CENTENE SUBSIDIARY ARIZONA COMPLETE HEALTH AWARDED STATEWIDE LONG-TERM CARE MEDICAID CONTRACT

Rhea-AI Summary

Centene Corporation (NYSE: CNC) has been selected by the Arizona Health Care Cost Containment System to provide managed care for the Arizona Long Term Care System, supporting nearly 26,000 elderly and/or physically disabled Arizonans. The contract is a three-year term with four optional one-year extensions, totaling seven possible contract years.

Positive

• Centene's subsidiary, Arizona Complete Health, has been chosen to provide managed care for the Arizona Long Term Care System, showcasing the company's expertise in the healthcare industry.
• The contract is a significant opportunity for Centene to expand its efforts in making a positive impact on the lives of ALTCS-E/PD members across Arizona.
• The program supports nearly 26,000 Arizonans who are elderly and/or have a physical disability with physical and behavioral healthcare, as well as provides pharmacy benefits.

Negative

• None.

ST. LOUIS, Dec. 1, 2023 /PRNewswire/ -- Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to helping people live healthier lives, announced today that its subsidiary, Arizona Complete Health, the largest Medicaid health plan in Arizona, has been selected by the Arizona Health Care Cost Containment System (AHCCCS) – Arizona's single state Medicaid agency – to provide managed care for the Arizona Long Term Care System (ALTCS). The program supports nearly 26,000 Arizonans who are elderly and/or have a physical disability (E/PD) with physical and behavioral healthcare, as well as provides pharmacy benefits.

"It is a privilege to be selected for this important contract, and we look forward to continuing to work with the state and our provider partners to support the health and health care needs of Medicaid members," said Centene Chief Executive Officer, Sarah M. London. "We have proudly served AHCCCS members since 2006 and today serve more than 460,000 members statewide. We are honored to expand our efforts to make a positive impact on the lives of ALTCS-E/PD members across Arizona," said London.

ALTCS is one of the oldest Medicaid managed long-term services and supports programs in the country, providing integrated physical health, behavioral health and long-term services and support to individuals in Arizona. The program places a special emphasis on home- and community-based services that support members' ability to live independently to the greatest extent. 

"It is an honor to have been selected to lead ALTCS-E/PD programs across Arizona," said Arizona Complete Health Plan President and CEO Martha Smith. "Our mission is to transform the health of our communities, one person at a time and to continue to work with our local and statewide partners to meet the unique healthcare needs of Arizonans to help them live healthier lives."

The ALTCS-E/PD contract will begin on Oct. 1, 2024, and is a three-year term with four optional one-year extensions, for a total of seven possible contract years.

About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace and the TRICARE program. The Company also contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and value creation as well as the development of its people, systems and capabilities so that it can better serve its members, providers, local communities and government partners.   

Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, http://investors.centene.com.

About Arizona Complete Health 
Arizona Complete Health, a wholly owned subsidiary of Centene Corporation, provides and administers health benefits through individual, Medicaid, Medicare and dual-eligible programs. Arizona Complete Health offers two Medicaid programs – Arizona Complete Health-Complete Care Plan serving Southern and Central Arizona and Care1st Health Plan serving Northern Arizona – as well as Medicare Advantage coverage through its Wellcare program and Marketplace coverage through Ambetter from Arizona Complete Health. For more information on Arizona Complete Health, please visit the company's website at www.azcompletehealth.com.

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SOURCE Centene Corporation

FAQ

What is the name of the company mentioned in the press release and its ticker symbol?

Centene Corporation (NYSE: CNC) is the company mentioned in the press release.

What is the contract about?

The contract is about providing managed care for the Arizona Long Term Care System, supporting nearly 26,000 elderly and/or physically disabled Arizonans.

When will the ALTCS-E/PD contract begin?

The ALTCS-E/PD contract will begin on Oct. 1, 2024, and is a three-year term with four optional one-year extensions, for a total of seven possible contract years.