Centene to buy WellCare for $15B creating ACA powerhouse
Last edited Wed Mar 27, 2019, 10:50 AM - Edit history (1)
Source: Associated Press
By TOM MURPHY an hour ago
Centene is spending more than $15 billion on rival WellCare to dive deeper into government-funded health coverage in the same week that President Donald Trump’s administration renewed its attack on the Affordable Care Act.
The insurer said Wednesday that its cash-and-stock deal to buy WellCare will create an insurer that manages Medicaid coverage for more than 12 million people and covers several million more in the federal government’s Medicare program for people age 65 and older.
The deal comes after the administration attacked the ACA in court Monday, saying that former President Barack Obama’s health care law should be declared unconstitutional after Congress repealed one part of it — unpopular fines on people who remain uninsured. The 2010 Affordable Care Act expanded coverage to millions of people by creating individual insurance exchanges and increasing Medicaid enrollment in several states.
Centene Corp., based in St. Louis, has built its business around Medicaid, the state and federally funded program for people who are poor or disabled, and also has expanded aggressively on the exchanges.
Read more: https://apnews.com/f9b111d19e634b1b8ebe7916fb672764
Think about this for one minute this for profit insurer is going to buy another for profit insurer, to make a buck off Medicaid recipients from the federal tax payer system to manage Medicaid....................what the fuck is CMS doing with that lobbyist running that government agency......................making a buck off the taxpayers.
This "deal" really shows why health care costs are going up........................this is just outrageous, health care should not be to make "stock" go up for investors on the backs of people that are sick or disabled ...........................
= new reply since forum marked as read
and some how I am hoping that my wife can get on a Medicaid for All program or be giving Medicare at her age, instead of having to wait until she is 67 ......................this is just outrageous.
That above article is just amazing, this is just so wrong, to make a buck of people are disabled or on Medicaid, and now some states are denying people on Medicaid, because they have to look for "work" 80 hrs of the month for three months, and if they fail that litmus test, they are kicked off Medicaid, 37 states want to implement that BS..................I really do hate fascist republicans and corporations that are enabling this crap.........................
November 3, 2020 cannot get here fast enough to declare National Emergency by a Democrat on Health Care, and to clean up the packed courts from this jerk.......................I mean seriously......................
about passion:
“The Pamela Morris Center will inspire Daytonians for decades to come by reminding them of what is possible when you follow your passion.”
Propaganda BS...........................she was paid a salary to get her hands on Medicaid and Medicare money to be an administrator off the backs of taxpayers.....................she alone was making over 2.9 million dollars to do exactly what build buildings, and hire people to get money from the taxpayers, the same taxpayers that have Medicare taken out of there paychecks, to subsidize her in her retirement...................
https://www.daytondailynews.com/business/caresource-ceo-earned/YCGJH184j6WnOk8OdYxahJ/
this is just insane...............
This is from 2017 but this shows why the system is failing....................all of our Medicare and Medicaid is stock price.....................to pay some jerk a salary, by showing how to siphon money from health care....................
https://www.fiercehealthcare.com/payer/ceo-pay-2017-342-million-unitedhealth-molina-cigna-aetna
