ST. LOUIS (AP) — Centene returned to profitable second-quarter as membership gains in several states helped the Medicaid provider offset a 19 percent rise in medical costs.
Enrollment climbed by more than 12 percent as the St. Louis company expanded its presence in Mississippi, gained members in Texas and added contracts in Kansas, Missouri and Washington.
People covered by Medicaid make up the largest portion of Centene's enrollment. Medicaid is the state and federally funded program that provides health coverage to poor and disabled people. States typically hire private insurers to administer the coverage.
The enrollment gains helped to push Centene's revenue up 29 percent to $2.73 billion. Premium and service revenues accounted for most of that at $2.63 billion.
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