Centene confirms 2018 ACA exchange participation after strong Q1 earnings
St. Louis-based insurer Centene says its committed to offering coverage on the Affordable Care Act (ACA) exchanges in 2018, reporting growth of 500,000 in its marketplace plans through the first quarter of 2017.
The St. Louis Business Journal reports through March 31, Centene served about 1.2 million members through its Ambetter-branded exchange plans in 12 states, including Texas, Florida and Ohio. Unlike other insurers, who have reported hefty losses covering the sicker-than-expected ACA marketplace risk pool, Centene’s revenue was up 69 percent to $11.7 billion, with operating cash flow increased by $196 million.
“Whether the ACA remains the law of the land or a repeal and replace bill comes to fruition, Centene is well-positioned," said Michael Neidorff, Centene chairman, president and CEO. “Regarding Medicaid, any changes that give additional flexibility to the states aligns nicely with Centene's local decentralized approach. As to exchanges, we see nothing at this point to prevent us from proceeding with our 2018 marketplace participation.”
For more on Centene’s financials, click on the link below:
John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.