proposed deal.
2. The companies still need approval for divestitures in Illinois and Nebraska. In Illinois, Centene is set to spin off its IlliniCare Health Plan to CVS Health for an undisclosed amount.
3. The Centene-WellCare deal is still slated to close in the first half of 2020.