Centene Subsidiary Selected to Continue Serving Missouri's Medicaid Managed Care Members and Wins Single Source Foster Care Specialty Contract
ST. LOUIS, May 6, 2022 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today its Missouri subsidiary, Home State Health, has been awarded the MO HealthNet Managed Care General Plan and Specialty Plan. Under the General Plan, Home State will continue serving multiple MO HealthNet programs including Children's Health Insurance (CHIP) members and the state's newly implemented Medicaid expansion population, across all regions of Missouri.
As the sole provider of the Specialty Plan, Home State will serve approximately 40,000 foster children and children receiving adoption subsidy assistance. The Specialty Plan combines health services into a single, specialized health plan for children in the custody of the Missouri Department of Social Services (DSS) and children receiving adoption subsidy assistance. The plan establishes a trauma-informed, comprehensive, and integrated behavioral health and physical health delivery system. The contract is for one year with options for four renewals. Centene Corporation currently provides comprehensive healthcare services and programs to children served in the child welfare system in 19 states, with single source statewide contracts in four states.
"We look forward to the next chapter of our strong relationship with the state, our network of providers and community partners as we continue to deliver member-focused care and improve health outcomes," said Brent Layton, Centene's President and Chief Operating Officer. "We are honored to be selected to serve as the Specialty Plan for children involved with foster care. We look forward to bringing our innovative care management programs that address the whole health of these children in Missouri."
More than 975,000 Missourians receive their healthcare through the state's Medicaid managed care program (MO HealthNet), which provides access to physical health, behavioral health, pharmacy, hospital, and other services. Today, Home State Health serves more than 300,000 Medicaid enrollees and partners with 25,000 healthcare providers statewide.
Home State Health has served the Medicaid population in partnership with MO HealthNet since 2012. The organization also focuses on under-insured and uninsured individuals through its federal insurance marketplace plan, Ambetter. Additionally, Home State Health provides insurance for the Medicare population through its Medicare Advantage plan, WellCare.
Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and value creation as well as the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, http://investors.centene.com.
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(Envolve), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we recorded in 2021 and on other acceptable terms, or at all, or whether additional claims, reviews or investigations relating to our PBM business will be brought by states, the federal government or shareholder litigants, or government investigations; timing and extent of benefits from strategic value creation initiatives, including the possibility that these initiatives will not be successful, or will not be realized within the expected time periods; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; the exertion of management's time and our resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions; changes in expected closing dates, estimated purchase price and accretion for acquisitions; restrictions and limitations in connection with our indebtedness; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; availability of debt and equity financing, on terms that are favorable to us; inflation; foreign currency fluctuations and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission. 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SOURCE Centene Corporation
Released May 6, 2022