Centene
Centene Corporation is a leading managed care organization focused on providing high-quality, affordable healthcare solutions to underserved and low-income populations. The company operates as an intermediary between government programs and healthcare providers, leveraging a local approach to manage health outcomes for members in Medicaid, Medicare, and the Health Insurance Marketplace. Its core value proposition lies in its scale, data-driven care management, and ability to address social determinants of health through community-based partnerships.
Financials
Based on Q1 2026 filing
Revenue
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Medicaid
primaryThe company's largest segment, providing health insurance to low-income families and individuals with disabilities through state-funded programs. It covers various populations including TANF, CHIP, and those requiring long-term services and supports.
Temporary Assistance for Needy Families (TANF), Children's Health Insurance Program (CHIP), Aged, Blind or Disabled (ABD) program, Long-Term Services and Supports (LTSS), Foster Care
Low-income families, Individuals with disabilities, State governments, Foster youth
Commercial
majorFocuses on individual and group health insurance products, primarily through the ACA Health Insurance Marketplace. It also includes innovative employer-reimbursement models like ICHRAs.
Ambetter Health, Health Insurance Marketplace, Individual Coverage Health Reimbursement Arrangement (ICHRA), Ambetter Health Solutions
Individuals, Families, Small and large employer groups
Medicare
majorProvides federal health insurance for seniors and individuals with specific disabilities, including managed care alternatives and prescription drug coverage. A key focus is on dual-eligible members who qualify for both Medicare and Medicaid.
Wellcare, Medicare Advantage, Dual Eligible Special Needs Plans (D-SNPs), Medicare Prescription Drug Plans (PDP), Medicare Supplement
Seniors (65+), Individuals with disabilities, Dual-eligible beneficiaries
Other
minorComprises specialized healthcare services that support the core insurance segments, including pharmacy, vision, dental, and clinical care delivery.
AcariaHealth, Community Medical Group (CMG), Denova Collaborative Health, Magellan Health
Health plans, Pharmaceutical manufacturers, At-risk beneficiaries, Labor unions
Segment Financials
Medicaid — Total revenues
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View metricCommercial — Medical costs
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View metricMedicare — Medical costs
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View metricBusiness Overview
Competitive Position
Centene is the nation's largest Medicaid and Health Insurance Marketplace insurer and the largest stand-alone Prescription Drug Plan provider.
Geographies
United States
Customer Segments
Government agencies, Low-income individuals, Seniors, Employers
Upstream Dependencies
Federal government (CMS) funding, State government Medicaid agencies, Pharmaceutical manufacturers, Medical technology and data providers
Downstream Customers
Medicaid and Medicare beneficiaries, Individual health insurance consumers, Employer groups, Healthcare providers (hospitals and physicians)
Competitors & Partners
Competitors
Humana
HUM
Direct competitor in Medicare Advantage and PDP markets.
Elevance Health
ELV
Competitor in Medicaid and Commercial markets.
CVS Health
CVS
Competitor through Aetna in managed care and pharmacy services.
UnitedHealth Group
UNH
Major diversified managed care competitor.
Molina Healthcare
MOH
Direct competitor in government-sponsored healthcare programs.
Partners
National Association of Community Health Centers
Partner to enhance value-based care adoption and improve maternal child health outcomes.
Internal Revenue Service
Collaborates on income verification for Marketplace subsidies and tax credit reimbursements.
Subsidiaries
Wellcare
The primary brand for the company's Medicare Advantage and PDP offerings.
Ambetter Health
The brand used for Health Insurance Marketplace products.
AcariaHealth
Specialty pharmacy operations.
Magellan Health
Behavioral health services provider (slated for divestiture).
Community Medical Group
At-risk primary care provider model in Florida.
Denova Collaborative Health
Outpatient primary care and behavioral healthcare services.
Centene FAQ
Common questions about Centene
Centene Corporation is a leading managed care organization focused on providing high-quality, affordable healthcare solutions to underserved and low-income populations. The company operates as an intermediary between government programs and healthcare providers, leveraging a local approach to manage health outcomes for members in Medicaid, Medicare, and the Health Insurance Marketplace. Its core value proposition lies in its scale, data-driven care management, and ability to address social determinants of health through community-based partnerships.
Centene (CNC) has a market capitalization of $28.8B and trades on NYSE.
Centene generated $198.10B in trailing twelve-month revenue with a net loss of $6.4B, representing a net margin of -3.3%. Gross margin stands at 98.7%, with free cash flow of $7.1B. These figures are based on the Q1 2026 filing.
Centene's key competitors include Humana, Elevance Health, CVS Health, and others. These companies compete in similar markets and product categories.
Centene has approximately 67,700 employees.