Centene: CEO History

Centene is a Fortune 500 healthcare company that runs a large share of America's government-funded health coverage. Unlike insurers built on employer plans, it focuses on Medicaid, the ACA Marketplace through its Ambetter brand, and Medicare through Wellcare. Headquartered in St. Louis, Missouri, it is the largest Medicaid managed care organization in the U.S., serving about 12.1 million Medicaid members, 3.5 million Marketplace members and 8.8 million Medicare Part D members as of June 30, 2026.

Centene earns most of its money from premiums paid by governments. State Medicaid agencies pay it a fixed monthly amount per enrolled member to manage that member's care; the federal Centers for Medicare & Medicaid Services (CMS) pays it for Medicare Advantage and Part D drug plans; and ACA Marketplace members pay Ambetter premiums that are largely funded by federal tax credits. Centene then contracts with doctors, hospitals and pharmacies and profits only if total medical costs plus administrative expenses come in below those premiums. That spread is thin: in Q2 2026 its health benefits ratio was 89.6% and its SG&A ratio 7.0%, so small swings in medical use or rates move earnings sharply.