Centene Corp Del Stock Price, News & Analysis

Superior HealthPlan, a subsidiary of Centene (NYSE: CNC), has awarded $24,000 in grants to 12 nonprofits and providers across Texas through its quarterly community and provider grant program. The funding aims to address the needs of low-income neighborhoods and communities in Texas. Recipients include organizations focusing on health awareness, education, housing support, literacy, vocational training, and healthcare services.

Since 2020, Superior has provided more than $600,000 in funding to over 200 community partners and providers through this program. The grants address non-medical drivers of health such as food insecurity, economic stability, housing, education, and other critical needs affecting overall health and well-being. The next application deadline for the Superior HealthPlan Grant Program is September 30.

The National Hispanic Health Foundation (NHHF) is hosting its California Leadership Fellowship Program at the Sacramento Institute, supported by Centene Foundation and Centene/Health Net. The year-long executive training program aims to uplift Hispanic physicians and improve American healthcare. The Sacramento Institute will connect fellows with key stakeholders to enhance their understanding of healthcare leadership pathways.

NHHF and Centene will host a reception on August 13, 2024, to honor the CA Fellowship Class of 2024, recognizing Assemblymember Joaquin Arambula, MD, and Suzan Murin, MD. The event will take place at the Centene/Health Net Sacramento Campus. The press release lists ten distinguished physicians who are part of the NHHF California Leadership Fellows Class of 2024, representing various medical specialties and institutions across California.

Health Net, a Centene company (NYSE: CNC), has partnered with over 30 organizations across California to distribute 8,000 backpacks to students for the 2024-25 school year. The initiative aims to support families by providing essential school supplies and health-related information. Martha Santana-Chin, Plan Chief Product President at Health Net, emphasized the company's commitment to helping families prepare for the school year.

The backpacks contain informative flyers in English and Spanish about Medi-Cal enrollment, telehealth, and whole person health support. Health Net's partnerships with local organizations help deliver care to those in need and ensure children are prepared for academic success. The company has also awarded millions in grants to support localized programs addressing children's complex physical, behavioral, and oral health needs.

Superior HealthPlan, a leading managed care organization in Texas and a subsidiary of Centene (NYSE: CNC), is celebrating its 25th anniversary by launching a special grant program. The company is offering a $25,000 grant to support community organizations and schools addressing local needs such as food, housing, transportation, mental health, and other basic necessities.

Key points:

• Application deadline: August 30, 2024
• Grant award announcement: November 2024
• Eligible applicants: Community organizations and schools in Texas
• Since 2020, Superior has provided nearly $500,000 in grant funding to 225 organizations

Interested organizations can apply online at SuperiorHealthPlan.com/25YearGrant. This initiative reflects Superior's commitment to investing in the health and well-being of Texas communities.

WellCare of North Carolina, a Medicaid health plan and Centene (NYSE: CNC) subsidiary, has expanded its partnership with Expressable to offer advanced speech therapy interventions across all 100 North Carolina counties. This expansion follows a successful pilot program in eastern North Carolina that provided home-based screenings and speech therapy for children, along with family education and support.

The program aims to proactively identify children and young adults, from birth to age 19, who can benefit from speech pathology services. It addresses a wide range of needs, including speech, language, and safe feeding skills. This initiative is particularly significant as the CDC reports that one in twelve children in the United States has a communication disorder, with nearly half not receiving necessary treatment and support.

Health Net, a Centene company, has announced a $1.3 million grant to the City of Redondo Beach to address homelessness. The funds will support:

• Purchase of 25 additional Pallet Shelter housing units
• Implementation of an Alternative Crisis Response (ARC) pilot program

The grant aims to provide temporary housing and comprehensive health services for the unhoused population. This initiative is part of Health Net's broader commitment to tackling homelessness in Los Angeles County, with over $39 million invested since 2023 in various programs. The effort aligns with Centene's $900 million partnership with McCormack Baron Salazar to construct affordable housing in eight states, addressing critical housing shortages for vulnerable populations.

Big Brothers Big Sisters of America (BBBSA) has appointed Jonathan Dinesman, Centene 's (NYSE: CNC) Executive Vice President of External Affairs, to its national board. Dinesman, who oversees various key departments at Centene, has been a long-standing advocate for BBBSA's partnership with the healthcare enterprise. This partnership focuses on mental health and wellness programming for underserved youth nationwide. The collaboration between BBBSA and Centene includes initiatives like Strong Youth Strong Communities events and bringing BBBSA to Uvalde, Texas after the 2022 school shooting.

Dinesman's career spans over 25 years in state and federal relations roles. At Centene, he has been instrumental in the company's local approach to healthcare, providing access to quality care for one in 15 Americans. His appointment is expected to bring valuable perspectives to advance access to mentorship for young people, aligning with BBBSA's mission to empower youth to achieve their full potential.

Health Net, a Medi-Cal managed care health plan and Centene company, is providing special assistance to members affected by the Gold Complex and Park Fires in Plumas, Butte, and Tehama counties in California. This comes in response to Gov. Gavin Newsom's declared state of emergency. The company is ensuring uninterrupted access to essential prescription medications, critical information, and healthcare services.

Key provisions include:

• Emergency prescription refills at local pharmacies
• Access to Managed Health Network (MHN) for coping support
• Free telehealth services if primary care providers are unreachable
• Assistance for healthcare providers in expediting approvals and accessing out-of-network treatments

Health Net is committed to taking additional steps if prolonged assistance is needed.

Centene (NYSE: CNC) reported strong Q2 2024 financial results, with a diluted EPS of $2.16 and an adjusted diluted EPS of $2.42, a 15% increase from $2.10 in Q2 2023. The company posted total revenues of $39.8 billion and premium and service revenues of $36.0 billion, up 3% year-over-year. Membership in the Marketplace increased by 34% compared to Q2 2023.

The Health Benefits Ratio (HBR) rose slightly to 87.6%, while the SG&A expense ratio improved to 8.0%. Cash flow from operations was $2.2 billion. Centene reaffirmed its 2024 adjusted diluted EPS guidance floor of greater than $6.80 and updated its total revenue guidance to $155-$157 billion.