Centene Will Enter Health Insurance Exchanges in 3 New States
Centene will enter health insurance exchanges in three new states for 2018, in addition to expanding its presence in six other marketplaces.
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By - Centene Corporation will expand its presence in a number of state health insurances exchanges in 2018, building on its successful 2017 marketplace results. The payer is planning to enter the Kansas, Missouri and Nevada health insurance exchanges. It will also expand its 2018 footprint in six existing markets: Florida, Georgia, Indiana, Ohio, Texas, and Washington.
The move comes as several other insurers are reducing participation or withdrawing from health insurance exchanges entirely.
"Centene recognizes there is uncertainty of new healthcare legislation, but we are well positioned to continue providing accessible, high quality and culturally-sensitive healthcare services to our members," said Michael F. Neidorff, chairman, president and CEO for Centene.
Both Kansas and Missouri have seen volatility in their exchanges, with several insurers slated to leave for 2018. The additional exit of Blue Cross Blue Shield Kansas City has left each state with only two remaining insurers, leaving some residents without coverage options.
In contrast, Nevada’s exchanges haven’t seen an exodus of insurers or dips in enrollment. Centene will join fellow newcomers, Aetna and Silver Summit, by entering the state exchanges for 2018.
The expansion of Centene’s existing marketplace offerings are especially good news for Ohio and Washington. Like many states, they have seen payer exits leave residents with few if any healthcare coverage options.
Centene’s success with health insurance exchanges may arise from their record of providing coverage for underinsured and uninsured individuals. The payer has an established history of offering Medicaid, Medicare, Children's Health Insurance Program (CHIP), Aged, Blind or Disabled (ABD), Foster Care and Long Term Care (LTC) plans, in addition to other state-sponsored programs.
Ninety percent of Centene’s 537,200 exchange members are eligible for premium subsidies. The company reported a rise in total membership to 1.32 million as of 2017.
Demographic consistency in the member pool over the last three years is a key factor for being able to expand and enter new health insurance exchanges, Centene said. These key demographics include age, gender, financial status and metal tier membership.
"Centene has demonstrated disciplined execution, agility and capacity to successfully navigate industry changes to the benefit of our members, customers and shareholders," added Neidorf.
