Health
Centene Plunges as Medicaid View Disappoints Street
- Insurer sees key Medicaid cost gauge rising in third quarter
- CFO affirmed 2024 earnings guidance but said pace may be slow
Higher costs in the Medicaid business are being offset by strong performance in the company’s health insurance exchange segment.
Photographer: Charly Triballeau/AFP/Getty ImagesThis article is for subscribers only.
Centene Corp. shares fell the most in a year after the insurer released a projection for members in its Medicaid program that disappointed investors.
Membership in the joint state-federal health program for low-income people will be about 13 million this year, the insurer said at the Wells Fargo Healthcare Conference. The company had earlier forecast 13.6 million members by the end of 2024.