Centene Medicare Advantage Fundamentals Outpace HBR Deficit Offset

Dow Jones10-27

Centene's consolidated health benefits ratio held steady at 92.7% in the third quarter of 2026, matching the year-ago period. The company says underlying performance in Medicare Advantage and Prescription Drug Plans drove the stability, alongside improved pricing and risk transfer in Marketplace reflecting member acuity. A key difference from 2025: Centene no longer requires a premium deficiency reserve for Medicare Advantage as the segment moves toward profitability. Last year's third-quarter HBR benefited from a decrease to that reserve. The company lowered its full-year HBR guidance range to 90.4% to 91.1%, with the midpoint improving by 15 basis points to 90.75%.

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