ST. LOUIS, Nov. 4, 2016
/PRNewswire/ -- Centene Corporation (NYSE: CNC) announced
today that its subsidiary, Kentucky Spirit Health Plan, Inc.
(Kentucky Spirit), has settled all lawsuits and complaints
associated with its contract with the Commonwealth of Kentucky (the Commonwealth). Under the terms
of the settlement agreement, Kentucky Spirit will receive an
immaterial cash payment from the Commonwealth's actuarial firm and
each party will dismiss all claims related to the litigation with
prejudice. In addition, the parties agree that neither party acted
in bad faith, that they took reasonable positions in light of the
applicable contractual language and that the parties acted in good
faith in attempting to address a difficult situation.
"Our top priority has always been ensuring Kentucky residents get the quality care they
need," said Michael F. Neidorff,
Chairman, President and CEO of Centene Corporation. "We commend
Governor Bevin for taking the initiative to resolve this
longstanding issue."
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a diversified,
multi-national healthcare enterprise that provides a portfolio of
services to government sponsored healthcare programs, focusing on
under-insured and uninsured individuals. Many receive benefits
provided under Medicaid, including the State Children's Health
Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD),
Foster Care and Long Term Care
(LTC), in addition to other state-sponsored programs, Medicare
(including the Medicare prescription drug benefit commonly known as
"Part D"), as well as programs with the U.S. Department of Defense
and U.S. Department of Veterans Affairs. Centene operates local
health plans and offers a range of health insurance solutions. It
also contracts with other healthcare and commercial organizations
to provide specialty services including behavioral health
management, care management software, correctional healthcare
services, dental benefits management, in-home health services, life
and health management, managed vision, pharmacy benefits
management, specialty pharmacy and telehealth services.
Centene uses its investor relations website to publish important
information about the Company, including information that may be
deemed material to investors. Financial and other information about
Centene is routinely posted and is accessible on Centene's investor
relations website, http://www.centene.com/investors.
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SOURCE Centene Corporation