Meridian Health Plan of Illinois and Centene Foundation Award $2.2 Million Grant to Safer Foundation for Purchase and Renovation of Affordable Housing Building in Chicago

Rhea-AI Summary

Meridian Health Plan of Illinois (NYSE: CNC) and the Centene Foundation awarded a $2.2 million grant to Safer Foundation to buy and renovate a 23-unit apartment building at 146-150 N. Central Ave in Chicago's South Austin neighborhood.

Renovations include roofing, HVAC, electrical, lead remediation, kitchens, bathrooms and security upgrades; units (15 one-bed, four two-bed, four three-bed) are expected ready for occupancy in 2026 and some will be reserved for justice-involved residents.

Positive

• $2.2M grant funds purchase and renovation of 23-unit building
• Adds 23 affordable rental units to Safer Foundation portfolio for 2026 occupancy
• Reserved units for justice-involved residents including Colbert & Williams graduates
• Renovations include structural, safety, and lead remediation upgrades

Negative

• None.

News Market Reaction

+4.06%

1 alert

+4.06% News Effect

On the day this news was published, CNC gained 4.06%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Grant amount: $2.2 million Affordable rental units: 23 units Homeless individuals 2024: 18,836 people +5 more

8 metrics

Grant amount $2.2 million Grant from Meridian and Centene Foundation to Safer Foundation

Affordable rental units 23 units New Safer Foundation building in Chicago’s South Austin

Homeless individuals 2024 18,836 people City of Chicago Point-in-Time count, single night 2024

Homeless individuals 2023 6,139 people City of Chicago Point-in-Time count, single night 2023

Homeless individuals 2025 7,452 people City of Chicago Point-in-Time count, 2025

Justice-involved share 35% People experiencing homelessness with incarceration history

Annual clients served 4,200+ people Safer Foundation annual service volume

Building units 15 one-bed, 4 two-bed, 4 three-bed Unit mix in new Safer Foundation property

Market Reality Check

Price: $38.46 Vol: Volume 7,845,072 is 24% a...

normal vol

$38.46 Last Close

Volume Volume 7,845,072 is 24% above the 20-day average of 6,343,558. normal

Technical Shares trade slightly above the 200-day MA at 41.42, and sit 37.28% below the 52-week high and 67.1% above the 52-week low.

Peers on Argus

CNC’s modest 0.89% gain contrasts with mixed peers: MOH up 3.95%, CI up 1.29%, E...

CNC’s modest 0.89% gain contrasts with mixed peers: MOH up 3.95%, CI up 1.29%, ELV up 8.37%, CVS up 3.35%, while HUM is down 6.16%. Scanner data shows no broad sector momentum.

Historical Context

5 past events · Latest: 2026-01-22 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
2026-01-22	Care quality recognition	Positive	+0.3%	Foster Care Centers of Excellence designations for Austin-area providers.
2026-01-20	Palliative care partnership	Positive	+0.0%	New palliative care program for Buckeye members across Ohio.
2026-01-13	Earnings call notice	Neutral	+0.9%	Announcement of Q4 and year-end 2025 earnings release and call.
2026-01-07	Medicaid partnership	Positive	+0.1%	Cityblock–Meridian partnership to serve 10,000 Medicaid beneficiaries.
2025-12-29	Disaster assistance	Positive	+1.0%	Health Net support package for members hit by California storms.

Pattern Detected

Recent company and plan-level announcements have coincided with small, positive next-day price moves.

Recent Company History

Over the past month, CNC has issued a series of operational and community-focused updates. Designations for foster care centers of excellence, a new palliative care partnership in Ohio, and a Meridian partnership with Cityblock to serve 10,000 Medicaid members all saw modest positive price reactions. An earnings call scheduling release and disaster-assistance communication also produced small gains. Today’s housing-focused grant via Meridian and the Centene Foundation continues this pattern of community and care-access initiatives supporting a steady, constructive narrative.

Market Pulse Summary

This announcement details a $2.2 million grant from Meridian and the Centene Foundation to support 2...

Analysis

This announcement details a $2.2 million grant from Meridian and the Centene Foundation to support 23 affordable housing units in Chicago’s South Austin neighborhood. It reinforces CNC’s broader focus on social determinants of health, complementing recent partnerships and community initiatives. Investors may track how such efforts shape member outcomes and relationships with local stakeholders, alongside upcoming financial milestones like the scheduled 2025 year-end earnings release.

Key Terms

point-in-time (pit) count, managed care organization, medicaid plan, medicare advantage plans, +4 more

8 terms

point-in-time (pit) count technical

"According to the City of Chicago's annual Point-in-Time (PIT) count, 18,836 individuals..."

A point-in-time (PIT) count is a snapshot measurement that records the number or status of a specific item — such as loans, defaults, assets, or cases — at a single, specified date. Investors use PIT counts to see current exposure or risk at that moment (like taking a photograph rather than a movie), which helps assess short‑term performance, compare to forecasts, and detect sudden changes that could affect valuation or credit risk.

managed care organization financial

"Meridian, a leading managed care organization in Illinois and a company of Centene..."

