Fortune May 15, 2019
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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