UnitedHealth Group Incorporated (UNH - Free Report) ’s unit UnitedHealthcare Community Plan is chosen by the State of Kansas as one of the three managed care organizations, delegated to administer the statewide Medicaid Program of KanCare. The program would be effective Jan 1, 2019.
With this program, UnitedHealthcare Community Plan would be continuing to provide health benefit plans to adults and children alike, who might qualify for KanCare. This initiative would include proper accessibility to the care provider network of the plan along with health and wellness programs. Known for offering comprehensive health coverage, the community plan includes preventive care, primary care, hospitalization, prescriptions and more at low cost or for free.
The unit has been working with the state of Kansas since 2013, actively providing personalized and cost-effective healthcare to Medicaid beneficiaries. It expects to enhance the well-being and quality of their lives even more with this plan.
Currently, UnitedHealthcare caters to more than 135,000 Medicaid beneficiaries in Kansas and around 300,000 Kansans got enrolled in employer-sponsored, individual and Medicaid health plans.
The receipt of this contract will add to the company’s Medicaid membership and total revenues in 2019.
UnitedHealth’s revenues from Medicaid has been constantly increasing for the past few years, driven by the combination of new state-based awards and growth in established programs. Notably, the State of Kansas has also awarded Medicaid contracts to units of Aetna Inc. (AET - Free Report) and Centene Corporation (CNC - Free Report) .
Recently, Molina Healthcare, Inc. (MOH - Free Report) was also awarded Medicaid contracts in Florida for Regions 8 and 11.
The Medicaid business continues to be attractive as states are increasingly outsourcing this plan to private insurers for its effective cost management. Moreover, demand for its services is high from an aging baby boomer population. Thus, Medicaid is one of the most sought-after businesses by insurance companies.
Shares of this Zacks Rank #3 (Hold) company have surged 33.95% in the past year, outperforming the industry’s growth of 30.60%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>