The Supreme Court ruled on Monday that the federal government must pay insurers $12 billion in risk corridor payments. The Affordable Care Act carved out the risk corridor program in 2014 to limit insurers’ profits and losses while creating the exchanges.
Centene CEO Michael Neidorff said the company would bring in more than $100 billion in revenue after its acquisition of WellCare, which boosted its membership to 24 million. Centene still has yet to give guidance for the combined company in 2020, but expects to share those numbers in March.
See how Quantum Health is providing the steps to help their members tackle the cost of specialty medications and other drugs.
The changes are expected to affect 1,467 health plans, increasing average annual costs by $1.07 million.
"Earlier concerns that the market would collapse or insurer exits would lead to counties with no coverage available at all have proven unfounded," the Kaiser Family Foundation wrote in an analysis.
The San Francisco-based startup has a new integration with CMS that allows users to choose benefits and apply for and receive subsidies directly in the company’s platform.