10.27.20 - Centene generates $568M in profit in Q3 as WellCare deal takes hold
'Centene's performance in the quarter surpassed Wall Street expectations.'
'Centene also reported getting $398 million as part of a settlement with the federal government over risk corridors. The Supreme Court ruled in April that the federal government was obligated to pay plans promised funds under the Affordable Care Act’s risk corridors.'
'"As we benefited from the one-time risk corridor settlement this quarter, we've made the decision to reinvest the proceeds in the growth of our business as well as the communities in which we serve and live,” CEO and President Michael Neidorff said in a statement.'