Centene Aquires Health Net ? Who is Centene?
- Thread starter toddoxley
- Start date
Apparently a Medicaid carrier, who wanted Health Net for the Medicaid block. I wonder if they will keep the IFP and Small Group block?
Dontcha just love news about carrier compression, merger/acquisition and exiting a market? I guess we all heard it was coming.......
By the way, University Health Plans exited the Arizona market last week, too.
Dontcha just love news about carrier compression, merger/acquisition and exiting a market? I guess we all heard it was coming.......
By the way, University Health Plans exited the Arizona market last week, too.
- Thread starter
- #3
Yes, Centene appears to be focused on the Medicare/Medicaid market. Will be interesting to see if Centene will maintain a presence in the indy / group health market after the aquisition is complete. With carrier compression occuring due to reform I think we will see Health Net exit the " non-medicare/medicaid" market.
- 8,448
In addition to 10+ other holdings, Centene also owns Celtic Insurance Company.
Centene Celtic Insurance Company » Centene
Celtic was a really nice IFPlan company with liberal underwriting before Centene swallowed them up in 2009 and huge premium increases followed. ObamaCare has pretty much killed-off Celtic here in the Midwest. Only off-exchange, and premiums are out of this world. Makes one wonder why Centene doesn't just sell or shut-down Celtic.
Centene Celtic Insurance Company » Centene
Celtic was a really nice IFPlan company with liberal underwriting before Centene swallowed them up in 2009 and huge premium increases followed. ObamaCare has pretty much killed-off Celtic here in the Midwest. Only off-exchange, and premiums are out of this world. Makes one wonder why Centene doesn't just sell or shut-down Celtic.
- 4,716
Look folks this M & A (mergers and acquisitions) business is going on in ALL industries right now. Chill on the One Insurance Company Boogeyman phobia.
We go through cycles in this country, we have cycles of consolidation and we have cycles of expansion.
We go through cycles in this country, we have cycles of consolidation and we have cycles of expansion.
Your head is in the sand-our business depends on competition and each time there is a reduction in competition there is a reduction in the need for agents, hence lower commissions.
With Assurant already leaving all it is going to take is a merger involving Humana to really hurt the IFP business for agents in states where representing Anthem/Blue Cross isn't an option (assuming the local Anthem pays reasonable commissions).
I've stayed with the IFP business in spite of the early warning signs in 2010 and, like many of us, have been rewarded with two exceptional years of income-that is not going to continue much beyond 2016 (if we actually make it through 2016 unscathed).
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