Centene (CNC) 10-Q 27 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 16, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	CENTENE CORP
Entity Central Index Key	1,071,739
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		119,202,788

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 1,665	$ 1,610
Premium and related receivables	1,281	912
Short term investments	162	177
Other current assets	488	335
Total current assets	3,596	3,034
Long term investments	1,992	1,280
Restricted deposits	106	100
Property, software and equipment, net	488	445
Goodwill	849	754
Intangible assets, net	161	120
Other long term assets	130	91
Total assets	7,322	5,824
Current liabilities:
Medical claims liability	2,144	1,723
Accounts payable and accrued expenses	1,035	768
Return of premium payable	313	236
Unearned revenue	66	168
Current portion of long term debt	5	5
Total current liabilities	3,563	2,900
Long term debt	1,276	874
Other long term liabilities	274	159
Total liabilities	$ 5,113	$ 3,933
Commitments and contingencies
Redeemable noncontrolling interests	$ 156	$ 148
Stockholders' equity:
Preferred stock, $0.001 par value; authorized 10,000,000 shares; no shares issued or outstanding at September 30, 2015 and December 31, 2014	0	0
Common stock, $.001 par value; authorized 200,000,000 shares; 124,940,103 issued and 119,201,560 outstanding at September 30, 2015, and 124,274,864 issued and 118,433,416 outstanding at December 31, 2014	0	0
Additional paid-in capital	909	840
Accumulated other comprehensive loss	(2)	(1)
Retained earnings	1,247	1,003
Treasury stock, at cost (5,738,543 and 5,841,448 shares, respectively)	(103)	(98)
Total Centene stockholders’ equity	2,051	1,744
Noncontrolling interest	2	(1)
Total stockholders’ equity	2,053	1,743
Total liabilities and stockholders’ equity	$ 7,322	$ 5,824

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Stockholders' equity
Preferred stock, par value (in dollar per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	124,940,103	124,274,864
Common stock, shares outstanding (in shares)	119,201,560	118,433,416
Treasury stock, at cost (in shares)	5,738,543	5,841,448

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Premium	$ 4,983	$ 3,780	$ 13,974	$ 10,182
Service	480	379	1,434	1,070
Premium and service revenues	5,463	4,159	15,408	11,252
Premium tax and health insurer fee	358	193	1,050	584
Total revenues	5,821	4,352	16,458	11,836
Expenses:
Medical costs	4,433	3,390	12,475	9,093
Cost of services	413	327	1,234	935
General and administrative expenses	464	334	1,309	951
Premium tax expense	274	161	794	492
Health insurer fee expense	54	32	161	94
Total operating expenses	5,638	4,244	15,973	11,565
Earnings from operations	183	108	485	271
Other income (expense):
Investment and other income	8	6	27	18
Interest expense	(11)	(9)	(32)	(25)
Earnings from continuing operations, before income tax expense	180	105	480	264
Income tax expense	87	27	234	107
Earnings from continuing operations, net of income tax expense	93	78	246	157
Discontinued operations, net of income tax expense of $0, $0, $0, and $1, respectively	1	1	0	2
Net earnings	94	79	246	159
(Earnings) loss attributable to noncontrolling interests	(1)	3	(2)	5
Net earnings attributable to Centene Corporation	93	82	244	164
Earnings from continuing operations, net of income tax expense	$ 92	$ 81	$ 244	$ 162
Basic:
Continuing operations (in dollar per share)	$ 0.77	$ 0.69	$ 2.05	$ 1.40
Discontinued operations (in dollar per share)	0.01	0.01	0	0.01
Basic earnings per common share (in dollar per share)	0.78	0.70	2.05	1.41
Diluted:
Continuing operations (in dollar per share)	0.75	0.67	1.99	1.35
Discontinued operations (in dollar per share)	0.01	0.01	0	0.02
Diluted earnings per common share ( in dollar per share)	$ 0.76	$ 0.68	$ 1.99	$ 1.37
Weighted Average Number of Common Shares Outstanding (in shares)
Basic (in shares)	119,121,524	117,226,968	118,970,853	115,912,304
Diluted (in shares)	123,131,810	121,363,750	122,904,476	119,873,398

Consolidated Statements Of Ope5

Consolidated Statements Of Operations Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Discontinued operations, income tax expense (benefit)	$ 0	$ 0	$ 0	$ 1

Consolidated Statement Of Compr

Consolidated Statement Of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net earnings	$ 94	$ 79	$ 246	$ 159
Reclassification adjustment, net of tax	0	0	0	0
Change in unrealized gain on investments, net of tax	2	(3)	3	2
Foreign currency translation adjustments	0	0	(4)	0
Other comprehensive earnings	2	(3)	(1)	2
Comprehensive earnings	96	76	245	161
Comprehensive (earnings) loss attributable to noncontrolling interests	(1)	3	(2)	5
Comprehensive earnings attributable to Centene Corporation	$ 95	$ 79	$ 243	$ 166

Consolidated Statement Of Stock

Consolidated Statement Of Stockholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) $ in Millions	Total	Centene Stockholders' Equity - Common Stock [Member]	Centene Stockholders' Equity - Additional Paid-In Capital [Member]	Centene Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) [Member]	Centene Stockholders' Equity - Retained Earnings [Member]	Centene Stockholders' Equity - Treasury Stock [Member]	Centene Stockholders' Equity - Non Controlling Interest [Member]
Balance at Dec. 31, 2014	$ 1,743	$ 0	$ 840	$ (1)	$ 1,003	$ (98)	$ (1)
Balance (in shares) at Dec. 31, 2014	118,433,416	124,274,864				5,841,448
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 244				244		0
Comprehensive Earnings:
Change in unrealized gain on investments, net of $1 tax	3			3
Foreign currency translation	(4)			(4)
Total comprehensive earnings	243
Common stock issued for acquisition	12	$ 0	8			$ 4
Common stock issued for acquisition (in shares)						(247,580)
Common stock issued for employee benefit plans	6	$ 0	6
Common stock issued for employee benefit plans (in shares)		665,239
Common stock repurchases	(9)					$ (9)
Common stock repurchases (in shares)						144,675
Stock compensation expense	48		48
Excess tax benefits from stock compensation	7		7
Contribution from noncontrolling interest	2						2
Reclassification to redeemable noncontrolling interest	1						1
Balance at Sep. 30, 2015	$ 2,053	$ 0	$ 909	$ (2)	$ 1,247	$ (103)	$ 2
Balance (in shares) at Sep. 30, 2015	119,201,560	124,940,103				5,738,543

Consolidated Statement Of Stoc8

Consolidated Statement Of Stockholders' Equity (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Statement of Stockholders' Equity [Abstract]
Change in unrealized gain on investments, tax	$ 1

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net earnings	$ 246	$ 159
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	82	65
Stock compensation expense	48	35
Deferred income taxes	(14)	(65)
Gain on settlement of contingent consideration	(37)	0
Goodwill and intangible adjustment	28	0
Changes in assets and liabilities
Premium and related receivables	(360)	(243)
Other current assets	(103)	(25)
Other assets	(40)	(51)
Medical claims liabilities	394	476
Unearned revenue	(104)	54
Accounts payable and accrued expenses	209	427
Other long term liabilities	101	17
Other operating activities	7	4
Net cash provided by operating activities	457	853
Cash flows from investing activities:
Capital expenditures	(101)	(69)
Purchases of investments	(1,077)	(738)
Sales and maturities of investments	418	320
Proceeds from asset sale	7	0
Investments in acquisitions, net of cash acquired	(16)	(94)
Net cash used in investing activities	(769)	(581)
Cash flows from financing activities:
Proceeds from exercise of stock options	5	6
Proceeds from borrowings	1,305	1,385
Payment of long term debt	(910)	(1,118)
Excess tax benefits from stock compensation	7	7
Common stock repurchases	(9)	(6)
Contribution from noncontrolling interest	2	5
Debt issue costs	(4)	(6)
Payment of contingent consideration obligation	(29)	0
Net cash provided by financing activities	367	273
Net increase in cash and cash equivalents	55	545
Cash and cash equivalents, beginning of period	1,610	1,038
Cash and cash equivalents, end of period	1,665	1,583
Supplemental disclosures of cash flow information:
Interest paid	28	18
Health insurer fee paid	213	126
Income taxes paid	229	167
Equity issued in connection with acquisitions	$ 12	$ 190

