Centene moves into exchange market in 40 counties in home state of Missouri

Centene Corporation is expanding its marketplace footprint in 2018 by offering exchange plans in 40 counties in Missouri, including 25 that would have been bare of coverage due to other insurers leaving the market.

Centene, located in St. Louis, Missouri, made the announcement Friday, but in June, had said it would expand its marketplace footprint by offering plans in Kansas, Missouri and Nevada in 2018. It also said it expand its coverage in six existing markets: Florida, Georgia, Indiana, Ohio, Texas, and Washington.

[Also: Centene to expand exchange footprint by offering plans in three additional states]

"Centene is proud to be headquartered in the state of Missouri. Our local Missouri health plan, Home State Health, has been proudly serving Medicaid members since 2012," said CEO and President Michael F. Neidorff. "We strive to be a responsible partner with the state and are committed to working closely with regulators and policymakers to collaborate on actions that stabilize the market and offer affordable coverage options."

As other insurers such as Anthem have been exiting the exchanges  citing losses and an unstable market, Centene has shown success.

[Also: Centene commits to ACA exchanges for 2018, basks in 69% revenue growth]

Between December 2016 and March 31, Centene grew its membership from 537,200 exchange members to 1.2 million. Ninety percent of these consumers are eligible for subsidies.

During the first quarter, Centene reported $197 million in net earnings, compared to $96 million during the first three months of 2016. Total revenues for the first quarter were $11.7 billion, a 69 percent increase compared to the first quarter of 2016.

[Also: Uncertainty over insurance marketplaces grows as payers exit ACA exchanges]

Its second quarter financial results will be released on Tuesday, July 25.

Twitter: @SusanJMorse