Forbes February 6, 2024
Centene reported fourth quarter profits of $45 million as membership and premium revenue grew thanks to a big increase in sales of Obamacare coverage, the health insurer said Tuesday.
Centene, which sells an array of government subsidized health insurance including individual commercial insurance coverage under the Affordable Care Act known as Obamacare, said total managed care membership increased slightly to 27.47 million, compared to 27.06 million at the end of the fourth quarter of 2022.
Centene’s enrollment in individual coverage under the Affordable Care Act, which the health insurer calls its “commercial marketplace” business nearly doubled to 3.9 million members from 2 million a year ago.
Such growth helped Centene’s “premium and service revenues” increase 5% to to $35.3...
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