Centene Corporation Awarded Kansas Medicaid Contract
ST. LOUIS, June 27, 2012 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that the state of Kansas has awarded its subsidiary, Sunflower State Health Plan, a statewide contract to serve Medicaid beneficiaries in Kansas. Pending regulatory approval, operations are expected to commence on January 1, 2013.
Under the contract, Sunflower State Health Plan will serve members in the state's KanCare program, which includes Temporary Assistance for Needy Families (TANF), eligible pregnant women, Aged, Blind or Disabled (ABD) and long-term care beneficiaries; and in the Children's Health Insurance Program (CHIP).
"KanCare is an exciting opportunity that is well aligned with Centene's philosophy of providing fully integrated care as it encompasses all aspects of health services, including physical, behavioral, pharmacy and long-term care", said Jesse Hunter, Executive Vice President of Operations for Centene. "Kansas is the 18th state in which we have entered. We look forward to creating a partnership with the state and its stakeholders, including providers, advocates and other community organizations that will result in improved health outcomes and quality of life for the state's most vulnerable residents."
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading multi-line healthcare enterprise that provides programs and related services to the rising number of under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and long-term care, in addition to other state-sponsored programs, and Medicare (Special Needs Plans). Centene's CeltiCare subsidiary offers states unique, "exchange based" and other cost-effective coverage solutions for low-income populations. The Company operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, managed vision, telehealth services, and pharmacy benefits management. More information regarding Centene is available at www.centene.com.
The information provided in this press release contains forward-looking statements that relate to future events and future financial performance of Centene. Subsequent events and developments may cause the Company's estimates to change. The Company disclaims any obligation to update this forward-looking financial information in the future. Readers are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, regulatory, competitive and other factors that may cause Centene's or its 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. Actual results may differ from projections or estimates due to a variety of important factors, including Centene's ability to accurately predict and effectively manage health benefits and other operating expenses, competition, membership and revenue projections, timing of regulatory contract approval, changes in healthcare practices, changes in federal or state laws or regulations, changes in expected contract start dates, inflation, provider and state contract changes, new technologies, reduction in provider payments by governmental payors, major epidemics, disasters and numerous other factors affecting the delivery and cost of healthcare, as well as those factors disclosed in the Company's publicly filed documents. The expiration, cancellation or suspension of Centene's Medicaid Managed Care contracts, or the loss of any appeal of or protest to any such expiration, cancellation or suspension, by state governments would also negatively affect Centene.
SOURCE Centene Corporation