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October 22, 2013 at 11:47 AM
A health insurer that’s selling plans through public exchanges in nine states can give no information about application activity.
Executives at the insurer, Centene Corp. (NYSE:CNC), took several questions about the Patient Protection and Affordable Care Act (PPACA) exchanges today during their third-quarter earnings conference call.
William Scheffel, the chief financial officer, said the company may be able to talk about exchange enrollment when it hosts an investor day meeting Dec. 13.
“We don’t really have much visibility into the enrollment process yet,” Scheffel said.
K. Rone Baldwin, an executive vice president, noted that Centene is on the state-based exchanges in Massachusetts and Washington state as well as on seven exchanges run by the U.S. Department of Health and Human Services (HHS).
The Massachusetts exchange seems to be working better than the Washington state exchange, and Centene is starting to see that reflected in activity levels, Baldwin said.
At the federal exchanges, where HHS is using the HealthCare.gov website to manage enrollment, Centene is facing the same challenges with consumers getting through the shopping experience as other federal exchange plan issuers, Baldwin said.
Centene is reporting $49 million in net income for the quarter on $2.8 billion in revenue, up from $3.8 million in net income on $2.4 billion in revenue for the third quarter of 2012.