A managed care organization is a company that arranges and pays for medical care by creating networks of doctors and hospitals, negotiating prices, and setting rules about what services are covered and when approval is needed. Investors watch MCOs because they act like a household budget manager for healthcare: profitability depends on balancing the premiums collected with claims paid, membership levels, and cost-control measures, so changes in enrollment, medical costs, or regulations can meaningfully affect revenue and margins.

medicaid plan regulatory

"This includes Meridian's Medicaid Plan, YouthCare HealthChoice Illinois..."

A Medicaid plan is a health insurance program paid for by government funds that delivers medical and long-term care services to low-income individuals and families through private insurers or state-run programs. Think of it like a government-sponsored subscription that pays providers for members’ care; it matters to investors because enrollment size, reimbursement rates, and government rules drive predictable revenue, margins, and regulatory risk for companies serving that market.

medicare advantage plans regulatory

"This includes Meridian's Medicaid Plan, YouthCare HealthChoice Illinois, Wellcare (Medicare Advantage plans)..."

Medicare Advantage plans are private insurance programs that replace or bundle the basic government Medicare coverage into a single, managed plan offered by private companies. Think of them like a bundled phone plan that combines several services and rules into one package; they matter to investors because enrollment numbers, payment rates set by the government, and plan rules directly affect revenue, profit margins, and service demand across insurers, hospitals, and drug providers.

medicare-medicaid plans regulatory

"Wellcare By Meridian (Medicare-Medicaid plans), and Ambetter Marketplace plans."

Medicare‑Medicaid plans are health insurance products that combine benefits from Medicare (federal coverage for older adults and certain disabled people) and Medicaid (state‑based coverage for low‑income individuals) into a single, coordinated policy. Think of them as putting two care systems under one manager to simplify bills and services; investors watch them because they involve government payments, enrollment trends, and regulatory rules that directly affect revenue, costs and financial risk for plan providers.

health insurance marketplace regulatory

"individuals and families served by the Health Insurance Marketplace and the TRICARE program."

An online or government-run platform where individuals and small businesses compare, enroll in, and buy private health insurance plans; it functions like a virtual storefront that lists different coverage options, prices, and eligibility information side-by-side. Investors care because these marketplaces shape how many customers insurers gain, the types of plans sold, and pricing dynamics—changes in rules, subsidies, or enrollment can quickly affect insurers’ revenue, risk mix, and competitive position.

tricare program regulatory

"individuals and families served by the Health Insurance Marketplace and the TRICARE program."

A Tricare program is the U.S. Department of Defense’s health care system that provides medical coverage to active-duty service members, retirees, and their families, operating much like a large insurance plan run by the military. Investors pay attention because changes in Tricare enrollment, payment rules, or contract awards can shift revenue and costs for hospitals, clinics, health insurers, and government contractors that rely on this steady stream of patients and government payments.

government-sponsored managed care financial

"provide government-sponsored managed care to families, children, seniors..."

A system where a government hires or funds private health plans to arrange and pay for medical services for a defined population, combining public funding with private management. Think of it as the government outsourcing a company’s employee health program to a benefits administrator who must control costs and coordinate care. Investors watch these programs because they shape payment rates, patient volumes, profit margins and regulatory risk for insurers, hospitals and drugmakers.

AI-generated analysis. Not financial advice.

Safer Foundation to Offer 23 Affordable Rental Units for Underserved Individuals in the Austin Neighborhood

CHICAGO, Jan. 29, 2026 /PRNewswire/ -- Meridian Health Plan of Illinois, Inc. (Meridian) and the Centene Foundation today announced a $2.2 million grant to Safer Foundation (Safer), one of the nation's largest nonprofits providing reentry assistance for more than 50 years, for the purchase and renovation of an apartment building in Chicago's South Austin neighborhood. The grant supported Safer's purchase of the building at 146-150 N. Central Avenue and renovations of its affordable units that will be available in 2026.

Meridian, a leading managed care organization in Illinois and a company of Centene Corporation (NYSE: CNC), along with the Centene Foundation—the philanthropic arm of Centene Corporation—jointly awarded the grant to Safer Foundation. The purchase of the 23-unit building adds to Safer's affordable housing portfolio that provides stable housing to individuals returning to community living and those transitioning from institutional or supportive care settings.

Initial renovations at Safer Foundation's new building have been completed, including cleaning the exterior grounds and repairing security gates for the parking area. Renovations will include security upgrades, structural repairs, new roofing, electrical and HVAC systems, lead remediation, updated kitchens and bathrooms, fresh paint, new flooring, and modern appliances. The building will provide a variety of housing options for individuals and families seeking assistance, including 15 one-bedroom units, four two-bedroom units, and four three-bedroom units. Safer Foundation expects renovations to be completed for occupancy in 2026.

