Cooperating for better care.

Centene

Tag Archives

Centene reports strong insurance-marketplace business

July 25, 2017by Robert Whitcomb in Uncategorized tagged , , ,

 

FierceHealthcare reports:

“Driven by a strong performance in its health insurance marketplace business, Centene reported better-than-expected second-quarter earnings on Tuesday—the same day Senate Republicans were poised to vote to advance legislation to repeal the Affordable Care Act.

“The insurer, which primarily specializes in Medicaid managed care, said its its profits rose to $254 million ($1.44 earnings per share) in the quarter, up from $171 million in the second quarter of 2016. Its adjusted EPS of $1.59 beat analysts’ consensus estimate of $1.30 per share, and it raised its full-year guidance by 18 cents to a range of $4.70 to $5.06 per share.

“Centene said its “strong 2017 marketplace performance” exceeded its expectations in the second quarter by $0.12 diluted earnings per share, and added that its second-quarter earnings of 17 cents per share net benefit related to risk adjustment under the ACA.

“The insurer previously said it would expand its ACA exchange presence in 2018, even as policy uncertainty has driven other insurers to exit.”

To read more, please hit this link.

Centene completes Health Net purchase

March 29, 2016by Robert Whitcomb in Uncategorized tagged , ,

 

Centene has completed its  $6 billlion acquisition of Health Net, creating the largest Medicaid managed-care organization.  California regulators’ approval of the deal paved the way for the transaction to close.

The acquisition expands Centene’s government products to include Medicare Advantage and contracts with Department of Defense and the Veterans Administration,  as well as expanding its role in the health-insurance marketplaces. The integrated company will be insuring more than 10 million members.

The Department of Justice and some state insurance departments are still reviewing Aetna’s acquisition of Humana as well as  Anthem’s  purchase of Cigna.

The big get bigger

July 3, 2015by Robert Whitcomb in Uncategorized tagged , , , , , , ,

bigfish

Aetna’s planned  $37 billion purchase of rival  Humana, which would make Aetna the biggest health insurer, would accelerate the consolidation of health systems as hospitals seek more leverage in negotiating with insurers  whose increasing size gives them vast negotiating power.

The deal would make Aetna a major player in the surging Medicare Advantage business and  would bolster Aetna’s presence in   Medicaid and in Tricare coverage for military personnel and their families. But everyone in the healthcare sector  would be affected,  directly or indirectly, including Federally Qualified Health Centers.
Modern Healthcare noted that Aetna’s  announcement came  a day after the Medicaid coverage provider Centene said it would buy fellow insurer Health Net to  help Centene expand in  the California Medicaid market, the nation’s biggest, and give it a Medicare presence in several other western states.
As private-sector-employer-based insurance has shrunken, the big insurers are  expanding into public programs at an ever faster clip.

 

 

 

 

Contact Info

info@cmg625.com

(617) 230-4965

Wellesley, Mass