Growth in ACA plans keeps Medicaid giant Centene from worst of redeterminations impact

Healthcare DIVE July 26, 2024
Rebecca Pifer

Centene continued to deal with a mismatch between Medicaid rates and patient acuity in the second quarter, but still exceeded Wall Street’s expectations thanks to Affordable Care Act growth.

Dive Brief:

• Centene on Friday became the latest health insurer to report elevated Medicaid spending due to a mismatch between patients’ health needs and the rates paid by Medicaid states.
• Still, the St. Louis-based insurer announced higher revenue and earnings in the second quarter than analysts expected. Centene’s topline of $39.8 billion was up 6% year over year while net income of $1.2 billion grew nearly 9%, mostly thanks to membership growth and a large risk adjustment payment in the Affordable Care Act marketplaces.
• Centene once again increased its full-year...

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