Shares of Centene Corp. (CNC) fell 3% in premarket trading on Wednesday after the company said it will cover the cost of COVID-19-related screening, testing, and for people who have its Medicare, Medicaid and health insurance exchange plans. It is also eliminating COVID-19-related copays and prior authorization requirements. A number of other health insurers have made similar announcements, including UnitedHealth Group easing prior authorization rules and Anthem Inc. (ANTM) has suspended prior authorization requirements and audit protocols. Humana Inc. (HUM) has waived all consumer costs for COVID-19 treatments for its Medicare Advantage, fully insured commercial, Medicare Supplement and Medicaid plans. Year-to-date, Centene's stock is down 5.5%, while the S&P 500 has tumbled 20%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 01, 2020 07:41 ET (11:41 GMT)
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