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation The accompanying interim financial statements have been prepared under the presumption that users of the interim financial information have either read or have access to the audited financial statements included in the Form 10-K for the fiscal year ended December 31, 2014 . The unaudited interim financial statements herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, footnote disclosures which would substantially duplicate the disclosures contained in the December 31, 2014 audited financial statements have been omitted from these interim financial statements where appropriate. In the opinion of management, these financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of the results of the interim periods presented. Certain 2014 amounts in the notes to the consolidated financial statements have been reclassified to conform to the 2015 presentation. These reclassifications have no effect on net earnings or stockholders’ equity as previously reported. On February 2, 2015, the Board of Directors declared a two-for-one split of Centene's common stock in the form of a 100% stock dividend distributed February 19, 2015 to stockholders of record on February 12, 2015. All share and per share information presented in this Form 10-Q has been adjusted for the two-for-one stock split. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) which supersedes existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity's insurance contracts). Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued an ASU which deferred the effective date of the new revenue standard by one year. The new effective date is for annual and interim periods beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the effect of the new revenue recognition guidance. In April 2015, the FASB issued an ASU which changes the presentation of debt issuance costs in financial statements. Under the new standard, debt issuance costs are presented in the balance sheet as a direct deduction of the related debt liability rather than as an asset. Amortization of the cost is reported as interest expense. The new standard is effective for annual and interim periods beginning after December 15, 2015 and early adoption is permitted. The Company elected to adopt this guidance beginning in the first quarter of 2015 and has applied the new standard retrospectively to all prior periods. The reclassification of debt issuance costs impacted the Consolidated Balance Sheets by decreasing both Other Long Term Assets and Long Term Debt by $14 million at December 31, 2014 and $15 million at September 30, 2015 . These reclassifications have no effect on net earnings or stockholders' equity as previously reported. In May 2015, the FASB issued an ASU which expands the disclosure requirements for insurance companies that issue short-duration contracts. The new standard will increase the level of disclosure around the Company's Medical Claims Liability to include the following: claims development by year; claim frequency; a rollforward of the claims liability; and a description of methods and assumptions used for determining the liability. It is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the effect of the new disclosure requirements. In September 2015, the FASB issued an ASU which simplifies the accounting for measurement-period adjustments in business combinations. Under the new standard, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Additionally, the acquirer must present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in the current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. It is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company elected to adopt this guidance in the current fiscal quarter.

Health Net Merger

Health Net Merger	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Health Net Merger	Health Net, Inc. Merger On July 2, 2015, the Company announced that the Company and two direct, newly formed subsidiaries of the Company had entered into a definitive merger agreement with Health Net, Inc. (Health Net) under which the Company will acquire all of the issued and outstanding shares of Health Net. Under the terms of the agreement, at the closing of the transaction, Health Net stockholders (with limited exceptions) would receive 0.622 of a validly issued, fully paid, non-assessable share of Centene common stock and $28.25 in cash for each share of Health Net common stock. The transaction is valued at approximately $6.8 billion ( based on the Centene closing stock price on July 1, 2015 ), including the assumption of debt. The transaction is expected to close in early 2016 and is subject to approvals by relevant state insurance and healthcare regulators and other customary closing conditions. In August 2015, the Company announced the early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. In October 2015, the Company and Health Net announced the transaction was approved by both the Centene and Health Net stockholders. The Company expects to fund the cash portion of the acquisition through a combination of existing cash on hand and debt financing.

Acquisitions and Redeemable Non

Acquisitions and Redeemable Noncontrolling Interest	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions and Redeemable Noncontrolling Interest	Acquisitions and Redeemable Noncontrolling Interest Acquisitions Community Health Solutions of America, Inc. In July 2014, the Company completed a transaction whereby Community Health Solutions of America, Inc. assigned its contract with the Louisiana Department of Health and Hospitals under the Bayou Health Shared Savings Program to the Company's subsidiary, Louisiana Healthcare Connections (LHC). The fair value of consideration transferred included the present value of the estimated contingent consideration, subject to membership retained by LHC in the first quarter of 2015. The fair value of contingent consideration was $18 million at December 31, 2014. During the first quarter of 2015, the Company determined the amount of the actual contingent consideration to be $8 million . A gain of $10 million related to the settlement of the obligation was recorded in General and Administrative expense. LiveHealthier, Inc. In January 2015, the Company acquired the remaining 79% of LiveHealthier, Inc. (LiveHealthier) for $28 million , bringing its total ownership to 100% . LiveHealthier is a provider of technology and service-based health management solutions. The fair value of consideration of $28 million consists of cash paid of $11 million , Centene common stock issued at closing of $13 million , and the fair value of estimated contingent consideration of $4 million to be paid in cash over a three year period. The contingent consideration will not exceed $9 million . The Company's allocation of fair value resulted in goodwill of $26 million and other identifiable intangible assets of $15 million . The goodwill is not deductible for income tax purposes. The acquisition is recorded in the Managed Care segment. Fidelis SecureCare of Michigan, Inc. In May 2015, the Company acquired 100% of Fidelis SecureCare of Michigan, Inc. (Fidelis) a subsidiary of Concerto Healthcare, for $57 million . Fidelis was previously selected by the Michigan Department of Community Health to provide integrated healthcare services to members who are dually eligible for Medicare and Medicaid in Macomb and Wayne counties. The fair value of consideration of $57 million consists of initial cash consideration of $7 million and the fair value of estimated contingent consideration of $50 million . The contingent consideration is based on duals membership and revenue per member during the first year of the contract (July 2015 - June 2016), including reconciliation payments settled over a two year period . The contingent consideration fair value is estimated based on expected membership during the first year of the contract as well as estimated revenue per member reflecting both member mix and risk adjustment. The Company's allocation of fair value resulted in goodwill of $29 million and other identifiable intangible assets of $23 million . 100% of the goodwill is deductible for income tax purposes. The acquisition is recorded in the Managed Care segment. During the third quarter of 2015, the Company experienced higher than anticipated opt-out rates and member attrition in the dual demonstration program, resulting in lower than expected membership and lower blended premium rates. As a result, the fair value of estimated contingent consideration was reduced to $23 million , and the Company recorded a gain of $27 million in general and administrative expenses. In connection with the lower membership and revenue outlook, the Company conducted an impairment analysis of the identifiable intangible assets and goodwill, resulting in a reduction of goodwill and intangible assets of $28 million which was recorded in general and administrative expenses. At September 30, 2015, the Company had goodwill of $15 million and other identifiable intangible assets of $7 million remaining on the balance sheet. Agate Resources, Inc. In September 2015, the Company completed the acquisition of Agate Resources, Inc. (Agate) for $120 million . Agate is a diversified holding company that offers primarily Medicaid and other healthcare products and services to Oregon residents. The fair value of consideration of $120 million consists of initial cash consideration of $93 million , the present value of future cash payments of $18 million to be paid out over a three year period, and the fair value of estimated contingent consideration of $9 million . A portion of the contingent consideration is based on the achievement of underwriting targets and will be paid in cash over a three year period; the remainder is based on the receipt of a retrospective rate adjustment and is expected to be settled in cash in the fourth quarter of 2015. The Company's preliminary allocation of fair value resulted in goodwill of $51 million and other identifiable intangible assets of $34 million . The Company has not finalized the allocation of the fair value of assets and liabilities. The goodwill is not deductible for income tax purposes. The acquisition is recorded in the Managed Care segment. Redeemable Noncontrolling Interest In January 2015, the Company sold 25% of its ownership in Celtic Insurance Company for $7 million . No gain or loss was recognized on the sale of the ownership interest. Celtic Insurance Company is included in the Managed Care segment. In connection with the sale of the ownership interest, the Company entered into a put agreement with the noncontrolling interest holder, allowing the noncontrolling interest holder to put its interest back to the Company beginning in 2022. As a result of put option agreements, the noncontrolling interest is considered redeemable and is classified in the Redeemable Noncontrolling Interest section of the consolidated balance sheets. A reconciliation of the changes in the Redeemable Noncontrolling Interests is as follows ($ in millions): Balance, December 31, 2014 $ 148 Fair value of redeemable noncontrolling interest sold 7 Reclassification to redeemable noncontrolling interest (1 ) Net earnings attributable to redeemable noncontrolling interests 2 Balance, September 30, 2015 $ 156

