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Centene Corporation is a leading provider of government-sponsored healthcare services, focusing on improving health and healthcare for low-income, complex populations. The company operates through various segments, offering a range of healthcare programs and services, including Medicaid, Medicare, Commercial health insurance, and other healthcare-related services . Centene provides access to healthcare for nearly 1 in 15 individuals nationwide, emphasizing a local approach to delivering healthcare services .
- Medicaid - Offers programs such as Temporary Assistance for Needy Families (TANF), Medicaid Expansion, and the Children's Health Insurance Program (CHIP), among others.
- Commercial - Includes the Health Insurance Marketplace and various commercial health insurance products.
- Medicare - Covers Medicare Advantage, Dual Eligible Special Needs Plans (D-SNPs), and Medicare Prescription Drug Plans (PDPs).
- Other - Encompasses pharmacy operations, vision and dental services, and behavioral health, among others.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrew L. Asher Executive | Executive Vice President and CFO | None | Andrew L. Asher joined Centene in May 2021 as CFO, overseeing financial operations and compliance. | |
Christopher A. Koster Executive | EVP, Secretary, and General Counsel | None | Christopher A. Koster is EVP, Secretary, and General Counsel, confirmed by recent 8-K filings. | |
Katie N. Casso Executive | SVP, Corporate Controller, and CAO | None | Katie N. Casso has been with Centene since January 2016, promoted to her current role in April 2021, overseeing corporate accounting and financial reporting. | |
Kenneth J. Fasola Executive | President | None | Kenneth J. Fasola became President of Centene in December 2022, previously EVP of Health Care Enterprises. | |
Sarah M. London Executive | Chief Executive Officer | None | Sarah M. London has been the CEO of Centene since March 2022, focusing on cost savings, gross margin expansion, and member experience improvement. | View Report → |
Susan R. Smith Executive | Chief Operating Officer | None | Susan R. Smith became COO in January 2024, with prior experience at Humana Inc.. | |
Christopher J. Coughlin Board | Director | Director at Karuna Therapeutics, Inc. and Prestige Consumer Healthcare, Inc. | Christopher J. Coughlin joined the Board in January 2022, Chair of the Compensation and Talent Committee. | |
Frederick H. Eppinger Board | Chairman of the Board | CEO and Director of Stewart Information Services Company | Frederick H. Eppinger has been a Director since April 2006 and Chairman since March 2023, enhancing governance structure. | |
Jessica L. Blume Board | Director | Board Member at Publix Super Markets, Inc. | Jessica L. Blume joined the Board in February 2018, serving on the Audit and Compliance Committee and Chair of the Governance Committee. | |
Kenneth A. Burdick Board | Director | Chairman and CEO of LifeStance Health Group, Inc. | Kenneth A. Burdick has been a Director since January 2022, previously EVP of Markets and Products. | |
Monte E. Ford Board | Director | Principal Partner at CIO Strategy Exchange, Board Member at JetBlue, Iron Mountain, Akamai | Monte E. Ford joined the Board in November 2022, with extensive leadership in technology. | |
Theodore R. Samuels Board | Director | Board Member at Bristol Myers Squibb Company and Perrigo Company plc | Theodore R. Samuels joined the Board in January 2022, with experience in investment management and governance. | |
Thomas R. Greco Board | Director | Board Member at Tapestry, Inc. and Sabra Dipping Company LLC | Thomas R. Greco joined the Board in August 2024, former CEO of Advance Auto Parts, Inc.. | |
Wayne S. DeVeydt Board | Director | Managing Director at Bain Capital, Executive Chairman at Surgery Partners, Inc. | Wayne S. DeVeydt joined the Board in January 2022, Chairman of the Audit and Compliance Committee. |
- Could you elaborate on the sufficiency of the Medicaid rate adjustments you've received so far, and what steps are you taking if rates are still misaligned with the higher acuity of your post-redeterminations member base?
- Given the continued pressure on Medicaid margins from the mismatch of rates and acuity, how confident are you in your ability to grow adjusted EPS next year, and what are the key levers to achieve this growth?
