Michael Neidorff, CEO of Centene Corp. is once again expanding sales of Obamacare into more states for 2020. He’s pictured here during a Bloomberg Television interview at the Allen and Co Media and Technology Conference in Sun Valley, Idaho, U.S., on
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Health insurer Centene is once again expanding its Obamacare footprint, adding 10 new states where it will sell subsidized individual coverage under the Affordable Care Act.
Centene, which already sells Obamacare to 1.9 million Americans across 20 states, will expand to Arizona, Florida, Georgia, Kansas, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Washington, the company’s CEO confirmed Tuesday.
“Centene takes pride in being the country’s largest provider of health insurance marketplace plans,” Centene chairman and chief executive Michael Neidorff said Tuesday in a statement. “The need for affordable, high-quality healthcare has never been more urgent, and we will continue to demonstrate disciplined execution, agility and capacity to successfully navigate industry changes to the benefit of our members, customers and shareholders.”
The announcement by Centene comes as insurers are reporting improving profit margins that in the early years of Obamacare were either flat or negative with some health plans retreating from certain markets or leaving the ACA’s exchanges all together.
“Our marketplace margins continue to be in the 5% to 10% range,” Neidorff told analysts last month during the company’s second-quarter earnings call. “We continue to anticipate another strong year of operations as the national leader of exchange products and expect to continue to grow this business in 2020.”
Centene’s decision to expand on the ACA’s exchanges in 2020 come a month