Short-Term And Long-Term Invest

Short-Term And Long-Term Investments And Restricted Deposits	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Short term and Long term Investments, Restricted Deposits	Short term and Long term Investments, Restricted Deposits Short term and long term investments and restricted deposits by investment type consist of the following ($ in millions): September 30, 2015 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 468 $ 2 $ — $ 470 $ 393 $ 1 $ (2 ) $ 392 Corporate securities 837 4 (4 ) 837 556 2 (2 ) 556 Restricted certificates of deposit 9 — — 9 6 — — 6 Restricted cash equivalents 78 — — 78 79 — — 79 Municipal securities 489 2 (2 ) 489 174 1 — 175 Asset-backed securities 186 — — 186 180 — — 180 Residential mortgage-backed securities 75 2 — 77 84 1 — 85 Commercial mortgage-backed securities 26 — — 26 — — — — Cost and equity method investments 72 — — 72 68 — — 68 Life insurance contracts 16 — — 16 16 — — 16 Total $ 2,256 $ 10 $ (6 ) $ 2,260 $ 1,556 $ 5 $ (4 ) $ 1,557 The Company’s investments are classified as available-for-sale with the exception of life insurance contracts and certain cost and equity method investments. The Company’s investment policies are designed to provide liquidity, preserve capital and maximize total return on invested assets with the focus on high credit quality securities. The Company limits the size of investment in any single issuer other than U.S. treasury securities and obligations of U.S. government corporations and agencies. As of September 30, 2015 , 38% of the Company’s investments in securities recorded at fair value that carry a rating by S&P or Moody’s were rated AAA/Aaa, 62% were rated AA-/Aa3 or higher, and 88% were rated A-/A3 or higher. At September 30, 2015 , the Company held certificates of deposit, life insurance contracts and cost and equity method investments which did not carry a credit rating. The Company's residential mortgage-backed securities are all issued by the Federal National Mortgage Association, Government National Mortgage Association or Federal Home Loan Mortgage Corporation, which carry implicit or explicit guarantees of the U.S. government. The Company's commercial mortgage-backed securities are primarily senior tranches with a weighted average rating of AA+ and a weighted average duration of 2.0 years at September 30, 2015 . The fair value of available-for-sale investments with gross unrealized losses by investment type and length of time that individual securities have been in a continuous unrealized loss position were as follows ($ in millions): September 30, 2015 December 31, 2014 Less Than 12 Months 12 Months or More Less Than 12 Months 12 Months or More Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government corporations and agencies $ — $ 68 $ — $ 16 $ — $ 72 $ (2 ) $ 180 Corporate securities (3 ) 317 (1 ) 41 (2 ) 311 — 1 Municipal securities (1 ) 120 (1 ) 5 — 20 — 7 Asset-backed securities — 68 — 13 — 70 — 10 Residential mortgage-backed securities — — — — — 18 — — Total $ (4 ) $ 573 $ (2 ) $ 75 $ (2 ) $ 491 $ (2 ) $ 198 As of September 30, 2015 , the gross unrealized losses were generated from 202 positions out of a total of 680 positions. The change in fair value of fixed income securities is a result of movement in interest rates subsequent to the purchase of the security. For each security in an unrealized loss position, the Company assesses whether it intends to sell the security or if it is more likely than not the Company will be required to sell the security before recovery of the amortized cost basis for reasons such as liquidity, contractual or regulatory purposes. If the security meets this criterion, the decline in fair value is other-than-temporary and is recorded in earnings. The Company does not intend to sell these securities prior to maturity and it is not likely that the Company will be required to sell these securities prior to maturity; therefore, there is no indication of other-than-temporary impairment for these securities. During the nine months ended September 30, 2015 , the Company recognized $8 million of income from equity method investments. The contractual maturities of short term and long term investments and restricted deposits are as follows ($ in millions): September 30, 2015 December 31, 2014 Investments Restricted Deposits Investments Restricted Deposits Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 162 $ 162 $ 95 $ 95 $ 176 $ 177 $ 92 $ 92 One year through five years 1,613 1,616 11 11 1,121 1,121 8 8 Five years through ten years 268 268 — — 121 120 — — Greater than ten years 107 108 — — 38 39 — — Total $ 2,150 $ 2,154 $ 106 $ 106 $ 1,456 $ 1,457 $ 100 $ 100 Actual maturities may differ from contractual maturities due to call or prepayment options. Asset-backed and mortgage-backed securities are included in the one year through five years category, while cost and equity method investments and life insurance contracts are included in the five years through ten years category. The Company has an option to redeem at amortized cost substantially all of the securities included in the greater than ten years category listed above. The Company continuously monitors investments for other-than-temporary impairment. Certain investments have experienced a decline in fair value due to changes in credit quality, market interest rates and/or general economic conditions. The Company recognizes an impairment loss for cost and equity method investments when evidence demonstrates that it is other-than-temporarily impaired. Evidence of a loss in value that is other-than-temporary may include the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain a level of earnings that would justify the carrying amount of the investment.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized based upon observable or unobservable inputs used to estimate fair value. Level inputs are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The following table summarizes fair value measurements by level at September 30, 2015 , for assets and liabilities measured at fair value on a recurring basis ($ in millions): Level I Level II Level III Total Assets Cash and cash equivalents $ 1,665 $ — $ — $ 1,665 Investments available for sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 437 $ 14 $ — $ 451 Corporate securities — 837 — 837 Municipal securities — 489 — 489 Asset-backed securities — 186 — 186 Residential mortgage-backed securities — 77 — 77 Commercial mortgage-backed securities — 26 — 26 Total investments $ 437 $ 1,629 $ — $ 2,066 Restricted deposits available for sale: Cash and cash equivalents $ 78 $ — $ — $ 78 Certificates of deposit 9 — — 9 U.S. Treasury securities and obligations of U.S. government corporations and agencies 19 — — 19 Total restricted deposits $ 106 $ — $ — $ 106 Other long term assets: Interest rate swap agreements $ — $ 18 $ — $ 18 Total assets at fair value $ 2,208 $ 1,647 $ — $ 3,855 The following table summarizes fair value measurements by level at December 31, 2014 , for assets and liabilities measured at fair value on a recurring basis ($ in millions): Level I Level II Level III Total Assets Cash and cash equivalents $ 1,610 $ — $ — $ 1,610 Investments available for sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 360 $ 17 $ — $ 377 Corporate securities — 556 — 556 Municipal securities — 175 — 175 Asset-backed securities — 180 — 180 Residential mortgage-backed securities — 85 — 85 Commercial mortgage-backed securities — — — — Total investments $ 360 $ 1,013 $ — $ 1,373 Restricted deposits available for sale: Cash and cash equivalents $ 79 $ — $ — $ 79 Certificates of deposit 6 — — 6 U.S. Treasury securities and obligations of U.S. government corporations and agencies 15 — — 15 Total restricted deposits $ 100 $ — $ — $ 100 Other long term assets: Interest rate swap agreements $ — $ 11 $ — $ 11 Total assets at fair value $ 2,070 $ 1,024 $ — $ 3,094 The Company periodically transfers U.S. Treasury securities and obligations of U.S. government corporations and agencies between Level I and Level II fair value measurements dependent upon the level of trading activity for the specific securities at the measurement date. The Company’s policy regarding the timing of transfers between Level I and Level II is to measure and record the transfers at the end of the reporting period. At September 30, 2015 , there were less than $1 million of transfers from Level I to Level II and $2 million of transfers from Level II to Level I. The Company utilizes matrix pricing services to estimate fair value for securities which are not actively traded on the measurement date. The Company designates these securities as Level II fair value measurements. The aggregate carrying amount of the Company’s life insurance contracts and other non-majority owned investments, which approximates fair value, was $88 million and $84 million as of September 30, 2015 and December 31, 2014 , respectively.

