Centene Corporation's Celtic Unit Renews Commonwealth Care Contract
ST. LOUIS, April 9 /PRNewswire-FirstCall/ -- Centene Corporation (NYSE: CNC) today announced that the Massachusetts Health Connector has renewed its contract with Celtic Group's subsidiary, CeltiCare Health Plan of Massachusetts (CeltiCare), to serve Commonwealth Care members, effective July 1, 2010.
Under the new contract, CeltiCare will continue to be the lowest-cost health plan option for low-income, working adults (up to 300% of the federal poverty level) enrolled in the Commonwealth Care program.
"CeltiCare is pleased to have the opportunity to continue offering high-quality healthcare services at the best value to Massachusetts residents," said CeltiCare President and Chief Executive Officer Richard D. Lynch. "We are proud to be a part of this unique state 'exchange' that ensures formerly uninsured individuals have affordable access to comprehensive healthcare coverage."
The financial impact of the renewal of the Commonwealth Care contract was already assumed in Centene's 2010 financial guidance.
About Centene Corporation
Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to the rising number of under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and long-term care, in addition to other state-sponsored programs, and Medicare (Special Needs Plans). Centene's CeltiCare subsidiary offers states unique, "exchange-based" and other cost-effective coverage solutions for low-income populations. The Company operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, managed vision, telehealth services, and pharmacy benefits management. More information regarding Centene is available at www.centene.com.
SOURCE Centene Corporation
Released April 9, 2010