Centene sees higher-than-expected medical costs in Medicaid

By Thomson Reuters May 29, 2024 | 4:23 PM

(Reuters) – Centene said on Wednesday the health insurer had higher-than-expected claims receipts in April for the first quarter as well as April 2024, indicating continued medical costs in Medicaid.

Medicaid is the federal health program for low-income people and families in the United States.

Earlier in the day, shares of U.S. health insurers fell after UnitedHealth Group cited a near-term disturbance around reimbursement rates for Medicaid due to program-wide enrollment hurdles that began about a year ago.

Centene also said it expects to reaffirm the 2024 adjusted profit forecast of greater than $6.80.

(Reporting by Sneha S K in Bengaluru)