Health Insurance Marketplace

Health Insurance Marketplace	9 Months Ended
	Sep. 30, 2015
Health Insurance Marketplace [Abstract]
Health Insurance Marketplace	Health Insurance Marketplace The Affordable Care Act (ACA) established risk spreading premium stabilization programs effective January 1, 2014 for the Health Insurance Marketplace product. These programs, commonly referred to as the “three Rs,” include a permanent risk adjustment program, a transitional reinsurance program, and a temporary risk corridor program. Additionally, the ACA established a minimum annual medical loss ratio for the Health Insurance Marketplace. Each of the three R programs are taken into consideration to determine if the Company’s estimated annual medical costs are less than the minimum loss ratio and require an adjustment to Premium revenue to meet the minimum medical loss ratio. In June 2015, CMS released final results on reinsurance and risk-adjustment for the 2014 plan year. These final results had an insignificant impact to the Company for the 2014 plan year. The Company's receivables (payables) for each of these programs are as follows ($ in millions): September 30, 2015 December 31, 2014 Risk adjustment $ (77 ) $ (44 ) Reinsurance 14 11 Risk corridor (31 ) (9 ) Minimum medical loss ratio (14 ) (6 )

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following ($ in millions): September 30, 2015 December 31, 2014 $425 million 5.75% Senior notes, due June 1, 2017 $ 428 $ 429 $500 million 4.75% Senior notes, due May 15, 2022 500 300 Fair value of interest rate swap agreements 18 11 Senior notes 946 740 Revolving credit agreement 275 75 Mortgage notes payable 68 70 Capital leases 7 8 Debt issuance costs (15 ) (14 ) Total debt 1,281 879 Less current portion (5 ) (5 ) Long term debt $ 1,276 $ 874 Senior Notes In January 2015, the Company issued an additional $200 million of 4.75% Senior Notes ( $200 Million Add-on Notes) at par. The $200 Million Add-on Notes were offered as additional debt securities under the indenture governing the $300 million of 4.75% Senior Notes issued in April 2014. In connection with the January 2015 issuance, the Company entered into interest rate swap agreements for a notional amount of $200 million at a floating rate of interest based on the three month LIBOR plus 2.88% . Gains and losses due to changes in the fair value of the interest rate swap completely offset changes in the fair value of the hedged portion of the underlying debt and are recorded as an adjustment to the $200 Million Add-on Notes. The indentures governing both the $425 million notes due 2017 and the $500 million notes due 2022 contain non-financial and financial covenants, including requirements of a minimum fixed charge coverage ratio. Interest Rate Swaps The Company uses interest rate swap agreements to convert a portion of its interest rate exposure from fixed rates to floating rates to more closely align interest expense with interest income received on its cash equivalent and variable rate investment balances. The Company has $750 million of notional amount of interest rate swap agreements consisting of $250 million which are scheduled to expire on June 1, 2017 and $500 million that are scheduled to expire May 15, 2022 . Under the Swap Agreements, the Company receives a fixed rate of interest and pays an average variable rate of the three month LIBOR plus 2.85% adjusted quarterly. At September 30, 2015 , the weighted average rate was 3.16% . The Swap Agreements are formally designated and qualify as fair value hedges and are recorded at fair value in the Consolidated Balance Sheet in other assets or other liabilities. Gains and losses due to changes in fair value of the interest rate swap agreements completely offset changes in the fair value of the hedged portion of the underlying debt. Therefore, no gain or loss has been recognized due to hedge ineffectiveness. Offsetting changes in fair value of both the interest rate swaps and the hedged portion of the underlying debt both were recognized in interest expense in the Consolidated Statement of Operations. The Company does not hold or issue any derivative instrument for trading or speculative purposes. Revolving Credit Agreement The Company has an unsecured $500 million revolving credit facility. Borrowings under the agreement bear interest based upon LIBOR rates, the Federal Funds Rate or the Prime Rate. The agreement has a maturity date of June 1, 2018 , provided it will mature 90 days prior to the maturity date of the Company's 5.75% Senior Notes due 2017 if such notes are not refinanced (or extended), certain financial conditions are not met, or the Company does not carry $100 million of unrestricted cash. As of September 30, 2015 , the Company had $275 million of borrowings outstanding under the agreement with a weighted average interest rate of 3.01% . The agreement contains non-financial and financial covenants, including requirements of minimum fixed charge coverage ratios, maximum debt-to-EBITDA ratios and minimum tangible net worth. The Company is required to not exceed a maximum debt-to-EBITDA ratio of 3.0 to 1.0. As of September 30, 2015 , there were no limitations on the availability under the revolving credit agreement as a result of the debt-to-EBITDA ratio. Letters of Credit & Surety Bonds The Company had outstanding letters of credit of $46 million as of September 30, 2015 , which were not part of the revolving credit facility. The Company also had letters of credit for $52 million (valued at September 30, 2015 conversion rate), or €46 million , representing its proportional share of the letters of credit issued to support Ribera Salud’s outstanding debt, which are a part of the revolving credit facility. Collectively, the letters of credit bore interest at 1.55% as of September 30, 2015 . The Company had outstanding surety bonds of $304 million as of September 30, 2015 .

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the calculation of basic and diluted net earnings per common share ($ in millions, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Earnings attributable to Centene Corporation: Earnings from continuing operations, net of tax $ 92 $ 81 $ 244 $ 162 Discontinued operations, net of tax 1 1 — 2 Net earnings $ 93 $ 82 $ 244 $ 164 Shares used in computing per share amounts: Weighted average number of common shares outstanding 119,121,524 117,226,968 118,970,853 115,912,304 Common stock equivalents (as determined by applying the treasury stock method) 4,010,286 4,136,782 3,933,623 3,961,094 Weighted average number of common shares and potential dilutive common shares outstanding 123,131,810 121,363,750 122,904,476 119,873,398 Net earnings per common share attributable to Centene Corporation: Basic: Continuing operations $ 0.77 $ 0.69 $ 2.05 $ 1.40 Discontinued operations 0.01 0.01 — 0.01 Basic earnings per common share $ 0.78 $ 0.70 $ 2.05 $ 1.41 Diluted: Continuing operations $ 0.75 $ 0.67 $ 1.99 $ 1.35 Discontinued operations 0.01 0.01 — 0.02 Diluted earnings per common share $ 0.76 $ 0.68 $ 1.99 $ 1.37 The calculation of diluted earnings per common share for the three and nine months ended September 30, 2015 excludes the impact of 28,716 and 84,644 shares, respectively, related to anti-dilutive restricted stock and restricted stock units. The calculation of diluted earnings per common share for the three and nine months ended September 30, 2014 excludes the impact of 47,520 shares and 117,756 shares, respectively, related to anti-dilutive restricted stock and restricted stock units.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information Centene operates in two segments: Managed Care and Specialty Services. The Managed Care segment consists of Centene’s health plans including all of the functions needed to operate them. The Specialty Services segment consists of Centene’s specialty companies offering auxiliary healthcare services and products. Segment information for the three months ended September 30, 2015 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 4,922 $ 541 $ — $ 5,463 Premium and service revenues from internal customers 24 1,274 (1,298 ) — Total premium and service revenues $ 4,946 $ 1,815 $ (1,298 ) $ 5,463 Earnings from operations $ 138 $ 45 $ — $ 183 Segment information for the three months ended September 30, 2014 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 3,730 $ 429 $ — $ 4,159 Premium and service revenues from internal customers 16 806 (822 ) — Total premium and service revenues $ 3,746 $ 1,235 $ (822 ) $ 4,159 Earnings from operations $ 80 $ 28 $ — $ 108 Segment information for the nine months ended September 30, 2015 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 13,812 $ 1,596 $ — $ 15,408 Premium and service revenues from internal customers 73 3,525 (3,598 ) — Total premium and service revenues $ 13,885 $ 5,121 $ (3,598 ) $ 15,408 Earnings from operations $ 358 $ 127 $ — $ 485 Segment information for the nine months ended September 30, 2014 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 9,925 $ 1,327 $ — $ 11,252 Premium and service revenues from internal customers 42 2,121 (2,163 ) — Total premium and service revenues $ 9,967 $ 3,448 $ (2,163 ) $ 11,252 Earnings from operations $ 188 $ 83 $ — $ 271

