ST.
LOUIS, Oct. 14, 2024 /PRNewswire/ -- Centene
Corporation (NYSE: CNC), a leading healthcare enterprise
committed to helping people live healthier lives, announced today
that its subsidiary, Meridian Health Plan of Michigan, Inc. ("Meridian"), has been
selected by the Michigan Department of Health and Human Services
(MDHHS) to provide highly integrated Medicare and Medicaid services
for dually eligible Michiganders through a Highly Integrated Dual
Eligible Special Needs Plan (HIDE SNP). The plan will launch on
Jan. 1, 2026, when Michigan's MI Health Link pilot program
transitions from a Medicare-Medicaid Plan (MMP) to MI Coordinated
Health, a HIDE SNP in coordination with the Centers for Medicare
and Medicaid Services (CMS).
"With this award, Meridian will continue delivering critical
support and care to high-need Michiganders," said Centene Chief
Executive Officer, Sarah M. London.
"We are honored to have the opportunity to work with MDHHS and CMS
to remove barriers to care and connect members with the healthcare,
social and community services needed for Michigan's most vulnerable and underserved
populations."
Meridian is one of nine managed care organizations selected to
deliver high-quality healthcare to Michiganders through the HIDE
SNP program. Meridian currently serves more than 540,000 members in
Michigan, including approximately
6,000 MMP members and over 13,500 Medicare Dual Eligible Special
Needs (D-SNP) members. With CMS sunsetting the MMP product in all
states at the end of 2025, Meridian's HIDE SNP product will ensure
continuity of care for our members and enhanced care for many
others by meeting the needs of those dually eligible for Medicare
and Medicaid – integrating long-term services and supports and
simplifying services for dual enrollees.
"We look forward to working with the state to continue providing
highly integrated care to our more than 540,000 members," said
Meridian Plan President, Patty
Graham. "Through our partnership with community groups,
providers and other community-based health organizations, we are
proud to deliver whole health and culturally sensitive solutions."
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
more than 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 Meridian
Meridian in Michigan provides
government-sponsored managed care services to families, children,
seniors and individuals with complex medical needs primarily
through Medicaid (Meridian), Medicare Advantage and Medicare
Prescription Drug Plans (Wellcare), Medicare-Medicaid Plans
(MeridianComplete) and the Health Insurance Marketplace (Ambetter
from Meridian). Meridian is a Centene Corporation company, a
leading healthcare enterprise committed to helping people live
healthier lives. For more information about Meridian, please visit
mimeridian.com/.
Forward-Looking Statements
All statements,
other than statements of current or historical fact, contained in
this press release are forward-looking statements. Without limiting
the foregoing, forward-looking statements often use words such as
"believe," "anticipate," "plan," "expect," "estimate," "intend,"
"seek," "target," "goal," "may," "will," "would," "could,"
"should," "can," "continue" and other similar words or expressions
(and the negative thereof). Centene Corporation and its
subsidiaries (Centene, the Company, our or we) intends such
forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and we are including this
statement for purposes of complying with these safe-harbor
provisions. In particular, these statements include, without
limitation, statements about our expected contract start dates and
terms, our future operating or financial performance, market
opportunity, competition, expected activities in connection with
completed and future acquisitions and dispositions, our investments
and the adequacy of our available cash resources. These
forward-looking statements reflect our current views with respect
to future events and are based on numerous assumptions "
and assessments made by us in light of our experience and
perception of historical trends, current conditions, business
strategies, operating environments, future developments and other
factors we believe appropriate. By their nature, forward-looking
statements involve known and unknown risks and uncertainties and
are subject to change because they relate to events and depend on
circumstances that will occur in the future, including economic,
regulatory, competitive and other factors that may cause our or our
industry's actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance, or achievements expressed or
implied by these forward-looking statements. These statements are
not guarantees of future performance and are subject to risks,
uncertainties and assumptions. All forward-looking statements
included in this press release are based on information available
to us on the date hereof. Except as may be otherwise required by
law, we undertake no obligation to update or revise the
forward-looking statements included in this press release, whether
as a result of new information, future events, or otherwise, after
the date hereof. You should not place undue reliance on any
