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Overview
Centene provides health insurance and related health services to underinsured and uninsured individuals, serving primarily through the Health Insurance Marketplace and a network of local brands and teams across the United States. It collects premiums from members and delivers access to medical, dental, vision, behavioral health, and pharmacy benefits, aiming to offer cost-effective care. The company differentiates itself with a localized, community-focused operating model that tailors offerings to each community while leveraging a wide range of services and scale to manage costs. Its goal is to improve health outcomes and overall well-being for its members while maintaining responsible governance and sustainability efforts on environmental and social fronts.
About Centene
Industries
Financial Services
Healthcare
Company Size
10,001+
Company Stage
IPO
Headquarters
St. Louis, Missouri
Founded
1984
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Simplify's Take
What believers are saying
- Centene raised 2026 adjusted EPS guidance above $4.80 on July 28, 2026.
- Commercial HBR fell to 79.2% in Q2 2026, versus 93.0% last year.
- Medicare PDP membership reached 8.8 million by June 30, 2026.
What critics are saying
- Marketplace membership dropped to 3.49 million by June 30, 2026, from 5.86 million.
- Medicaid membership fell to 12.11 million, and new work rules start January 1, 2027.
- If ACA risk-adjustment weakens again, Centene loses its Marketplace profit engine.
What makes Centene unique
- Centene served 25.9 million at-risk members on June 30, 2026, across local brands.
- Sarah London said on July 28, 2026, data, technology, and AI are strategic capabilities.
- Evolent expanded oncology care to Centene and WellCare Medicare Advantage members on August 25, 2026.
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Funding
Total Funding
$21.1M
Above
Industry Average
Funded Over
1 Rounds
Benefits
Health Insurance
401(k) Retirement Plan
401(k) Company Match
Paid Vacation
Hybrid Work Options
Flexible Work Hours
Stock Price
Company News
Centene (CNC) hands its turnaround playbook to A new tech Chief. Published on September 2, 2026 at 3:23 am by maham fatima in hedge funds, news. On August 31, Centene Corporation (NYSE:CNC) named Bradley Bolivar its new Chief Information Officer, taking over from Brian LeClaire, who plans to retire by the end of October 2026. Bolivar arrives with nearly three decades of technology leadership, most recently as CIO of Fannie Mae, where his portfolio spanned application development, infrastructure, cybersecurity, data and artificial intelligence. CEO Sarah London framed the move as central to how the health insurer plans to operate, calling data, technology and AI "strategic capabilities" rather than back office support. A modernizer arrives with momentum behind him. Bolivar's résumé reads like a checklist for what a sprawling health insurer needs right now. At Fannie Mae, he pushed enterprise modernization, tightened technology resilience and governance, and expanded the use of AI and automation to improve operations. His background also spans financial services, media and consulting, including a senior leadership stint at Warner Bros. Entertainment, giving him experience outside the narrow confines of healthcare IT. That matters because he is not walking into a company still searching for financial footing. In its July 28 earnings report, Centene posted second-quarter GAAP diluted earnings per share of $2.19 and adjusted diluted earnings per share of $2.51, and it raised its full-year adjusted EPS guidance floor to above $4.80. The company's consolidated health benefits ratio improved to 89.6% from 93.0% a year earlier, and its Commercial segment ratio fell to 79.2%, a notable year-over-year decline. London's comment that Centene is "entering a new era" carries more weight against that backdrop, and Bolivar's own remark about reimagining technology to serve underserved populations lands as more than a talking point when the balance sheet backs it up. LeClaire's planned, orderly exit at the end of October also gives the handoff room to breathe rather than forcing a scramble. The membership math still weighs. The profitability gains sit next to a shrinking customer base. Total at-risk membership fell from 28.0 million in June 2025 to 25.9 million in June 2026, and the damage was not spread evenly. Marketplace membership collapsed from 5.86 million to 3.49 million over that stretch, while Medicaid slipped from 12.82 million to 12.11 million. Medicare Prescription Drug Plan enrollment grew, from 7.85 million to 8.80 million, but the July 28 filing notes that business "operates at a meaningfully lower SG&A expense ratio" than the company overall, a different kind of growth than replacing lost Marketplace lives. Medicaid's health benefits ratio came in at 93.9%, which Centene called "in-line with expectations" but which still reflects ongoing cost pressure in its largest segment. Roughly $0.50 of the guidance increase came from non-recurring items in Medicare and Commercial, a detail that tempers how much of the improvement is durable. Bolivar now inherits the job of modernizing technology across three insurance lines moving in different directions, one shrinking, one growing but thinner-margined, and one still working through elevated medical costs, all while a departing CIO's institutional knowledge walks out the door in October. Market sentiment. 72 hedge funds held Centene shares last quarter, unchanged from the quarter before, pointing to steady rather than accelerating institutional interest. Short sellers account for just 3.08% of the float, a level that suggests little organized skepticism toward the stock. Centene trades at a forward price-to-earnings ratio of 13.12 as of September 1, a modest multiple for a company that just raised its adjusted EPS guidance floor above $4.80. Flat fund positioning, light short interest, and a low multiple together suggest the market has not fully priced in Centene's recent margin improvement, or is still waiting to see if it holds. Conclusion. Centene enters this leadership change from sturdier financial ground than it had a year ago, but the enrollment losses in Marketplace and Medicaid remain unresolved. Bolivar takes charge of technology strategy at a moment when the company is leaning on AI and data to manage costs across three very different books of business. LeClaire's planned departure at the end of October gives him a running start rather than a rushed transition. Whether that technology push shows up in enrollment trends or medical cost ratios will take more than one earnings cycle to judge.
