STAT+: Centene\u2019s stock plummets as health insurance giant scraps 2025 financial outlook
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Centene has withdrawn its financial guidance for the rest of the year after receiving data that showed its health insurance members in Affordable Care Act plans are getting a lot more care than the company had anticipated.<\/p>\n
The company is also seeing a \u201cstep-up\u201d in medical costs among its Medicaid enrollees. Centene\u2019s stock plummeted 23% <\/strong>in after-hours trading Tuesday.<\/p>\n The surprise disclosure may be just the beginning of problems for Centene and other insurers that rely heavily on government health care enrollees. Centene gets a majority of its revenue from ACA and Medicaid plans. Despite Centene\u2019s pleas to Republicans<\/a> not to cut the taxpayer-funded programs, Republicans are advancing a bill<\/a> that would result in the largest cut ever to Medicaid.\u00a0<\/p>\n Continue to STAT+ to read the full story\u2026<\/a><\/p>\n<\/div>\n