Centene cuts 2012 view on high health costs, claims
Centene cuts 2012 view on high health costs, claims
(Reuters) - Centene Corp said its 2012 earnings will take a hit, the second major health insurer to do so in less than a week, due to margin pressures in Texas, where a new Medicaid contract led to unexpectedly high costs and claims. The companys shares plunged nearly a third to a low of $24.26 in early trade on Monday, pressuring the stocks of several rivals as well. Centene said it will post a loss in the second quarter and slashed its earnings forecast for 2012, citing rising costs in its Texas and Kentucky health plans and its Celtic business, which offers private health insurance. ...
//news.yahoo.com/centene-sees-second-quarter-loss-cuts-2012-view-143237889--sector.html
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