Centene Corporation has appointed Bradley Bolivar as chief information officer, effective 31 August. Bolivar brings nearly three decades of technology leadership experience from roles at Fannie Mae, where he most recently served as CIO, and Warner Bros. Entertainment. At Fannie Mae, Bolivar led enterprise technology strategy across application development, infrastructure, cybersecurity, data, and artificial intelligence. He accelerated modernisation efforts and expanded the use of AI and automation to improve operational performance. Chief executive officer Sarah London said Bolivar's ability to solve complex technology challenges will help Centene deliver improved health experiences for underserved populations. Bolivar succeeds Brian LeClaire, who will retire by end of October 2026 as planned. Centene is a Fortune 500 healthcare company serving government-sponsored and commercial healthcare programmes.
Evolent Health and Centene agree to expanded partnership for oncology specialty care for Medicare Advantage members. Last updated Aug 25, 2026 Evolent Health, Inc. a health care company that delivers proven value-based specialty care solutions to payers and providers, announced an agreement to expand its Technology and Services solution for oncology with its existing partner, Centene Corporation. Centene will expand its use of Evolent Health's oncology solution across its Centene and WellCare Medicare Advantage (MA) members nationally. This agreement deepens the specialty care partnership between Centene and Evolent in the MA market. Jul 30, 2026 Jul 3, 2026 Jan 8, 2026 Prev Next 1 of 27 Jul 30, 2026 Jul 3, 2026 Jan 8, 2026 Ken Fasola, President of Centene Corporation said, "We continue to be impressed with Evolent's value-based specialty care platform and are excited about the announcement today to expand their oncology services into our Medicare Advantage markets later this year. More broadly, we look forward to continuing to expand our strategic partnership in the years to come." "We are excited to expand our partnership with Centene to enable their goal of providing the most valuable tools to manage the quality and cost of oncology care for Medicare Advantage members nationally," stated Dan McCarthy, President of Evolent Health. HealthTech is proud to align closely with Centene with the collective goal of optimizing oncology outcomes for all plan members, their family and caregivers." Post Views: 663
Health Net taps CEO from Nevada plan. Table of contents. Centene's Health Net named Eric Schmacker as plan president and CEO, confirming the Eric Schmacker Health Net CEO appointment following his tenure as the health plan's interim leader. How the Eric Schmacker Health Net CEO appointment came together. Schmacker most recently held the same role at Silver Summit Health Plan, another Centene plan in Nevada, a LinkedIn announcement said. Leading up to his official appointment, he has been Health Net's interim plan president. This progression from interim leadership to permanent appointment suggests Centene opted for continuity, promoting a leader already familiar with Health Net's operations rather than conducting an external search from scratch. Why his Nevada background matters. Having previously led another Centene-owned plan in Nevada gives Schmacker direct experience navigating the same corporate structure and operational expectations he'll now apply at Health Net, a factor that may have streamlined his transition into the permanent role. Schmacker's background before this Health Net CEO appointment. Before Centene, Schmacker held executive roles at Tenet Healthcare's San Antonio, Texas-based Baptist Health System, including CEO of St. Luke's Baptist Hospital, CEO of Mission Trail Baptist Hospital, and COO of North Central Baptist Hospital. He is also a 21-year U.S. Army veteran. Why this combination of experience stands out. Schmacker's background spanning multiple hospital COO roles within a major health system, combined with more than two decades of military service, gives him a leadership profile shaped by both large-scale healthcare operations and the discipline associated with a long military career, a combination that may prove valuable as he takes on the operational demands of leading a Medicaid-focused managed care plan. Why this Health Net CEO transition matters. Former Health Net CEO Brian Ternan left the company in July to serve as GuideWell's executive vice president of commercial business. This departure created the leadership vacancy Schmacker has now filled, following a relatively swift transition from Ternan's exit to Schmacker's confirmed permanent appointment. How this fits a broader wave of payer executive turnover. This appointment adds to a broader pattern of health plan C-suite transitions in 2026, with Becker's separately tracking 22 health plan C-suite exits this year alone, spanning regional plans and large, for-profit insurers alike. The same week also brought news of Cambia Health Solutions naming a new CEO for its third-party administrator subsidiary and a CVS Health board appointment. What this Eric Schmacker Health Net CEO appointment means going forward. With Schmacker's transition from interim to permanent CEO now complete, Health Net has resolved its leadership uncertainty following Ternan's July departure, giving the plan stable, confirmed leadership as it continues operating within Centene's broader managed care portfolio. Given Schmacker's prior experience leading another Centene plan in Nevada, his approach to Health Net's operations may reflect lessons and strategies carried over directly from his time at Silver Summit Health Plan. What to watch going forward. As Schmacker settles into his permanent role, industry observers will likely watch how his hospital operations background and military leadership experience shape Health Net's strategic priorities going forward. Given the broader wave of health plan executive turnover occurring across the industry in 2026, this Eric Schmacker Health Net CEO appointment may offer one more data point in understanding how insurers are approaching leadership transitions amid a year marked by significant C-suite change across the payer sector.
Health insurer Centene has appointed Chris Neczypor as its new chief financial officer, effective January. He will succeed Drew Asher, who has held the position since 2021. Asher will step down in December and retire at the end of 2027. Neczypor will join Centene in September to work alongside Asher for a smooth transition. Prior to joining Centene, Neczypor served as executive vice president and CFO at Lincoln Financial, where he oversaw financial operations for the company's life insurance, annuities, group benefits and retirement solutions businesses.
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About Centene
Industries
Financial Services
Healthcare
Company Size
10,001+
Company Stage
IPO
Headquarters
St. Louis, Missouri
Founded
1984
Centene is Hiring for 217 Jobs on Simplify!
Find jobs on Simplify and start your career today