Centene announced the California Department of Health Care Services has selected its California subsidiary Health Net of California for direct contracts in Los Angeles and Sacramento counties, increasing the number of direct county contracts by DHCS to 10. The new contracts are anticipated to begin January 1, 2024. In total, Health Net will provide Medi-Cal managed care services in Los Angeles, Sacramento, Amador, Calaveras, Inyo, Mono, San Joaquin, Stanislaus, Tulare and Tuolumne counties. Health Net did not receive an award in San Diego. Health Net continues to serve members in Fresno, Imperial, Kings, and Madera counties via other contractual arrangements. Health Net will end its legal actions related to the RFP. Based upon the anticipated structure of California as described above, as well as the potential slight impact of Defense Health Agency’s recent TriCare announcement, the company is lifting its projected 2024 adjusted EPS floor to $7.15 from $7.00.
Published first on TheFly
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