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies On July 5, 2013, the Company's subsidiary, Kentucky Spirit Health Plan, Inc. (Kentucky Spirit), terminated its contract with the Commonwealth of Kentucky (the Commonwealth). Kentucky Spirit believes it had a contractual right to terminate the contract and filed a lawsuit in Franklin Circuit Court seeking a declaration of this right. The Commonwealth has alleged that Kentucky Spirit's exit constitutes a material breach of contract. The Commonwealth seeks to recover substantial damages and to enforce its rights under Kentucky Spirit's $25 million performance bond. The Commonwealth's attorneys have asserted that the Commonwealth's expenditures due to Kentucky Spirit's departure range from $28 million to $40 million plus interest, and that the associated CMS expenditures range from $92 million to $134 million . Kentucky Spirit disputes the Commonwealth's alleged damages, and is pursuing its own litigation claims for damages against the Commonwealth. On February 6, 2015, the Kentucky Court of Appeals affirmed a Franklin Circuit Court ruling that Kentucky Spirit does not have a contractual right to terminate the contract early. The Court of Appeals also found that the contract’s liquidated damages provision “is applicable in the event of a premature termination of the Contract term.” On September 8, 2015, Kentucky Spirit filed a motion for discretionary review seeking Kentucky Supreme Court review of the finding that Kentucky Spirit's departure constituted a breach of contract. On October 9, 2015, the Commonwealth filed a response opposing discretionary review. Kentucky Spirit also filed a lawsuit in April 2013, amended in October 2014, in Franklin Circuit Court seeking damages against the Commonwealth for losses sustained due to the Commonwealth's alleged breaches. On December 9, 2014, the Franklin Circuit Court denied the Commonwealth's motion for partial summary judgment on Kentucky Spirit's damages claims. On March 15, 2015, the Franklin Circuit Court denied the Commonwealth's motion to stay discovery and ordered that discovery proceed on those claims. On May 26, 2015, the Commonwealth issued a demand for indemnification to its actuarial firm, for "all defense costs, and any resultant monetary awards in favor of Kentucky Spirit, arising from or related to Kentucky Spirit's claims which are predicated upon the alleged omissions and errors in the Data Book and the certified actuarially sound rates." On August 19, 2015, the actuarial firm moved to intervene in the litigation. The Franklin Circuit Court granted the actuarial firm's motion on September 8, 2015 and ordered a forty-five day stay of all pretrial proceedings in order for the firm to review the record. Also, on August 19, 2015, the actuarial firm filed a petition seeking a declaratory judgment that it is not liable to the Commonwealth for indemnification related to the claims asserted by Kentucky Spirit against the Commonwealth. On October 5, 2015, the Commonwealth filed an answer to the actuarial firm's petition and asserted counterclaims/cross-claims against the firm. On March 9, 2015, the Secretary of the Kentucky Cabinet for Health and Family Services (CHFS) issued a determination letter finding that Kentucky Spirit owed the Commonwealth $40 million in actual damages plus prejudgment interest at 8 percent. On March 18, 2015, in a letter to the Kentucky Finance and Administration Cabinet (FAC), Kentucky Spirit contested CHFS' jurisdiction to make such a determination. The FAC did not issue a decision within the required 120 days. On August 13, 2015, Kentucky Spirit filed a declaratory judgment action against the Commonwealth in Franklin Circuit Court seeking a declaration that the Commonwealth may not purport to issue a decision against Kentucky Spirit awarding damages to itself when the matter is already before the Kentucky courts, and that the Commonwealth has waived its claims against Kentucky Spirit for damages arising out of the contract. The resolution of the Kentucky litigation matters may result in a range of possible outcomes. If Kentucky Spirit prevails on its claims, it would be entitled to damages. If the Commonwealth prevails, a liability to the Commonwealth could be recorded. The Company is unable to estimate the ultimate outcome resulting from the Kentucky litigation. As a result, the Company has not recorded any receivable or any liability for potential damages under the contract as of September 30, 2015. While uncertain, the ultimate resolution of the pending litigation could have a material effect on the financial position, cash flow or results of operations of the Company in the period it is resolved or becomes known. Excluding the Kentucky matters discussed above, the Company is also routinely subjected to legal proceedings in the normal course of business. While the ultimate resolution of such matters in the normal course of business is uncertain, the Company does not expect the results of any of these matters individually, or in the aggregate, to have a material effect on its financial position, results of operations or cash flows.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event In October 2015, the Company's stockholders approved a proposal to increase the Company's authorized shares of common stock from 200 million to 400 million .

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements, Policy	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) which supersedes existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity's insurance contracts). Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued an ASU which deferred the effective date of the new revenue standard by one year. The new effective date is for annual and interim periods beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the effect of the new revenue recognition guidance. In April 2015, the FASB issued an ASU which changes the presentation of debt issuance costs in financial statements. Under the new standard, debt issuance costs are presented in the balance sheet as a direct deduction of the related debt liability rather than as an asset. Amortization of the cost is reported as interest expense. The new standard is effective for annual and interim periods beginning after December 15, 2015 and early adoption is permitted. The Company elected to adopt this guidance beginning in the first quarter of 2015 and has applied the new standard retrospectively to all prior periods. The reclassification of debt issuance costs impacted the Consolidated Balance Sheets by decreasing both Other Long Term Assets and Long Term Debt by $14 million at December 31, 2014 and $15 million at September 30, 2015 . These reclassifications have no effect on net earnings or stockholders' equity as previously reported. In May 2015, the FASB issued an ASU which expands the disclosure requirements for insurance companies that issue short-duration contracts. The new standard will increase the level of disclosure around the Company's Medical Claims Liability to include the following: claims development by year; claim frequency; a rollforward of the claims liability; and a description of methods and assumptions used for determining the liability. It is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the effect of the new disclosure requirements. In September 2015, the FASB issued an ASU which simplifies the accounting for measurement-period adjustments in business combinations. Under the new standard, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Additionally, the acquirer must present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in the current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. It is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company elected to adopt this guidance in the current fiscal quarter.

Acquisitions and Redeemable N22

Acquisitions and Redeemable Noncontrolling Interest Acquisitions and Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Redeemable Noncontrolling Interest	A reconciliation of the changes in the Redeemable Noncontrolling Interests is as follows ($ in millions): Balance, December 31, 2014 $ 148 Fair value of redeemable noncontrolling interest sold 7 Reclassification to redeemable noncontrolling interest (1 ) Net earnings attributable to redeemable noncontrolling interests 2 Balance, September 30, 2015 $ 156

Short-Term And Long-Term Inve23

Short-Term And Long-Term Investments And Restricted Deposits (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Short-Term And Long-Term Investments And Restricted Deposits By Investment Type	Short term and long term investments and restricted deposits by investment type consist of the following ($ in millions): September 30, 2015 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 468 $ 2 $ — $ 470 $ 393 $ 1 $ (2 ) $ 392 Corporate securities 837 4 (4 ) 837 556 2 (2 ) 556 Restricted certificates of deposit 9 — — 9 6 — — 6 Restricted cash equivalents 78 — — 78 79 — — 79 Municipal securities 489 2 (2 ) 489 174 1 — 175 Asset-backed securities 186 — — 186 180 — — 180 Residential mortgage-backed securities 75 2 — 77 84 1 — 85 Commercial mortgage-backed securities 26 — — 26 — — — — Cost and equity method investments 72 — — 72 68 — — 68 Life insurance contracts 16 — — 16 16 — — 16 Total $ 2,256 $ 10 $ (6 ) $ 2,260 $ 1,556 $ 5 $ (4 ) $ 1,557
Fair Value Of Available-For-Sale Investments With Gross Unrealized Losses By Investment Type And Length Of Time	The fair value of available-for-sale investments with gross unrealized losses by investment type and length of time that individual securities have been in a continuous unrealized loss position were as follows ($ in millions): September 30, 2015 December 31, 2014 Less Than 12 Months 12 Months or More Less Than 12 Months 12 Months or More Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government corporations and agencies $ — $ 68 $ — $ 16 $ — $ 72 $ (2 ) $ 180 Corporate securities (3 ) 317 (1 ) 41 (2 ) 311 — 1 Municipal securities (1 ) 120 (1 ) 5 — 20 — 7 Asset-backed securities — 68 — 13 — 70 — 10 Residential mortgage-backed securities — — — — — 18 — — Total $ (4 ) $ 573 $ (2 ) $ 75 $ (2 ) $ 491 $ (2 ) $ 198
Contractual Maturities Of Short-Term And Long-Term Investments And Restricted Deposits	The contractual maturities of short term and long term investments and restricted deposits are as follows ($ in millions): September 30, 2015 December 31, 2014 Investments Restricted Deposits Investments Restricted Deposits Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 162 $ 162 $ 95 $ 95 $ 176 $ 177 $ 92 $ 92 One year through five years 1,613 1,616 11 11 1,121 1,121 8 8 Five years through ten years 268 268 — — 121 120 — — Greater than ten years 107 108 — — 38 39 — — Total $ 2,150 $ 2,154 $ 106 $ 106 $ 1,456 $ 1,457 $ 100 $ 100

