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Centene Corporation reports news on its government-sponsored managed care business, including Medicaid, Medicare, individual exchange coverage and Medicare Part D plans. Company updates commonly cover quarterly results, EPS guidance, membership by line of business and health-plan subsidiary activity across state markets.
Centene news also includes initiatives from the Centene Foundation and operating companies such as Health Net, Superior HealthPlan, Home State Health, Sunshine Health, Buckeye Health Plan, Carolina Complete Health and WellCare of Kentucky. Recurring themes include affordable housing, medically tailored meals, provider accessibility, workforce development, community health, social services and programs that address drivers of health for managed care members.
Centene (NYSE: CNC) has appointed Alan Silver as President of its Ambetter Health Solutions business, focusing on Individual Coverage Health Reimbursement Arrangements (ICHRA). This new leadership role reflects Centene's strategic focus on ICHRA growth, which allows employees to select individual Marketplace insurance plans using employer-provided tax-free stipends.
Silver brings over 20 years of leadership experience in benefits administration and actuarial consulting, previously leading retiree medical and ICHRA initiatives at Willis Towers Watson. The appointment aligns with Centene's vision of ICHRA as a cornerstone of their growth strategy, emphasizing transparency, customization, choice, and convenience in healthcare coverage.
Ambetter Health, which serves more than 4.5 million members in the individual market, aims to enhance ICHRA offerings to meet evolving market needs and drive greater adoption among employers and employees.
Health Net, a Centene (NYSE: CNC) company and Medi-Cal managed care health plan, has announced special assistance measures for members affected by the Palisades Fire and windstorm conditions in Los Angeles and Ventura Counties, following Governor Newsom's state of emergency declaration.
The company is implementing several support measures including: emergency prescription medication supplies from original pharmacies, 24/7 behavioral health services for crisis support, and free telehealth services when primary care providers are unreachable. Healthcare providers can receive assistance with emergency prescription refills, expedited approvals, and out-of-network treatment authorizations.
MHS Serves, a health equity program from Managed Health Services (MHS) and a Centene (NYSE: CNC) company, has announced a new funding opportunity focused on youth mental health initiatives. The Youth Mental Health Empowerment Program will support the expansion of programs addressing youth access to healthcare, mental health, and trauma-informed care.
In partnership with Indiana Minority Health Coalition and Black Onyx Management, the initiative aims to improve mental health resource access for historically underserved populations. Funding will support professional development, training, program implementation, technical assistance, infrastructure enhancement, and public awareness campaigns.
Applications open January 7, 2025, and close February 20, 2025. Information sessions will be held on January 16, January 29, and February 7, 2025. MHS, serving Indiana for over 25 years, operates various healthcare programs including Hoosier Healthwise, Hoosier Care Connect Medicaid, and the Healthy Indiana Plan.
Health Net, a Centene (NYSE: CNC) company and Medi-Cal managed care health plan, is providing emergency assistance to members affected by the Bird Flu in California following Governor Newsom's state of emergency declaration. The company is ensuring uninterrupted access to essential services through multiple initiatives:
Members can obtain emergency medication supplies from their original pharmacies, access 24/7 behavioral health support for grief and stress counseling, and utilize no-cost telehealth services when unable to reach primary care providers. Healthcare providers can receive assistance with emergency prescription refills, expedited approvals, and out-of-network treatment authorizations.
Superior HealthPlan, a Texas managed care organization and Centene (NYSE: CNC) subsidiary, has awarded a $25,000 grant to NAMI El Paso as part of its 25-year anniversary celebration. The grant will support mental health programs for children and youth in the El Paso area.
NAMI El Paso will use the funding to expand its youth outreach through free, evidence-based, 50-minute learning sessions for middle and high school students. Since 2020, Superior has provided over $600,000 in grant funding to hundreds of community organizations. The company is also offering additional $10,000 grants to be awarded in April 2025, with applications due by March 31, 2025.
NAMI El Paso, established in 1986, has grown from a grassroots organization to become a important part of the community's mental health support system, offering peer-led support groups, educational programs, and advocacy initiatives.
Centene (NYSE: CNC) has announced its 2025 financial guidance, projecting adjusted diluted EPS of greater than $7.25, representing over 6% year-over-year growth. The company also reaffirmed its 2024 adjusted diluted EPS guidance of greater than $6.80.
Key 2025 projections include: total revenues of $166.5-169.5 billion, premium and service revenues of $154.0-156.0 billion, health benefits ratio of 88.4-89.0%, and SG&A expense ratio of 8.1-8.7%. The company serves more than 28 million members and maintains its 2024 premium and service revenues guidance of $143.5-144.5 billion.
Centene (NYSE: CNC) has announced that its upcoming Investor Day will be held virtually on Thursday, December 12, 2024, at 8:30 a.m. Eastern Time. The change to a virtual format comes following the tragic loss of UnitedHealthcare's CEO Brian Thompson.
CEO Sarah M. London expressed condolences, noting Thompson's contributions to healthcare access and his impact on industry professionals. The virtual event will be accessible through a live webcast on Centene's website, with a replay available for 12 months following the presentation.
Centene Foundation announces a $3 million, three-year partnership with the National Association of Community Health Centers (NACHC) to strengthen Community Health Centers (CHCs) nationwide. The initiative focuses on two main areas: enhancing value-based care adoption and improving maternal-child health outcomes.
The partnership includes a national value-based care strategy starting with an annual survey to assess CHCs' participation in value-based payment models, followed by a tailored learning curriculum through NACHC's Elevate platform. Additionally, it will launch a Maternal Health Innovation Exchange, implementing an 18-month quality improvement program in up to 20 health centers.
NACHC represents nearly 1,500 CHCs operating across 16,000 clinics, serving 32.5 million people nationwide, including one in five Medicaid beneficiaries. The centers provide comprehensive primary care services to historically underserved populations.
Centene (NYSE: CNC) has announced plans to host an investor day event on Thursday, December 12, 2024, beginning at 8:30 a.m. Eastern Time. The healthcare enterprise will make the event accessible through a live webcast on their website's Investors section. Interested parties can access the event directly through a provided webcast link, and a replay will be available for on-demand viewing for 12 months following the event.
Meridian Health Plan of Illinois, a Centene company (NYSE:CNC), has partnered with Liberty Bank and Trust to launch a small business loan program in Illinois. The initiative features a $500,000 grant from Meridian that will support $2.5 million in lending power, offering loans ranging from $10,000 to $50,000 to small businesses, particularly diverse and minority-owned enterprises. The Liberty's Lighting Loan Program provides fast application processing within 48 hours and includes supplemental educational programming. The program, which began accepting applications in October, aims to enhance business capabilities and improve operations across Illinois communities.