forward-looking statements, as actual results may differ materially
from projections, estimates, or other forward-looking statements
due to a variety of important factors, variables and events
including, but not limited to: our ability to design and price
products that are competitive and/or actuarially sound including
but not limited to any impacts resulting from Medicaid
redeterminations; our ability to maintain or achieve improvement in
the Centers for Medicare and Medicaid Services (CMS) Star ratings
and maintain or achieve improvement in other quality scores in each
case that can impact revenue and future growth; our ability to
accurately predict and effectively manage health benefits and other
operating expenses and reserves, including fluctuations in medical
utilization rates; competition, including for providers, broker
distribution networks, contract reprocurements and organic growth;
our ability to adequately anticipate demand and provide for
operational resources to maintain service level requirements; our
ability to manage our information systems effectively; disruption,
unexpected costs, or similar risks from business transactions,
including acquisitions, divestitures, and changes in our
relationships with third parties; impairments to real estate,
investments, goodwill, and intangible assets; changes in senior
management, loss of one or more key personnel or an inability to
attract, hire, integrate and retain skilled personnel; membership
and revenue declines or unexpected trends; rate cuts or other
payment reductions or delays by governmental payors and other risks
and uncertainties affecting our government businesses; changes in
healthcare practices, new technologies, and advances in
medicine; our ability to effectively and ethically use
artificial intelligence and machine learning in compliance with
applicable laws; increased healthcare costs; inflation
and interest rates; the effect of social, economic, and political
conditions and geopolitical events, including as a result of
changes in U.S. presidential administrations or Congress; changes
in market conditions; changes in federal or state laws or
regulations, including changes with respect to income tax reform or
government healthcare programs as well as changes with respect to
the Patient Protection and Affordable Care Act and the Health Care
and Education Affordability Reconciliation Act (collectively
referred to as the ACA) and any regulations enacted thereunder;
uncertainty concerning government shutdowns, debt ceilings or
funding; tax matters; disasters, climate-related incidents, acts of
war or aggression or major epidemics; changes in expected contract
start dates and terms; changes in provider, broker, vendor, state,
federal, and other contracts and delays in the timing of regulatory
approval of contracts, including due to protests; the expiration,
suspension, or termination of our contracts with federal or state
governments (including, but not limited to, Medicaid, Medicare or
other customers); the difficulty of predicting the timing or
outcome of legal or regulatory audits, investigations, proceedings
or matters, including, but not limited to, our ability to resolve
claims and/or allegations made by states with regard to past
practices on acceptable terms, or at all, or whether additional
claims, reviews or investigations will be brought by states, the
federal government or shareholder litigants, or government
investigations; challenges to our contract awards; cyber-attacks or
other data security incidents or our failure to comply with
applicable privacy, data or security laws and regulations;
the exertion of management's time and our resources, and other
expenses incurred and business changes required in connection with
complying with the terms of our contracts and the undertakings in
connection with any regulatory, governmental, or third party
consents or approvals for acquisitions or dispositions; any changes
in expected closing dates, estimated purchase price, or accretion
for acquisitions or dispositions; losses in our investment
portfolio; restrictions and limitations in connection with our
indebtedness; a downgrade of our corporate family rating, issuer
rating or credit rating of our indebtedness; the availability of
debt and equity financing on terms that are favorable to us and
risks and uncertainties discussed in the reports that Centene has
filed with the Securities and Exchange Commission (SEC). This list
of important factors is not intended to be exhaustive. We discuss
certain of these matters more fully, as well as certain other
factors that may affect our business operations, financial
condition, and results of operations, in our filings with the SEC,
including our annual report on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K. Due to these important
factors and risks, we cannot give assurances with respect to our
future performance, including without limitation our ability to
maintain adequate premium levels or our ability to control our
future medical and selling, general and administrative
costs.
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SOURCE Centene Corporation