Form 10-Q · Quarterly report
Centene Corporation 10-Q, filed Jul 28, 2026
- Filed
- CIK
- 0001071739
- Accession no.
- 0001071739-26-000153
Summary
Centene Corporation said elevated medical cost trends and recent U.S. healthcare policy shifts are pressuring its Medicaid and Health Insurance Marketplace business, and it expects California's move of its Unsatisfactory Immigration Status Medi-Cal population to fee-for-service to cut membership and premium revenue from 2027. The company also flagged uncertainty from the One Big Beautiful Bill Act's Medicaid work and redetermination requirements, the expiration of enhanced Marketplace premium tax credits, and litigation over the CMS work-requirement rule.
Key points
- Centene attributed its elevated medical cost trend to rising medical demand, state-level expansions of access such as carve-ins for behavioral health and home- and community-based services, and the release of new high-cost pharmaceuticals.
- Centene expects roughly 250,000 of its Health Net Medi-Cal members to be affected when California transitions its Unsatisfactory Immigration Status population from managed care to fee-for-service on January 1, 2027.
- On June 29, 2026, a coalition of 26 states challenged CMS's June 3, 2026 interim final rule implementing Medicaid work requirements, seeking to block provisions it alleges are unlawful.
- Centene said the expiration of enhanced Advance Premium Tax Credits, together with the Marketplace Integrity and Affordability Final Rule, reduced its 2026 Marketplace membership in the first half of the year compared with 2025.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management's Discussion EXECUTIVE OVERVIEW General We are a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach with local teams to provide fully integrated, high-quality and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to more than 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans (PDPs) as well as individuals and families served by the Health Insurance Marketplace. …
An excerpt of the text as filed with the SEC, cut for length.
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