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements By Level For Assets And Liabilities Measured At Fair Value On A Recurring Basis	The following table summarizes fair value measurements by level at September 30, 2015 , for assets and liabilities measured at fair value on a recurring basis ($ in millions): Level I Level II Level III Total Assets Cash and cash equivalents $ 1,665 $ — $ — $ 1,665 Investments available for sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 437 $ 14 $ — $ 451 Corporate securities — 837 — 837 Municipal securities — 489 — 489 Asset-backed securities — 186 — 186 Residential mortgage-backed securities — 77 — 77 Commercial mortgage-backed securities — 26 — 26 Total investments $ 437 $ 1,629 $ — $ 2,066 Restricted deposits available for sale: Cash and cash equivalents $ 78 $ — $ — $ 78 Certificates of deposit 9 — — 9 U.S. Treasury securities and obligations of U.S. government corporations and agencies 19 — — 19 Total restricted deposits $ 106 $ — $ — $ 106 Other long term assets: Interest rate swap agreements $ — $ 18 $ — $ 18 Total assets at fair value $ 2,208 $ 1,647 $ — $ 3,855 The following table summarizes fair value measurements by level at December 31, 2014 , for assets and liabilities measured at fair value on a recurring basis ($ in millions): Level I Level II Level III Total Assets Cash and cash equivalents $ 1,610 $ — $ — $ 1,610 Investments available for sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 360 $ 17 $ — $ 377 Corporate securities — 556 — 556 Municipal securities — 175 — 175 Asset-backed securities — 180 — 180 Residential mortgage-backed securities — 85 — 85 Commercial mortgage-backed securities — — — — Total investments $ 360 $ 1,013 $ — $ 1,373 Restricted deposits available for sale: Cash and cash equivalents $ 79 $ — $ — $ 79 Certificates of deposit 6 — — 6 U.S. Treasury securities and obligations of U.S. government corporations and agencies 15 — — 15 Total restricted deposits $ 100 $ — $ — $ 100 Other long term assets: Interest rate swap agreements $ — $ 11 $ — $ 11 Total assets at fair value $ 2,070 $ 1,024 $ — $ 3,094

Health Insurance Marketplace He

Health Insurance Marketplace Health Insurance Marketplace (Tables)	9 Months Ended
	Sep. 30, 2015
Health Insurance Marketplace [Abstract]
Schedule of receivables (payables) related to the Health Insurance Marketplace programs	The Company's receivables (payables) for each of these programs are as follows ($ in millions): September 30, 2015 December 31, 2014 Risk adjustment $ (77 ) $ (44 ) Reinsurance 14 11 Risk corridor (31 ) (9 ) Minimum medical loss ratio (14 ) (6 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule Of Debt	Debt consists of the following ($ in millions): September 30, 2015 December 31, 2014 $425 million 5.75% Senior notes, due June 1, 2017 $ 428 $ 429 $500 million 4.75% Senior notes, due May 15, 2022 500 300 Fair value of interest rate swap agreements 18 11 Senior notes 946 740 Revolving credit agreement 275 75 Mortgage notes payable 68 70 Capital leases 7 8 Debt issuance costs (15 ) (14 ) Total debt 1,281 879 Less current portion (5 ) (5 ) Long term debt $ 1,276 $ 874

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Calculation Of Basic And Diluted Net Earnings Per Common Share	The following table sets forth the calculation of basic and diluted net earnings per common share ($ in millions, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Earnings attributable to Centene Corporation: Earnings from continuing operations, net of tax $ 92 $ 81 $ 244 $ 162 Discontinued operations, net of tax 1 1 — 2 Net earnings $ 93 $ 82 $ 244 $ 164 Shares used in computing per share amounts: Weighted average number of common shares outstanding 119,121,524 117,226,968 118,970,853 115,912,304 Common stock equivalents (as determined by applying the treasury stock method) 4,010,286 4,136,782 3,933,623 3,961,094 Weighted average number of common shares and potential dilutive common shares outstanding 123,131,810 121,363,750 122,904,476 119,873,398 Net earnings per common share attributable to Centene Corporation: Basic: Continuing operations $ 0.77 $ 0.69 $ 2.05 $ 1.40 Discontinued operations 0.01 0.01 — 0.01 Basic earnings per common share $ 0.78 $ 0.70 $ 2.05 $ 1.41 Diluted: Continuing operations $ 0.75 $ 0.67 $ 1.99 $ 1.35 Discontinued operations 0.01 0.01 — 0.02 Diluted earnings per common share $ 0.76 $ 0.68 $ 1.99 $ 1.37

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment information for the three months ended September 30, 2015 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 4,922 $ 541 $ — $ 5,463 Premium and service revenues from internal customers 24 1,274 (1,298 ) — Total premium and service revenues $ 4,946 $ 1,815 $ (1,298 ) $ 5,463 Earnings from operations $ 138 $ 45 $ — $ 183 Segment information for the three months ended September 30, 2014 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 3,730 $ 429 $ — $ 4,159 Premium and service revenues from internal customers 16 806 (822 ) — Total premium and service revenues $ 3,746 $ 1,235 $ (822 ) $ 4,159 Earnings from operations $ 80 $ 28 $ — $ 108 Segment information for the nine months ended September 30, 2015 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 13,812 $ 1,596 $ — $ 15,408 Premium and service revenues from internal customers 73 3,525 (3,598 ) — Total premium and service revenues $ 13,885 $ 5,121 $ (3,598 ) $ 15,408 Earnings from operations $ 358 $ 127 $ — $ 485 Segment information for the nine months ended September 30, 2014 , follows ($ in millions): Managed Care Specialty Services Eliminations Consolidated Total Premium and service revenues from external customers $ 9,925 $ 1,327 $ — $ 11,252 Premium and service revenues from internal customers 42 2,121 (2,163 ) — Total premium and service revenues $ 9,967 $ 3,448 $ (2,163 ) $ 11,252 Earnings from operations $ 188 $ 83 $ — $ 271

Basis Of Presentation (Details)

Basis Of Presentation (Details) $ in Millions	Feb. 19, 2015	Feb. 02, 2015	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock split conversion ratio		2
Percentage of common stock distributed as dividends	100.00%
New Accounting Pronouncement, Effect of adoption on balance sheet			$ 15	$ 14

Health Net Merger (Details)

Health Net Merger (Details) - Health Net, Inc. [Member] $ / shares in Units, $ in Billions	Jul. 02, 2015USD ($)subsidiary$ / sharesshares
Business Acquisition [Line Items]
Newly formed subsidiaries of Centene | subsidiary	2
Share exchange, per share	0.622
Cash to be paid, per share | $ / shares	$ 28.25
Consideration to be paid per agreement | $	$ 6.8

