Marketplace membership increased 22% YoY due to expanded footprint, strong product positioning, and open enrollment results. Ambetter Health expanded into Delaware in 2024, and is now available across 29 states.

The company completed the divestitures of Operose Health and Circle Health in December 2023 and January 2024, respectively. These divestitures are part of the company's strategy to focus on core businesses.

Centene secured several Medicaid contract wins and renewals, including contracts in Texas, New Hampshire, Oklahoma, and Nebraska. These contracts will support future revenue growth in the Medicaid segment.

The SG&A expense ratio decreased to 8.3% compared to 8.7% in the same period last year, driven by the divestiture of Circle Health and continued leveraging of expenses over higher revenues. This indicates improved operational efficiency.

The decrease in Star quality ratings in the 2023 rating year adversely impacts 2024 Medicare revenue. This is due to the expiration of certain disaster relief provisions and deterioration in select metrics.

Medicaid membership decreased due to the redetermination process following the end of the public health emergency. The company is working with states to match rates to acuity post-redeterminations.

The redetermination process, which began in April 2023, has led to a decline in Medicaid membership. While most states have substantially completed their unwinding processes, the risk of further membership declines remains.

The decrease in Star quality ratings in the 2023 rating year adversely impacts 2024 Medicare revenue. This is due to the expiration of certain disaster relief provisions and deterioration in select metrics.

The company is subject to ongoing reviews and investigations by federal and state regulatory agencies. Compliance with regulations, including those related to Medicare and Marketplace, remains a key risk factor.

The 22% YoY increase in Marketplace membership suggests a strong competitive position. This is due to expanded footprint, strong product positioning, and open enrollment results.

The 14% YoY decline in Medicare Advantage membership is consistent with the company's strategic positioning and bid strategy. This indicates a focus on profitability over membership growth.

The company secured several Medicaid contract wins and renewals, including contracts in Texas, New Hampshire, Oklahoma, and Nebraska. This demonstrates competitive strength in the Medicaid market.

The SG&A expense ratio decreased to 8.3% compared to 8.7% in the same period last year, driven by the divestiture of Circle Health and continued leveraging of expenses over higher revenues. This indicates improved operational efficiency.

Cost of services decreased by $164 million in the three months ended September 30, 2024, compared to the corresponding period in 2023. The decrease was primarily driven by recent divestitures.

The company intends to continue to target initiatives to improve productivity, efficiencies, and reduced organizational costs. This includes capital deployment activities, stock repurchases, and portfolio optimization.

Capital expenditures were $490 million in the nine months ended September 30, 2024, primarily driven by system enhancements and computer hardware. This indicates ongoing investment in technology infrastructure.

With trends in the personalization of healthcare technology, we continue the use of data and analytics to optimize our business. We continue to believe we have both the capacity and capability to successfully navigate industry changes to the benefit of our members, customers, providers and shareholders.

Cash flows provided by operations in 2024 were primarily driven by net earnings, partially offset by pharmacy rebate remittance timing as we transitioned to the new third-party PBM, which commenced in January 2024, and risk adjustment payments for the Marketplace 2023 benefit year.

The company repurchased 16.3 million shares of common stock for $1.2 billion during the third quarter of 2024. Approximately $3.2 billion remains under the repurchase program.

The company's Board of Directors authorized a $1.0 billion senior note debt repurchase program. This provides flexibility in managing the capital structure.

Capital expenditures were $490 million in the nine months ended September 30, 2024, primarily driven by system enhancements and computer hardware. This indicates a focus on technology investments.

The 10-Q filing does not contain specific information regarding new or updated ESG initiatives. Further research into Centene's public reports and website may be required to assess ESG performance.

Medicaid membership decreased due to the redetermination process following the end of the public health emergency. This reflects a challenging market environment for Medicaid enrollment.

The decrease in Star quality ratings in the 2023 rating year adversely impacts 2024 Medicare revenue. This reflects a challenging regulatory environment for Medicare Advantage plans.

Marketplace membership increased 22% YoY due to expanded footprint, strong product positioning, and open enrollment results. This indicates a favorable market environment for the company's Marketplace business.