Centene's Meridian Unit Wins Michigan Contract for HIDE SNP Plan

Core Viewpoint - Centene Corporation's Michigan subsidiary, Meridian Health Plan of Michigan, has been selected to provide integrated Medicare and Medicaid services through a new Highly Integrated Dual Eligible Special Needs Plan (HIDE SNP) starting January 1, 2026, replacing the existing Health Link pilot program [1][2]. Group 1: Program Details - The new HIDE SNP will be implemented in collaboration with the Centers for Medicare and Medicaid Services, transitioning from the current Medicare-Medicaid Plan (MMP) to MI Coordinated Health [2]. - Meridian Health Plan aims to enhance its understanding of the healthcare needs of Michigan residents, which will enable better whole-person care and improved health outcomes for dually eligible individuals [3]. Group 2: Membership and Market Position - Meridian currently serves over 540,000 members in Michigan, with approximately 6,000 in MMP and over 13,500 in Medicare Dual Eligible Special Needs [4]. - The Centene unit was awarded a Medicaid contract in April 2024, allowing it to continue offering Medicaid health plans statewide as part of the Comprehensive Health Care Program [5]. Group 3: Financial Implications - Contract wins like the HIDE SNP provide opportunities for health insurers to attract new members and retain existing ones, leading to higher premiums, which significantly contribute to revenue [6]. - As of June 30, 2024, Centene's total membership reached 28.5 million, with premiums increasing by 4.6% year over year in the first half of 2024 [7]. Group 4: Stock Performance - Centene's shares have increased by 1% over the past three months, while the industry has seen a growth of 2.8% [8].