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Centene says will stay in Obamacare exchanges this year

April 30, 2017

Despite the uncertainty surrounding the Affordable Care Act, Centene Corp.remains committed to participating in the ACA exchanges.

Chairman, President and CEO Michael Neidorff said during a conference call Tuesday that the managed care provider will remain in the exchanges for 2018.

“Whether the ACA remains the law of the land or a repeal and replace bill comes to fruition, Centene is well-positioned,” Neidorff said. “Regarding Medicaid, any changes that give additional flexibility to the states aligns nicely with Centene’s local decentralized approach. As to exchanges, we see nothing at this point to prevent us from proceeding with our 2018 marketplace participation.”

As of March 31, Centene served about 1.2 million exchange members, up about 500,000 from the previous year. Neidorff said about 80 percent of Centene’s 2016 exchange members renewed their plans for 2017.

Centene reported total revenue for the first quarter of $11.7 billion, up 69 percent from the first quarter of 2016. The increase was primarily attributable to the closing in 2016 of the company’s acquisition of competitor Health Net.

As of March 31, the company had managed care membership of 12.1 million, up 5 percent from 2016.

“We are pleased with the operating results for the first quarter, providing momentum for the remainder of the year,” Neidorff said in a statement.

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