Centene still bullish on ACA exchanges despite legal challenges to the law

Legal challenges to the Affordable Care Act aren’t deterring Centene from their exchange business, officials said on Tuesday.  Centene Corporation’s ACA exchange enrollment grew by 52% to reach 1.5 million members in 2018, the insurer said during its quarterly earnings call, adding approximately 500,000 new enrollees. Following a strong open enrollment for 2019, Centene has reached a national market share of nearly 20% in the ACA exchanges, it said. And a Texas legal ruling from December that determined the law is unconstitutional isn’t holding back growth estimations, Centene CEO Michael Neidorff said on the call—it's “business as usual.” Centene reported about $16.6 billion in revenue for the fourth quarter and a total of about $60.1 billion for all of fiscal year 2018. The quarterly revenue represents a 29% increase compared to the fourth quarter of 2017, and Centene saw 24% growth in revenue year over year. The company also reported a boost from the integration of New York health plan Fidelis and overall membership growth of 1.8 million to 14 million nationwide, an increase of 15% from 2017.

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