Safer Foundation will maintain the affordable housing for the community and designate some of the 23 units for justice-involved individuals. Four units may house Colbert & Williams program graduates, including those reintegrating from institutional or supportive care environments. These units aim to provide stability as residents transition toward self-sufficiency.

According to the City of Chicago's annual Point-in-Time (PIT) count, 18,836 individuals were experiencing homelessness on a single night in 2024 — a sharp increase from the 6,139 counted in 2023. The 2025 PIT count identified 7,452 individuals experiencing homelessness, which represents a 21.4% increase over the 2023 total. The assessment also found that 35% of people experiencing homelessness have a history of incarceration.

"There is a clear and growing shortage of affordable, accessible housing—especially in Cook County," said Cristal Gary, Meridian Plan President and CEO. "By partnering with Safer Foundation, we're not just expanding housing—we're delivering a comprehensive, strength-based model that meets people where they are and helps them build toward long-term stability. At Meridian, we're committed to closing economic and social gaps, and that includes investing in the critical infrastructure—like housing—that empowers individuals, families, and entire communities to thrive."

"Safer Foundation, with the vital financial support of Meridian and Centene Foundation, is proud to announce this important addition in our rapidly expanding affordable housing portfolio. This funding allows us to further our mission of providing affordable housing opportunities for the local community, including hard-working returning residents and their families," said Victor Dickson, Safer Foundation President and CEO. "Stable housing is one of our most fundamental needs, and without it, individuals and families, whether they have records or not, face immense challenges in leading productive lives. This partnership is instrumental in our holistic approach to creating lasting social impact in the communities we serve."

Prospective residents for Safer Foundation's affordable housing are referred by its program navigators or can apply directly by calling (844) 442-2227 for housing support, and all applicants must undergo a formal application process.

For more information on Meridian's community impact and its support of local organizations working to close care gaps and address health-related social needs, visit ILMeridian.com/IL-first.

About Meridian Health Plan of Illinois
Meridian Health Plan of Illinois, Inc. and its family of health plans provide government-sponsored managed care to families, children, seniors, and individuals with complex medical needs. This includes Meridian's Medicaid Plan, YouthCare HealthChoice Illinois, Wellcare (Medicare Advantage plans), Wellcare By Meridian (Medicare-Medicaid plans), and Ambetter Marketplace plans. Meridian connects members to care and offers comprehensive services to support lifelong health and wellness. Meridian is a company of Centene Corporation, a leading healthcare enterprise committed to helping people live healthier lives. Learn more at ILmeridian.com.

About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach - with local brands and local teams - to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under­ insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drugs Plans) as well as individuals and families served by the Health Insurance Marketplace and the TRICARE program. The Company also contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and value creation as well as the development of its people, systems, and capabilities so that it can better serve its members, providers, local communities, and government partners.

Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, https://investors.centene.com/.

About Safer Foundation
Safer Foundation (Safer) is an Illinois-based nonprofit organization dedicated to delivering stabilizing reentry supports and opportunities for people with arrest and conviction records, improving the socio-economic well-being of the individual, their families, and their communities.

Since its founding in 1972, Safer has empowered tens of thousands of individuals to rebuild their lives and realize their true potential through providing housing and other holistic supports including job placement, education, health services, and advocacy. With its headquarters in Chicago and locations throughout the Midwest, today the organization serves more than 4,200 people annually.

For more information about Safer Foundation's programs, please visit www.saferfoundation.org or follow Safer on Instagram, Facebook and LinkedIn.

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SOURCE Meridian of Illinois

FAQ

What did Meridian (CNC) and Centene Foundation fund for Safer Foundation in January 2026?

They funded the $2.2 million purchase and renovation of a 23-unit apartment building in South Austin. According to Meridian, the grant covers acquisition and extensive renovations to deliver affordable housing by 2026.

How many affordable units and unit types will Safer Foundation offer at 146-150 N. Central Ave?

Safer will offer 23 units: 15 one-bedroom, four two-bedroom, and four three-bedroom apartments. According to Safer Foundation, these units will serve individuals and families with prioritized placements for some justice-involved residents.

When will the renovated affordable housing units be available for occupancy in Chicago?

Renovations are expected to finish with occupancy available in 2026. According to Meridian, initial work is complete and remaining upgrades include roofing, HVAC, electrical, kitchens, bathrooms, and lead remediation.

Will any of the new Safer Foundation units be reserved for people reentering from incarceration?

Yes; some of the 23 units will be designated for justice-involved individuals, including four for Colbert & Williams program graduates. According to Safer Foundation, these units aim to support stability during reintegration.

How can applicants apply for Safer Foundation affordable housing funded by Meridian (CNC)?

Prospective residents can be referred by program navigators or apply directly by calling (844) 442-2227. According to Safer Foundation, all applicants must complete a formal application and screening process for housing support.