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The headquarters of Centene Corporation, which houses the housing, is being showcased in Clayton, Missouri on Thursday, July 2, 2015. Centene has plunged into the group of care management companies that are striving to take care of themselves. scale as the health system overhaul changes their activities.ASSOCIATED PRESS
Fast-growing health insurer Centene plans to buy out WellCare's competing healthcare plans, according to the media.
WellCare shares surged after trading hours after reports by Bloomberg News and & nbsp; CNBC. WellCare shares have climbed 14% after trading hours on the New York Stock Exchange after a day when health insurance shares fell earlier news of the Trump administration wants the federal courts to cancel the entire Affordable Care Act.
Neither the leaders of Centene nor WellCare could be reached Tuesday night for comment.
Both health insurance companies have grown, particularly in the government-subsidized health care sector, but they are still much smaller than UnitedHealth Group, Cigna and Anthem.
Centene's US business led by Michael Neidorff, CEO, has grown rapidly thanks to the ACA and its subsidized individual coverage and the extension of Medicaid benefits to poor Americans. Centene now manages Medicaid benefits for more than 8 million euros for states and offers individual coverage on ACA public stock exchanges in 20 states.
Centene has nearly 2 million Obamacare customers and 20% market share after entering four new states in 2019 and expanding into six ACA markets where it was already selling individual coverage, including Anthem, Aetna and UnitedHealth Group.
Meanwhile, WellCare has also grown, but is still considered a regional player under the direction of its general manager Ken Burdick, even after. acquisition last year Meridian Health Plans of Illinois and Michigan and the Benefits Director of MeridianRx Pharmacy. The Meridian deal allowed WellCare to better manage the benefits of Medicaid, which have grown under the ACA.
But Centene and WellCare are increasingly moving into the potentially lucrative Medicare Advantage sector, which sells private health coverage to seniors through federal government contracts.
The Trump administration followed in the footsteps of the Obama administration by changing the rules to allow Medicare Advantage plans to cover more additional health benefits. Such rule changes should lead millions more seniors to choose Medicare Advantage plans over traditional Medicare.
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The headquarters of Centene Corporation, which houses the housing, is being showcased in Clayton, Missouri on Thursday, July 2, 2015. Centene has plunged into the group of care management companies that are striving to take care of themselves. scale as the health system overhaul changes their activities.ASSOCIATED PRESS
The rapidly growing health insurance company, Centene, plans to buy the rivals WellCare health plans, according to media reports.
WellCare shares surged after trading hours, following reports from Bloomberg News and CNBC. Shares of WellCare have risen 14% after trading hours on the NYSE after a day when health insurance shares fell earlier than Trump authority asks federal courts to overturn the law affordable care.
Neither the leaders of Centene nor WellCare could be reached Tuesday night for comment.
Both health insurance companies have grown, particularly in the government-subsidized health care sector, but they are still much smaller than UnitedHealth Group, Cigna and Anthem.
Centene's US business led by Michael Neidorff, CEO, has grown rapidly thanks to the ACA and its subsidized individual coverage and the extension of Medicaid benefits to poor Americans. Centene now manages Medicaid benefits for more than 8 million euros for states and offers individual coverage on ACA public stock exchanges in 20 states.
Centene has nearly 2 million Obamacare customers and 20% market share after entering four new states in 2019 and expanding into six ACA markets where it was already selling individual coverage, including Anthem, Aetna and UnitedHealth Group.
Meanwhile, WellCare has also grown, but is still considered a regional player under Ken Burdick's CEO, even after last year's acquisition of Meridian Health Plans from Illinois and Michigan. Benefits Manager MeridianRx Pharmacy. The Meridian deal allowed WellCare to better manage the benefits of Medicaid, which have grown under the ACA.
But Centene and WellCare are increasingly moving into the potentially lucrative Medicare Advantage sector, which sells private health coverage to seniors through federal government contracts.
The Trump administration followed in the footsteps of the Obama administration by changing the rules to allow Medicare Advantage plans to cover more additional health benefits. Such rule changes should lead millions more seniors to choose Medicare Advantage plans over traditional Medicare.