News Formal

Centene warns of hit to fast-growing Medicare Advantage business next year

  • 📰 Reuters
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Centene Corp on Tuesday said profit at its fast-growing Medicare Advantage (MA) business will take a beating in 2024 due to a sharp cut in its rating by a U.S. federal agency and likely lower-than-expected government payouts to health insurers.

Centene does not expect its MA business to grow next year and it will likely "shrink a little", Chief Financial Officer Andrew Asher said in a post-earnings conference call.

Asher said the company expects negative profit margins in the business in 2024 temporarily, after CMS cutMA plans are government-supported insurance plans that private companies offer people over 65 years of age. In the fourth quarter, Centene reported an adjusted profit of 86 cents per share, beating Wall Street estimates by a cent.

The company said its quarterly health benefits ratio, which measures medical costs in relation to premiums collected, stood at 88.7%, better than estimates of 88.8%, according to six analysts polled by Refinitiv. Revenue from Centene's Medicare health insurance business rose about 24% to $5.45 billion from a year earlier.Our Standards:

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 2. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Bitcoin Miners Hut 8, US Bitcoin Corp. Announce MergerBitcoin mining firms Hut8Mining and U.S. Bitcoin Corp. are merging to form a new company with access to 825 MW of energy. Egreechee reports Hut8Mining egreechee Mining is evolving 🚨 Hut8Mining egreechee Mining firms will propel us towards a renewable energy future Hut8Mining egreechee 🌍💖🌎
출처: CoinDesk - 🏆 291. / 63 더 많은 것을 읽으십시오 »