Acquisitions and Redeemable N31

Acquisitions and Redeemable Noncontrolling Interest Acquisitions and Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended		9 Months Ended
	Sep. 30, 2015	May. 31, 2015	Jan. 31, 2015	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Payment of contingent consideration obligation						$ 29	$ 0
Gain on settlement of contingent consideration						37	0
Goodwill	$ 849			$ 849		849		$ 754
Goodwill and intangible adjustment						28	$ 0
LiveHealthier, Inc. [Member]
Business Acquisition [Line Items]
Fair value of contingent consideration			$ 4
Percentage of acquisition			79.00%
Consideration transferred			$ 28
Total percentage of ownership after the acquisition			100.00%
Payments to acquire business			$ 11
Common stock issued for acquisition			$ 13
Contingent consideration, period of payout			3 years
Maximum contingent consideration			$ 9
Goodwill			26
Intangibles acquired			$ 15
Celtic Insurance Company [Member]
Business Acquisition [Line Items]
Ownership percentage sold by parent, percentage			25.00%
Proceeds from divestiture of businesses			$ 7
Fidelis SecureCare of Michigan, Inc. [Member]
Business Acquisition [Line Items]
Fair value of contingent consideration	23	$ 50		23		23
Gain on settlement of contingent consideration				27
Percentage of acquisition		100.00%
Consideration transferred		$ 57
Payments to acquire business		$ 7
Contingent consideration, period of payout		2 years
Goodwill	15	$ 29		15		15
Intangibles acquired		$ 23
Finite-Lived Intangible Assets, Net	7			7		7
Description of contingent consideration arrangement		duals membership and revenue per member during the first year of the contract (July 2015 - June 2016), including reconciliation payments settled over a two year period
Goodwill deductible for income tax , percentage		100.00%
Community Health Solutions [Member]
Business Acquisition [Line Items]
Fair value of contingent consideration								$ 18
Payment of contingent consideration obligation					$ 8
Gain on settlement of contingent consideration					$ 10
Agate Resources, Inc. [Member]
Business Acquisition [Line Items]
Fair value of contingent consideration	9			9		9
Consideration transferred	120
Payments to acquire business	93
Goodwill	51			51		51
Intangibles acquired	$ 34			34		34
Description of contingent consideration arrangement	A portion of the contingent consideration is based on the achievement of underwriting targets and will be paid in cash over a three year period; the remainder is based on the receipt of a retrospective rate adjustment and is expected to be settled in cash in the fourth quarter of 2015.
Present value of future consideration	$ 18			18		$ 18
Business Combination, Deferred Payment, Period of Payments	3 years
Contingent consideration based on achievement of underwriting targets, duration of cash payment	3 years
General and Administrative Expense [Member] | Fidelis SecureCare of Michigan, Inc. [Member]
Business Acquisition [Line Items]
Goodwill and intangible adjustment				$ 28

Acquisitions and Redeemable N32

Acquisitions and Redeemable Noncontrolling Interest Redeemable Noncontrolling Interest (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Opening balance	$ 148
Fair value of redeemable noncontrolling interest sold	7
Reclassification to redeemable noncontrolling interest	(1)
Net earnings attributable to redeemable noncontrolling interests	2
Closing balance	$ 156

Short-Term And Long-Term Inve33

Short-Term And Long-Term Investments And Restricted Deposits (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)position
Investments, Debt and Equity Securities [Abstract]
Percentage of investments in securities recorded at fair value that carry a rating by Moody's or S&P of AAA/Aaa	38.00%
Percentage of investments in securities recorded at fair value that carry a rating by Moody's or S&P of AA-/Aa3 or higher	62.00%
Percentage of investments in securities recorded at fair value that carry a rating by Moody's or S&P of A-/A3 or higher	88.00%
Positions from which gross unrealized losses were generated	202
Total unrealized investment positions	680
Income from equity method investments | $	$ 8
Percentage of investments recorded at fair value that carry rating of AA, weighted average (in years)	2 years

Short-Term And Long-Term Inve34

Short-Term And Long-Term Investments And Restricted Deposits (By Investment Type) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	$ 2,256	$ 1,556
Gross Unrealized Gains	10	5
Gross Unrealized Losses	(6)	(4)
Fair Value	2,260	1,557
U.S. Treasury Securities And Obligations Of U.S. Government Corporations And Agencies [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	468	393
Gross Unrealized Gains	2	1
Gross Unrealized Losses	0	(2)
Fair Value	470	392
Corporate Securities [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	837	556
Gross Unrealized Gains	4	2
Gross Unrealized Losses	(4)	(2)
Fair Value	837	556
Restricted Certificates Of Deposit [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	9	6
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	9	6
Restricted Cash Equivalents [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	78	79
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	78	79
Municipal Securities [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	489	174
Gross Unrealized Gains	2	1
Gross Unrealized Losses	(2)	0
Fair Value	489	175
Asset Backed Securities [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	186	180
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	186	180
Residential Mortgage Backed Securities [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	75	84
Gross Unrealized Gains	2	1
Gross Unrealized Losses	0	0
Fair Value	77	85
Commercial Mortgage Backed Securities [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	26	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	26	0
Cost And Equity Method Investments [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	72	68
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	72	68
Life Insurance Contracts [Member]
Schedule Of Investments And Restricted Deposits By Type [Line Items]
Amortized Cost	16	16
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 16	$ 16

Short-Term And Long-Term Inve35

Short-Term And Long-Term Investments And Restricted Deposits (Fair Value Of Available-For-Sale Investments With Gross Unrealized Losses By Investment Type And Length Of Time) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments	$ (4)	$ (2)
Less Than 12 Months, Fair Value	573	491
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments	(2)	(2)
12 Months or More, Fair Value	75	198
U.S. Treasury Securities And Obligations Of U.S. Government Corporations And Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments	0	0
Less Than 12 Months, Fair Value	68	72
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments	0	(2)
12 Months or More, Fair Value	16	180
Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments	(3)	(2)
Less Than 12 Months, Fair Value	317	311
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments	(1)	0
12 Months or More, Fair Value	41	1
Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments	(1)	0
Less Than 12 Months, Fair Value	120	20
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments	(1)	0
12 Months or More, Fair Value	5	7
Asset Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments	0	0
Less Than 12 Months, Fair Value	68	70
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments	0	0
12 Months or More, Fair Value	13	10
Residential Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments	0	0
Less Than 12 Months, Fair Value	0	18
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments	0	0
12 Months or More, Fair Value	$ 0	$ 0

Short-Term And Long-Term Inve36

Short-Term And Long-Term Investments And Restricted Deposits (Contractual Maturities Of Short-Term And Long-Term Investments And Restricted Deposits) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
One year or less, Amortized Cost	$ 162	$ 176
One year through five years, Amortized Cost	1,613	1,121
Five years through ten years, Amortized Cost	268	121
Greater than ten years, Amortized Cost	107	38
Total, Amortized Cost	2,150	1,456
One year or less, Fair Value	162	177
One year through five years, Fair Value	1,616	1,121
Five years through ten years, Fair Value	268	120
Greater than ten years, Fair Value	108	39
Total, Fair Value	2,154	1,457
Restricted Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
One year or less, Amortized Cost	95	92
One year through five years, Amortized Cost	11	8
Five years through ten years, Amortized Cost	0	0
Greater than ten years, Amortized Cost	0	0
Total, Amortized Cost	106	100
One year or less, Fair Value	95	92
One year through five years, Fair Value	11	8
Five years through ten years, Fair Value	0	0
Greater than ten years, Fair Value	0	0
Total, Fair Value	$ 106	$ 100

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements By Level For Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,665	$ 1,610
U.S. Treasury securities and obligations of U.S. government corporations and agencies	451	377
Corporate securities	837	556
Municipal securities	489	175
Asset-backed securities	186	180
Total investments	2,066	1,373
Cash and cash equivalents	78	79
Certificates of deposit	9	6
U.S. Treasury securities and obligations of U.S. government corporations and agencies	19	15
Total restricted deposits	106	100
Interest rate swap agreements	18	11
Total assets at fair value	3,855	3,094
Level I [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,665	1,610
U.S. Treasury securities and obligations of U.S. government corporations and agencies	437	360
Corporate securities	0	0
Municipal securities	0	0
Asset-backed securities	0	0
Total investments	437	360
Cash and cash equivalents	78	79
Certificates of deposit	9	6
U.S. Treasury securities and obligations of U.S. government corporations and agencies	19	15
Total restricted deposits	106	100
Interest rate swap agreements	0	0
Total assets at fair value	2,208	2,070
Level II [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
U.S. Treasury securities and obligations of U.S. government corporations and agencies	14	17
Corporate securities	837	556
Municipal securities	489	175
Asset-backed securities	186	180
Total investments	1,629	1,013
Cash and cash equivalents	0	0
Certificates of deposit	0	0
U.S. Treasury securities and obligations of U.S. government corporations and agencies	0	0
Total restricted deposits	0	0
Interest rate swap agreements	18	11
Total assets at fair value	1,647	1,024
Level III [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
U.S. Treasury securities and obligations of U.S. government corporations and agencies	0	0
Corporate securities	0	0
Municipal securities	0	0
Asset-backed securities	0	0
Total investments	0	0
Cash and cash equivalents	0	0
Certificates of deposit	0	0
U.S. Treasury securities and obligations of U.S. government corporations and agencies	0	0
Total restricted deposits	0	0
Interest rate swap agreements	0	0
Total assets at fair value	0	0
Residential Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	77	85
Residential Mortgage Backed Securities [Member] | Level I [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Residential Mortgage Backed Securities [Member] | Level II [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	77	85
Residential Mortgage Backed Securities [Member] | Level III [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Commercial Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	26	0
Commercial Mortgage Backed Securities [Member] | Level I [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Commercial Mortgage Backed Securities [Member] | Level II [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	26	0
Commercial Mortgage Backed Securities [Member] | Level III [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Transfers from Level I to Level II	$ 1
Transfers from Level II to Level I	2
Life insurance contracts and other non-majority owned investments, fair value	$ 88	$ 84

