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Centene Reports Marketplace Growth, Medicaid MLR Miss in 3Q

  • Oct 27
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    Oct 27, 2023

    Centene Corp. reported sterling results in the third quarter of 2023, with the firm exceeding its quarterly earnings target and executing $773 million in share repurchases in that time. Executives promised further improvement on Medicare Advantage Star Ratings and touted notable individual marketplace enrollment growth during the quarter.

    Centene executives credited the strong results to membership growth and low utilization in the firm’s Affordable Care Act marketplace book of business. Executives also said that the firm, which mainly has members who are enrolled in managed Medicaid plans, has capably weathered the return of eligibility redeterminations, which were suspended during the bulk of the COVID-19 public health emergency and resumed in the spring. The firm’s total Medicaid enrollment during the third quarter declined by only 2.9% year over year to 15.24 million members. Read more
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    • Peter Johnson

    Peter has worked as a journalist since 2011 and has covered health care since 2020. At AIS Health, Peter covers trends in finance, business and policy that affect the health insurance and pharma sectors. For Health Plan Weekly, he covers all aspects of the U.S. health insurance sector, including employer-sponsored insurance, Medicaid managed care, Medicare Advantage and the Affordable Care Act individual marketplaces. In Radar on Drug Benefits, Peter covers the operations of (and conflicts between) pharmacy benefit managers and pharmaceutical manufacturers, with a particular focus on pricing dynamics and market access. Before joining AIS Health, Peter covered transportation, public safety and local government for various outlets in Seattle, his hometown and current place of residence. He graduated with a B.A. from Colby College.

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