Centene will receive $786 million in Risk-Adjusted Payments for Exchange Participation. Thoughts?
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@hn The industry recovers? When? How? I think you are being overly optimistic.
There is no doubt that layoffs are coming. However, the company remains profitable, and the stock price will rebound slightly on updated guidance. Consider that the Ambetter and Medicaid issues are industry wide and not specific to Centene, and you will understand that as the industry recovers, so will this company.
@OP From reading the comments, I got the sense that people think it's good we got 786M, while in fact it's pretty bad, considering we got mire than 1.6 Billion in recent years. That's a huge loss, hence why the stock tanked
@ac directors and above received at least one email about it, but everyone is being silent.
I don't think it will matter. Centene is swirling down the drain at this point in time. Marketplace is not making enough money, if they raise prices, they may lose members. Or all health care insurances go up for everything, everyone loses and no one can afford healthcare. Then they have the Medicaid cuts coming down the pipeline. No one is going to invest, when Centenes expected to lose business. They are 100% going to restructure. The only question I have is when and how many people.
It’s all very unsettling. Have there been any smaller scale conversations anywhere about potential workforce impact?
Some changes recently happened in AB sales ops.
This screams that they are being rewarded for incompetency ...figures smdh. It won't prevent layoffs because it's not nearly enough to cover their losses.
What does this mean, anyone know? I’m worried there will be a layoff and a barely there severance.
Do we think ambetter will survive?
@aa I am not seeing any transparency, just crickets. It’s frustrating, just tell us something. This will be the last corporation I work for. No thanks
@OP I heard about this yesterday. Trying to stay positive and view this as good news. Lots of folks worried about more layoffs after the stock price drop and risk adjustment news. Continuing to be an unsettling place to work.