Fierce Healthcare August 7, 2024
Centene is exiting six states through its WellCare Medicare Advantage (MA) subsidiary next year, investment bank Stephens has revealed.
Those six impacted states are Alabama, Massachusetts, New Hampshire, New Mexico, Rhode Island and Vermont, with approximately 12,600 members affected in New Mexico, the most of any state.
In Vermont, Centene accounts for about 9% of the market share in the state. All told, all market exits will impact around 37,300 members and about 3% of Centene’s current MA membership, a research note from Stephens showed.
“Notably, CVS and UnitedHealthcare both maintain presences across each impacted market,” the brief said.
The insurer will still offer its prescription drug plans in these states. Centene commands the most market share for standalone Part...
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