ST. LOUIS, Sept. 10 /PRNewswire/ -- Centene Corporation
(NYSE: CNC) today announced its subsidiary, Celtic Insurance
Company, Inc. (Celtic), has signed a contract with the Texas
Department of Insurance (TDI) to provide affordable health
insurance plans for Texas small
businesses under the new Healthy Texas initiative.
"Healthy Texas utilizes a state-funded reimbursement mechanism
known as the Premium Stabilization Fund (PSF) to reduce insurance
premiums for small employers who have 30 percent or more of their
workforce earning less than 300 percent of the federal poverty
limit," explained Frederick Manning,
Celtic President and Chief Executive Officer. "Thanks to this
program, the Texas small
businesses that have been priced out of the existing insurance
market will have an affordable means to provide comprehensive
health coverage to their employees and their families."
Texas joins Arkansas and Massachusetts as the third market in which
Centene partners with its state customers to provide affordable
health solutions to those who lack access to traditional private
and public health insurance. "Healthy Texas further demonstrates,
in our largest market, Centene's ability to execute a "hybrid"
strategy that provides states with effective solutions to expand
coverage to their respective under- and uninsured communities."
said Centene Chairman and Chief Executive Officer Michael F. Neidorff.
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 Children's Health Insurance Program (CHIP), as well
as Aged, Blind or Disabled (ABD), Foster
Care, long-term care, 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.
SOURCE Centene Corporation
Copyright . 10 PR Newswire