Centene Corporation - CNC STOCK NEWS

Centene (NYSE: CNC) announced that its subsidiary, Buckeye Health Plan, has been selected by the Ohio Department of Medicaid to continue providing Medicare and Medicaid services through a Fully Integrated Dual Eligible Special Needs Plan (FIDE SNP). The program will transition to Next Generation MyCare plans in January 2026, covering 29 counties initially with planned statewide expansion by 2027. Buckeye, one of four selected health plans, currently serves over 9,000 members across 12 counties. The new contract focuses on addressing healthcare barriers and social drivers of health. Additionally, Centene's Meridian Health Plan was selected for a similar program in Michigan.

AcariaHealth, a Centene specialty pharmacy, received multiple recognitions at the 2024 National Association of Specialty Pharmacy (NASP) Annual Meeting. Notable achievements include John Nguyen winning the NASP Specialty Pharmacist of the Year Award, while the company and two other team members were named finalists in their respective categories. The company also presented research findings on patient adherence through two poster abstracts focusing on improving therapy persistence and enhancing medication adherence in oncology. AcariaHealth's leadership team was featured in the NASP 2024 Spotlight Series podcast, discussing industry insights and patient care initiatives.

Ambetter of Illinois, a Centene product managed by Meridian Health Plan, has expanded its provider network by adding Advocate Health Care. This expansion gives Ambetter members immediate access to Advocate's 11 hospitals, 300 sites of care, 6,500 physicians, and 11,000 nurses in the Chicagoland area. Members can access various specialties including cancer care, heart & vascular care, orthopedics, and women's health. The network expansion is effective immediately for current members and those enrolling during the Open Enrollment period from November 1, 2024, through January 15, 2025.

Centene (NYSE: CNC) has been named to the 2024 Fortune 100 Best Large Workplaces for Women™ list, ranking 66th among large companies. This marks their second consecutive year on the list, recognizing their commitment to employee well-being, fair compensation, and growth opportunities for women.

Women comprise over 75% of Centene's workforce and hold a majority of people manager positions. The company's employee inclusion group, I.N.S.P.I.R.E, supports women through development sessions, mentoring, and community engagement. In 2024, I.N.S.P.I.R.E expanded to include dedicated parent groups supporting various life stages and family circumstances.

Health Net, a Medi-Cal managed care health plan and Centene (NYSE: CNC) subsidiary, has awarded $2 million in grants to 47 independent physician practices across California. The grants support the Department of Healthcare Services' Equity and Practice Transformation (EPT) Directed Payment Program. Recipient physicians report using the funds for various improvements including upgrading medical equipment, implementing electronic health records, hiring additional staff, and enhancing healthcare infrastructure. The initiative aims to improve healthcare access, reduce disparities, and enhance patient care quality across California communities.

Superior HealthPlan, a Centene (NYSE: CNC) managed care organization, has awarded $26,000 in grants to 13 Texas nonprofits and providers through its quarterly community grant program. The grants support various initiatives including food security, healthcare access, and education in low-income communities. Eight community organizations and four healthcare providers received funding for projects ranging from food pantries to medical equipment. Since 2020, Superior has distributed over $620,000 to more than 200 partners. The program will transition to an annual format in 2025, offering $10,000 grants with applications due March 31, 2025.

Centene (NYSE: CNC) reported third quarter 2024 results with adjusted diluted EPS of $1.62 and premium and service revenues of $36.9 billion, up 6% year-over-year. The company saw significant membership growth with 22% increase in Marketplace and 49% in Medicare Prescription Drug Plans. The health benefits ratio increased to 89.2% from 87.0% in Q3 2023. Centene executed $1.2 billion in share repurchases during Q3 and an additional $380 million in October. The company reaffirmed its 2024 adjusted diluted EPS guidance floor of greater than $6.80.

Health Net, a Centene company, has become the only health plan in the United States to receive the Health Equity Accreditation Plus (HEA+) certification from the National Committee for Quality Assurance (NCQA) across all lines of business, including Medicaid, Medicare, Commercial, and Exchange. This achievement makes Health Net one of only three health plans in California to ever earn this Accreditation.

The HEA+ focuses on collecting data on community social risk factors and patients' social needs to offer impactful social resources. Health Net has demonstrated excellence in three key areas:

• Establishing partnerships with community-based organizations
• Creating opportunities for patient and consumer engagement
• Improving social need referral processes and partnerships

Health Net's initiatives include awarding $2 million to California independent physician practices, addressing homelessness in Los Angeles County, offering no-cost mental telehealth services for eligible schoolchildren, and collaborating with the Black Birth Justice Coalition to reduce infant mortality rates.

Oklahoma Complete Health, a subsidiary of Centene (NYSE: CNC), has announced a $75,000 donation to the Foster Care Association of Oklahoma (FCAO) to support foster families. This investment will help grow the Foster Parent Mentoring Program, which has served 200 foster families since its creation in 2021. The program aims to support new foster families during their first 12 months.

Oklahoma Complete Health CEO Clay Franklin emphasized the importance of supporting community needs and enriching the lives of children in foster care. FCAO Executive Director Sarah Herrian highlighted the program's role in providing experienced support to new foster families. Since 2021, Oklahoma Complete Health has donated a total of $150,000 to launch and sustain this mentoring program.