- With the Medicare Advantage business expecting down membership in 2025 but aiming for margin recovery, can you explain how the recent changes in Star ratings and contract portfolio will translate into financial improvement?
- In your Marketplace business, you mentioned expectations for modest membership growth and mid-single-digit macro market growth; can you discuss the potential risks to achieving your target pretax margins given the program integrity enhancements and agent of record lock policies?
- Regarding the underlying utilization trends in Medicaid, especially in areas like behavioral health and home health, are you seeing any new pressures or emerging trends that could impact your medical loss ratio beyond what you've previously disclosed?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
State of New York | Medicaid managed care program | All | Contributed 10% of total revenue in 2021 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Magellan Health, Inc. | 2022 | The acquisition was completed on January 4, 2022 for approximately $2.6 billion in total consideration—$2.5 billion in cash plus $67 million in replacement equity awards. The deal was structured as a business combination to enhance Centene’s ability to deliver integrated healthcare solutions for complex, high-cost populations, with Magellan continuing to operate independently under Centene’s Health Care Enterprises umbrella. |
Recent press releases and 8-K filings for CNC.
- Centene Corporation filed an 8-K on May 6, 2025, reporting that its senior management will meet with investors to reaffirm its 2025 full year GAAP diluted EPS guidance floor of greater than $6.19 and adjusted diluted EPS floor of greater than $7.25.
- The filing includes standard forward-looking statements and risk disclosures regarding future operating and financial performance.
- The report was duly signed by Christopher A. Koster, Executive Vice President, Secretary and General Counsel.
- Q1 Performance: Centene delivered strong Q1 2025 results with GAAP diluted EPS of $2.63 and adjusted diluted EPS of $2.90, reflecting a 28% increase vs Q1 2024.
- Revenue Highlights: Total revenues reached $46.62B with premium and service revenue of approximately $42.5B, up 17% year-over-year.
- Guidance Update: The company maintained its full-year adjusted EPS guidance of > $7.25 and raised its full-year premium and service revenue guidance by $6.0B.
- Membership & Contract Wins: Significant membership gains with 29% increase in Marketplace and 22% in Medicare PDP, along with key Medicaid contract wins in Illinois and Nevada.
- Operational Focus: Management emphasized improved rate negotiations, margin recovery in Medicaid, and initiatives to manage excess medical expenses for future performance.
- Centene Corporation's subsidiary, SilverSummit Healthplan, has been selected by Nevada's Department of Health and Human Services for a five-year Medicaid managed care contract starting January 1, 2026 with a possible two-year extension.
- SilverSummit, serving over 100,000 Medicaid members since 2017, will expand its services—covering primary care, telehealth, pharmacy, maternal, and behavioral health—to rural and frontier areas.
- The company's Ambetter product was also selected as one of three bidders for the state's marketplace public option, initially covering 16,000 individuals.
- Meridian Health Plan of Illinois, a Centene subsidiary, has been selected by the Illinois Department of Healthcare and Family Services to provide Medicare and Medicaid services through a Fully Integrated Dual Eligible Special Needs Plan, starting January 1, 2026, with a potential total contract term of up to 10 years.
- The contract will support high-quality, integrated care for 77,000 dually eligible Illinoisans, including 60,000 Managed Long Term Services and Supports members beginning in 2027, reinforcing Centene's commitment to local, culturally sensitive healthcare services.
- Centene Corp reaffirmed its full year adjusted EPS floor guidance of >$7.25 for 2025 and projected Q1 adjusted EPS in the mid- to high 2s, noting impacts such as elevated flu costs in its Medicaid business.
- Leadership detailed active engagement with lawmakers on healthcare policy, discussing topics such as enhanced subsidies and Medicaid reforms (including a policy-based benchmark budget framework) to navigate regulatory challenges.
- Centene Corporation will present at the Barclays 27th Annual Global Healthcare Conference on March 12, 2025 at 2:30 p.m. EDT, during which it plans to reaffirm its 2025 adjusted diluted EPS guidance of greater than $7.25.
- The document includes extensive forward-looking statement disclosures outlining various risks and uncertainties that may impact future performance.