Centene is laying off around 3 percent of its workforce, and the company is continuing to offload its non-core business.
Here are seven updates on the St. Louis-based payer Becker's has reported since Sept. 5.
- Brunswick-based Southeast Georgia Health System will terminate its contract with Centene's WellCare Medicare Managed Care Plan on Dec. 8.
- Lawmakers sent letters to Centene and six other major Medicaid managed care providers, requesting they submit information on the rate of appeals and denials in their plans and information on any AI algorithms used in the prior authorization process.
- Centene was one of 11 payers named among Newsweek's 2023 America's Greatest Workplaces for Parents and Families.
- Magellan Health, a subsidiary of Centene, named Arthur Hennig as senior vice president and chief business officer for payer markets and Sara Pierce as senior vice president and chief business officer for the employer market.
- Centene is laying off about 2,000 employees, or about 3 percent of its workforce, starting Oct. 2 as the company faces financial difficulties over Medicaid redeterminations and Medicare Advantage star ratings.
- Centene sees an opportunity for disruption in the individual insurance market. At an investor conference, CEO Sarah London said over the long term, the individual marketplace is going to be the dominant way that consumers shop for health insurance.
- Centene is reportedly offloading its last U.K. businesses, continuing a strategy under CEO Sarah London of divesting from non-core businesses.