ST.
LOUIS, Sept. 15, 2022 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) announced today that its Texas subsidiary, Superior HealthPlan
(Superior), will continue to provide children and youth in foster
care with healthcare coverage through the STAR Health Medicaid
program. A new six-year contract was awarded to Superior by the
Texas Health and Human Services Commission (HHSC). Superior has
been the sole provider of STAR Health coverage since the program
launched in 2008.
"We are pleased to continue our partnership with the state to
help build a healthier Texas,"
said Brent Layton, Centene's
President and Chief Operating Officer. "Together with our network
of local providers and community partners, we are humbled to
coordinate services and address the complex medical and non-medical
needs of members in the foster care system."
In collaboration with Texas HHSC and the Department of
Family & Protective Services, Superior became the first managed
care organization in the country in 2008 to provide statewide
Medicaid coverage to children in foster care. Since that time,
Superior has relied on a collaborative approach to healthcare,
spearheading several initiatives to better serve these members,
including Superior's Foster Care Center of Excellence program, the
Health Passport tool, and the Turning Point Program.
"Superior is honored to be entrusted with providing
comprehensive healthcare and support to children and youth in
foster care," said Mark Sanders,
President and CEO of Superior HealthPlan. "For 14 years, we have
served this vulnerable population and will continue to work each
day to ensure they receive access to quality and holistic
healthcare."
In partnership with HHSC, Superior has served individuals
enrolled in Medicaid since 1999. The organization also focuses on
providing quality healthcare coverage for underinsured and
uninsured individuals through its federal insurance marketplace
plan, Ambetter. Additionally, Superior provides insurance for the
Medicare population through its Medicare Advantage plan,
Wellcare.
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 nearly 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, the
TRICARE program, and individuals in correctional facilities. The
Company also serves several international markets, and 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, https://investors.centene.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 (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 future operating or
financial performance, market opportunity, value creation strategy,
competition, expected activities in connection with completed and
future acquisitions and dispositions, including statements about
the impact of our recently completed acquisition of Magellan
Health, Inc. (the Magellan Acquisition), other recent 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 accurately predict
and effectively manage health benefits and other operating expenses
and reserves, including fluctuations in medical utilization rates
due to the ongoing impact of COVID-19; the risk that the election
of new directors, changes in senior management, and any inability
to retain key personnel may create uncertainty or negatively impact
our ability to execute quickly and effectively; uncertainty
as to the expected financial performance of the combined company
following the recent completion of the Magellan Acquisition; the
possibility that the expected synergies and value creation from the
Magellan Acquisition or the acquisition of WellCare Health Plans,
Inc. (the WellCare Acquisition) or other acquired businesses will
not be realized, or will not be realized within the respective
expected time periods; disruption from the integration of the
Magellan Acquisition or the WellCare Acquisition, unexpected costs,
or similar risks from other acquisitions or dispositions we may
announce or complete from time to time, including potential adverse
reactions or changes to business relationships with customers,
employees, suppliers or regulators, making it more difficult to
maintain business and operational relationships; the risk that the
closing conditions, including applicable regulatory approvals, for
the pending dispositions of Magellan Rx and our Spanish and Central
European businesses, may be delayed or not obtained; impairments to
real estate, investments, goodwill and intangible assets; a
downgrade of the credit rating of our indebtedness; competition;
membership and revenue declines or unexpected trends; changes in
healthcare practices, new technologies, and advances in medicine;
increased healthcare costs; changes in economic, political or
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 that may
result from changing political conditions, the new administration
or judicial actions; rate cuts or other payment reductions or
delays by governmental payors and other risks and uncertainties
affecting our government businesses; our ability to adequately
price products; tax matters; disasters or major epidemics; changes
in expected contract start dates; provider, state, federal, foreign
and other contract changes and timing of regulatory approval of
contracts; the expiration, suspension, or termination of our
contracts with federal or state governments (including, but not
limited to, Medicaid, Medicare, TRICARE or other customers); the
difficulty of predicting the timing or outcome of legal or
regulatory proceedings or matters, including, but not limited to,
our ability to resolve claims and/or allegations made by states
with regard to past practices, including at Envolve Pharmacy
Solutions, Inc. (Envolve), as our pharmacy benefits manager (PBM)
subsidiary, within the reserve estimate we recorded in 2021 and on
other acceptable terms, or at all, or whether additional claims,
reviews or investigations relating to our PBM business will be
brought by states, the federal government or shareholder litigants,
or government investigations; the timing and extent of benefits
from strategic value creation initiatives, including the
possibility that these initiatives will not be successful, or will
not be realized within the expected time periods; challenges to our
contract awards; cyber-attacks or other privacy or data security
incidents; the exertion of management's time and our resources, and
other expenses incurred and business changes required in connection
with complying with 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 and accretion for acquisitions or
dispositions; restrictions and limitations in connection with our
indebtedness; 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; the availability of
debt and equity financing on terms that are favorable to us;
inflation; foreign currency fluctuations; and risks and
uncertainties discussed in the reports that Centene has filed with
the Securities and Exchange Commission. 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 Securities and Exchange
Commission (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.
View original
content:https://www.prnewswire.com/news-releases/centenes-texas-subsidiary-announces-successful-reprocurement-of-foster-care-contract-301625824.html
SOURCE Centene Corporation