Centene broadens ACA marketplace footprint, includes 4 brand-new states

Centene is expanding its market offerings in 10 markets in 2019, consisting of 4 new states.The St. Louis-based insurance company revealed on Wednesdaythat it will go into markets in Pennsylvania, North Carolina, South Carolina and Tennessee, and expand its reach in Florida, Georgia, Indiana, Kansas, Missouri and Texas. The plans will be used through its Ambetter brand.The growth brings

count on our suite of newsletters as their must-read source for the current news, analysis and data affecting their world. Register today to get healthcare news and updates provided to your inbox and continue reading the go. SUBSCRIBE NOW Centene has profited notably off of the exchanges over the last year. At the end of Q1 this year, it reported a 13 %increase in income, as well as net revenues up $139 million from Q1 2017. By the end of the 2nd quarter, it saw$27.3 billion more in revenue compared to a yearprior, consisting of $14.2 billion from the private market, which it partly credited to its acquisition of Fidelis Care.In Wednesday’s statement, Centene Chairman and CEO Michael F. Neidorff stated his business has”effectively navigated a tough registration environment, getting market share and surpassing our development targets.”But the last year hasn’t been entirely smooth sailing for Centene. In January, consumers filed a class-action fit versus the business for”offering junk intend on state exchanges and deceptive enrollees about the strategy advantages “and company network.Centene also stopped working to repay claims from providers with whom it did really have agreements, the match alleged.Late last year, Washington state pinned the company with a$1.5 million fine for its network shortage issues. State authorities later on suspended that pending