Centene (CNC) Unit Selected by HHS for New Medicaid Contract in Nevada

November 7, 2016 3:46 PM EST

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Centene Corporation (NYSE: CNC) announced that its Nevada subsidiary, Silver Summit Health Plan, has been selected by the Department of Health and Human Services and the Division of Health Care Financing and Policy to serve Medicaid recipients enrolled in Nevada's Medicaid managed care program. Pending regulatory approval and successful completion of readiness review, the four-year agreement, with the possibility of two one-year extensions, is expected to commence on July 1, 2017.

There are currently 400,000 enrollees in Nevada's Medicaid managed care program. Under the new contract, Silver Summit will provide healthcare services to Nevada Medicaid and Check Up members in both Clark and Washoe counties. In addition, beginning in 2018, Silver Summit expects to offer a Health Insurance Marketplace product in Clark and Washoe counties.

"We are pleased to be selected to serve Medicaid beneficiaries in Nevada, which will be Centene's 29th state with health plan operations," said Michael F. Neidorff, Chairman, President and CEO for Centene. "We look forward to bringing quality, comprehensive healthcare solutions to Nevada residents through our locally-based health plan."

"We are honored to have this opportunity to bring our comprehensive member health solutions, as well as our innovative, non-hassle provider approach to value-based reimbursement to Nevada," said Brent Layton, Executive Vice President and Chief Business Development Officer for Centene.

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