Centene Corporation - CNC STOCK NEWS

'Ohana Health Plan, a Centene (NYSE: CNC) company, has partnered with Hope Services Hawaii to launch a first-of-its-kind residential program for integrated clinical care in Hilo, Hawaii. The program features a six-bed facility exclusively for 'Ohana members experiencing homelessness with complex behavioral and medical needs.

The program provides comprehensive care including behavioral health case management, licensed BH clinician services, APRN medication management, and housing case managers. Members receive integrated, sustained clinical care and case management during an average one-year stay. The facility is located on County of Hawaii property, leased to Hope Services.

This innovative model aims to reduce emergency room visits and inpatient care expenses while improving overall health outcomes by providing concentrated access to care for vulnerable members.

Fidelis Care, a subsidiary of Centene (CNC) with over 2.4 million members in New York State, has expanded its Essential Plan coverage to Clinton County effective January 1, 2025. The plan targets individuals earning up to 250% of the Federal Poverty Line ($37,650 annual income for an individual) who may not qualify for Medicaid Managed Care.

The Essential Plan features include $0 monthly premiums, no deductibles, low out-of-pocket costs, dental and vision coverage with no copay, and free preventive care. Additional benefits encompass a fitness reimbursement program and access to Fidelis Care's statewide provider network. The expansion aims to provide affordable healthcare access to more New York State residents.

Centene (NYSE: CNC) has appointed Alan Silver as President of its Ambetter Health Solutions business, focusing on Individual Coverage Health Reimbursement Arrangements (ICHRA). This new leadership role reflects Centene's strategic focus on ICHRA growth, which allows employees to select individual Marketplace insurance plans using employer-provided tax-free stipends.

Silver brings over 20 years of leadership experience in benefits administration and actuarial consulting, previously leading retiree medical and ICHRA initiatives at Willis Towers Watson. The appointment aligns with Centene's vision of ICHRA as a cornerstone of their growth strategy, emphasizing transparency, customization, choice, and convenience in healthcare coverage.

Ambetter Health, which serves more than 4.5 million members in the individual market, aims to enhance ICHRA offerings to meet evolving market needs and drive greater adoption among employers and employees.

Health Net, a Centene (NYSE: CNC) company and Medi-Cal managed care health plan, has announced special assistance measures for members affected by the Palisades Fire and windstorm conditions in Los Angeles and Ventura Counties, following Governor Newsom's state of emergency declaration.

The company is implementing several support measures including: emergency prescription medication supplies from original pharmacies, 24/7 behavioral health services for crisis support, and free telehealth services when primary care providers are unreachable. Healthcare providers can receive assistance with emergency prescription refills, expedited approvals, and out-of-network treatment authorizations.

MHS Serves, a health equity program from Managed Health Services (MHS) and a Centene (NYSE: CNC) company, has announced a new funding opportunity focused on youth mental health initiatives. The Youth Mental Health Empowerment Program will support the expansion of programs addressing youth access to healthcare, mental health, and trauma-informed care.

In partnership with Indiana Minority Health Coalition and Black Onyx Management, the initiative aims to improve mental health resource access for historically underserved populations. Funding will support professional development, training, program implementation, technical assistance, infrastructure enhancement, and public awareness campaigns.

Applications open January 7, 2025, and close February 20, 2025. Information sessions will be held on January 16, January 29, and February 7, 2025. MHS, serving Indiana for over 25 years, operates various healthcare programs including Hoosier Healthwise, Hoosier Care Connect Medicaid, and the Healthy Indiana Plan.

Health Net, a Centene (NYSE: CNC) company and Medi-Cal managed care health plan, is providing emergency assistance to members affected by the Bird Flu in California following Governor Newsom's state of emergency declaration. The company is ensuring uninterrupted access to essential services through multiple initiatives:

Members can obtain emergency medication supplies from their original pharmacies, access 24/7 behavioral health support for grief and stress counseling, and utilize no-cost telehealth services when unable to reach primary care providers. Healthcare providers can receive assistance with emergency prescription refills, expedited approvals, and out-of-network treatment authorizations.

Superior HealthPlan, a Texas managed care organization and Centene (NYSE: CNC) subsidiary, has awarded a $25,000 grant to NAMI El Paso as part of its 25-year anniversary celebration. The grant will support mental health programs for children and youth in the El Paso area.

NAMI El Paso will use the funding to expand its youth outreach through free, evidence-based, 50-minute learning sessions for middle and high school students. Since 2020, Superior has provided over $600,000 in grant funding to hundreds of community organizations. The company is also offering additional $10,000 grants to be awarded in April 2025, with applications due by March 31, 2025.

NAMI El Paso, established in 1986, has grown from a grassroots organization to become a important part of the community's mental health support system, offering peer-led support groups, educational programs, and advocacy initiatives.

Centene (NYSE: CNC) has announced its 2025 financial guidance, projecting adjusted diluted EPS of greater than $7.25, representing over 6% year-over-year growth. The company also reaffirmed its 2024 adjusted diluted EPS guidance of greater than $6.80.

Key 2025 projections include: total revenues of $166.5-169.5 billion, premium and service revenues of $154.0-156.0 billion, health benefits ratio of 88.4-89.0%, and SG&A expense ratio of 8.1-8.7%. The company serves more than 28 million members and maintains its 2024 premium and service revenues guidance of $143.5-144.5 billion.

Centene (NYSE: CNC) has announced that its upcoming Investor Day will be held virtually on Thursday, December 12, 2024, at 8:30 a.m. Eastern Time. The change to a virtual format comes following the tragic loss of UnitedHealthcare's CEO Brian Thompson.

CEO Sarah M. London expressed condolences, noting Thompson's contributions to healthcare access and his impact on industry professionals. The virtual event will be accessible through a live webcast on Centene's website, with a replay available for 12 months following the presentation.