Centene exceeds expectations on Wall Street

(Boursier.com) — Centennial , the American health insurance group, exceeded market expectations for the quarter ended. The group said its quarterly health benefits ratio, measuring medical costs to premiums collected, stood at 88.7%, slightly better than analysts’ estimates. Year-over-year, the ratio increased due to higher Medicaid use and flu-related costs. The Medicaid program helps cover the medical costs of people with limited resources in the USA. Excluding items, the company reported adjusted earnings of 86 cents per share, slightly above the Wall Street consensus. Revenue from Centene’s Medicare health insurance business rose about 24% to $5.45 billion.