Home Health Care News August 5, 2024
Centene Corp. (NYSE: CNC) is set to pull back on Medicare Advantage (MA) in at least six states next year. As the Centers for Medicare & Medicaid Services (CMS) has made cuts to core rates over the last couple of years, insurers have put the brakes on MA expansion.
Specifically, Centene will exit Alabama, Massachusetts, New Hampshire, Rhode Island, New Mexico and Vermont in 2025, according to the investment banking company Stephens.
In total, that will affect around 37,000 MA members, Stephens reported. By market share, Vermont is the biggest exit for Centene, where it owned about 9% of the market.
As of 2023, Centene owned about 4% of the MA market overall, according to Kaiser Family Foundation.
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