Centene has largely ignored the political rollercoaster rocking the Affordable Care Act in recent years and stuck to the health law’s individual insurance marketplaces, offering Obamacare coverage in 20 states in 2019. Last year, the strategy continued to pay off, with Centene counting an additional 1.8 million members (up 15% from 2017) in its managed care plans—including more than 500,000 new members in individual insurance marketplaces—as other firms exited the exchanges. Like many health insurers, Centene took a hit from the return of Obamacare fees on insurers. Still, annual revenues grew 24% to $60.1 billion. This year, the company is trying to deepen its footprint in government-associated plans with a proposed acquisition of rival WellCare.
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News about Centene
Deal will reduce Centene's dependence on Obamacare exchanges.
The court decision is expected to be appealed and won't affect 2019 health care plans.
Fidelis serves more than 1.6 million people.
A current of activism and community building still runs strong in the St. Louis suburb.
Centene boosted profits in 2Q and raised its outlook for the full year