Kansas Picks UnitedHealth, Centene, Amerigroup for Medicaid

Date : 06/27/2012 @ 3:45PM
Source : Dow Jones News
Stock : Unitedhealth Grp. Incorporated (DE) (UNH)
Quote : 188.93  -1.82 (-0.95%) @ 4:00PM

Kansas Picks UnitedHealth, Centene, Amerigroup for Medicaid

UHC (NYSE:UNH)
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   By Jon Kamp 
 

The State of Kansas said Wednesday it has picked units of UnitedHealth Group Inc. (UNH), Centene Corp. (CNC) and Amerigroup Corp. (AGP) to cover Medicaid members starting Jan. 1, with a goal of saving more than $1 billion over five years.

The Kansas awards are the latest in a string of state partnerships with managed-care firms aimed at restraining costs and improving care in the health program for the poor, which is jointly paid for by states and the federal government.

According to a state press release, the awards for the three insurers followed "an extensive bidding and review process." The savings estimate is up from an original target of $853 million over five years when the state's "KanCare" Medicaid overhaul program was announced in November.

Amerigroup shares recently traded up 0.9% to $62.74 while UnitedHealth Group rose 0.9% to $59.34. Centene was down 0.3% at $30.22.

Write to Jon Kamp at jon.kamp@dowjones.com

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