Centene Enters NY Market by Buying Fidelis Care for $3.75B

Discussion in 'Senior Insurance Forum' started by Brian Anderson, Sep 13, 2017.

  1. Brian Anderson
    Offline

    Brian Anderson Executive Editor Moderator

    Posts:
    539
    Likes Received:
    5
    State:
    Colorado
    From today's USA Today

    Centene, the nation's largest Medicaid managed care plan provider, agreed Tuesday to buy Fidelis Care for about $3.75 billion, a move to enter the lucrative New York state market.

    Under the deal, Fidelis, which sells health insurance plans to New York state residents and has 1.6 million members, will become Centene's health plan in the state.

    The acquisition allows Centene, based in St. Louis, to have a sizable presence in the country's four largest states in health insurance membership – California, Florida, New York and Texas.

    Centene specializes in Medicaid managed care plans, which are the private-market option for Medicaid recipients. Medicaid, funded by the federal and state governments, is a government health program for low-income Americans and also runs its own public option.

    Fidelis offers state plans in Medicaid, Qualified Health Plans, Child Health Plus and Essential Plan, as well as the national programs in Medicare Advantage, Dual Advantage and Managed Long Term Care. It had revenue of $4.8 billion in the first six months of the year.


    More at the link:

    https://www.usatoday.com/story/money/2017/09/13/centene-health-insurer-markets-under-insured-and-uninsured-consumers-agreed-tuesday-buy-fidelis-care/661512001/
     
  2. JaBrooklyn
    Offline

    JaBrooklyn Expert

    Posts:
    47
    Likes Received:
    1
    State:
    New York
    Interesting. Fidelis had some competitive LIS plans in Nyc last year.
     
Loading...

Share This Page