Health
Health Insurers Flash Warnings Over Unexpected Medical Costs
- Centene says Medicaid business came under pressure in April
- Uncertainty is heightened in wake of Change Healthcare hack
This article is for subscribers only.
US health insurers say their profits are being squeezed because states stripped Medicaid benefits from millions of people after the pandemic.
Centene Corp. said Friday that having fewer people in its Medicaid business has reduced the pool of money the company has to pay for medical expenses, which are going up. “We are seeing pressure in our Medicaid book of business in April results,” Chief Executive Officer Sarah London said at Bernstein’s Strategic Decisions Conference.