Health Insurance Marketplace (D

Health Insurance Marketplace (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Health Insurance Marketplace [Abstract]
Risk adjustment	$ (77)	$ (44)
Reinsurance	14	11
Risk corridor	(31)	(9)
Minimum medical loss ratio	$ (14)	$ (6)

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Fair value of interest rate swap agreements	$ 18	$ 11
Senior notes	946	740
Revolving credit agreement	275	75
Mortgage notes payable	68	70
Capital leases	7	8
Debt issuance costs	(15)	(14)
Total debt	1,281	879
Less current portion	(5)	(5)
Long term debt	1,276	874
5.75% Senior Notes, Due June 1, 2017 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
$425 million 5.75% Senior notes, due June 1, 2017	428	429
Debt, face amount	$ 425	$ 425
Interest rate, stated	5.75%	5.75%
4.75% Senior Notes, Due on May 15, 2022 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
$500 million 4.75% Senior notes, due May 15, 2022	$ 500	$ 300
Debt, face amount	$ 500	$ 500
Interest rate, stated	4.75%	4.75%

Debt (Narrative) (Details)

Debt (Narrative) (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2015EUR (€)	Sep. 30, 2015USD ($)	Jan. 31, 2015USD ($)	Dec. 31, 2014	Apr. 30, 2014USD ($)
Debt Instrument [Line Items]
Derivative, notional amount			$ 200
Revolving credit facility, maximum borrowing capacity		$ 500
Revolving credit facility, due date	Jun. 1, 2018
Line of credit, minimum carrying amount of unrestricted cash		$ 100
Line of credit facility, covenant terms	The agreement contains non-financial and financial covenants, including requirements of minimum fixed charge coverage ratios, maximum debt-to-EBITDA ratios and minimum tangible net worth. The Company is required to not exceed a maximum debt-to-EBITDA ratio of 3.0 to 1.0.
Ratio of debt to EBITDA	3
Weighted average interest rate	3.01%	3.01%
Senior notes, effective yield	1.55%	1.55%
Maximum exposure, undiscounted		$ 304
4.75% Add-on Notes [Member]
Debt Instrument [Line Items]
Senior notes, at par			$ 200		$ 300
Interest rate, stated			4.75%		4.75%
5.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, at par		425
4.75% Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes, at par		500
Ribera Salud [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount	€ 46	52
Non Revolver Letter of Credit [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 46
$200 Million Interest Rate Swap [Member]
Debt Instrument [Line Items]
Variable rate of swap, percentage	2.88%	2.88%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Derivative, notional amount		$ 750
Variable rate of swap, percentage	2.85%	2.85%
Weighted average interest rate, interest rate swap agreements	3.16%	3.16%
June 1, 2017 Expiration [Member]
Debt Instrument [Line Items]
Derivative, notional amount		$ 250
Interest rate swap agreements expire date	Jun. 1, 2017
May 15, 2022 Expiration [Member]
Debt Instrument [Line Items]
Derivative, notional amount		$ 500
Interest rate swap agreements expire date	May 15, 2022
5.75% Senior Notes, Due June 1, 2017 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated	5.75%	5.75%		5.75%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Earnings from continuing operations, net of tax	$ 92	$ 81	$ 244	$ 162
Discontinued operations, net of tax	1	1	0	2
Net earnings attributable to Centene Corporation	$ 93	$ 82	$ 244	$ 164
Weighted average number of common shares outstanding (in shares)	119,121,524	117,226,968	118,970,853	115,912,304
Common stock equivalents (as determined by applying the treasury stock method) (in shares)	4,010,286	4,136,782	3,933,623	3,961,094
Weighted average number of common shares and potential dilutive common shares outstanding (in shares)	123,131,810	121,363,750	122,904,476	119,873,398
Basic:
Continuing operations (in dollar per share)	$ 0.77	$ 0.69	$ 2.05	$ 1.40
Discontinued operations (in dollar per share)	0.01	0.01	0	0.01
Basic earnings per common share (in dollar per share)	0.78	0.70	2.05	1.41
Diluted:
Continuing operations (in dollar per share)	0.75	0.67	1.99	1.35
Discontinued operations (in dollar per share)	0.01	0.01	0	0.02
Diluted earnings per common share ( in dollar per share)	$ 0.76	$ 0.68	$ 1.99	$ 1.37
Anti-dilutive restricted stock and restricted stock units excluded from the calculation of diluted earnings per common share ( in shares)	28,716	47,520	84,644	117,756

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Number of reportable segments | segment			2
Revenues	$ 5,821	$ 4,352	$ 16,458	$ 11,836
Premium and service revenues	5,463	4,159	15,408	11,252
Earnings from operations	183	108	485	271
Intersegment Eliminations [Member]
Premium and service revenues	(1,298)	(822)	(3,598)	(2,163)
Earnings from operations	0	0	0	0
Operating Segments [Member] | Medicaid Managed Care [Member]
Premium and service revenues	4,946	3,746	13,885	9,967
Earnings from operations	138	80	358	188
Operating Segments [Member] | Specialty Services [Member]
Premium and service revenues	1,815	1,235	5,121	3,448
Earnings from operations	45	28	127	83
Internal Customer [Member]
Revenues	0	0	0	0
Internal Customer [Member] | Intersegment Eliminations [Member]
Revenues	(1,298)	(822)	(3,598)	(2,163)
Internal Customer [Member] | Operating Segments [Member] | Medicaid Managed Care [Member]
Revenues	24	16	73	42
Internal Customer [Member] | Operating Segments [Member] | Specialty Services [Member]
Revenues	1,274	806	3,525	2,121
External Customer [Member]
Revenues	5,463	4,159	15,408	11,252
External Customer [Member] | Intersegment Eliminations [Member]
Revenues	0	0	0	0
External Customer [Member] | Operating Segments [Member] | Medicaid Managed Care [Member]
Revenues	4,922	3,730	13,812	9,925
External Customer [Member] | Operating Segments [Member] | Specialty Services [Member]
Revenues	$ 541	$ 429	$ 1,596	$ 1,327

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Mar. 09, 2015
Loss Contingencies [Line Items]
Kentucky Spirit performance bond	$ 25
Commonwealth of Kentucky alleged increased program costs - low end of range	28
Commonwealth of Kentucky alleged increased program costs - high end of range	40
Commonwealth of Kentucky alleged associated CMS expenditures - low end of range	92
Commonwealth of Kentucky alleged associated CMS expenditures - high end of range	$ 134
Secretary of the Kentucky Cabinet for Health and Family Services determination letter damages		$ 40
Secretary of the Kentucky Cabinet for Health and Family Services determination letter damages prejudgment interest rate		8.00%
Loss contingency, allegations	On July 5, 2013, the Company's subsidiary, Kentucky Spirit Health Plan, Inc. (Kentucky Spirit), terminated its contract with the Commonwealth of Kentucky (the Commonwealth). Kentucky Spirit believes it had a contractual right to terminate the contract and filed a lawsuit in Franklin Circuit Court seeking a declaration of this right. The Commonwealth has alleged that Kentucky Spirit's exit constitutes a material breach of contract.  The Commonwealth seeks to recover substantial damages and to enforce its rights under Kentucky Spirit's $25 million performance bond. The Commonwealth's attorneys have asserted that the Commonwealth's expenditures due to Kentucky Spirit's departure range from $28 million to $40 million plus interest, and that the associated CMS expenditures range from $92 million to $134 million. Kentucky Spirit disputes the Commonwealth's alleged damages, and is pursuing its own litigation claims for damages against the Commonwealth. On February 6, 2015, the Kentucky Court of Appeals affirmed a Franklin Circuit Court ruling that Kentucky Spirit does not have a contractual right to terminate the contract early. The Court of Appeals also found that the contract’s liquidated damages provision “is applicable in the event of a premature termination of the Contract term.” On September 8, 2015, Kentucky Spirit filed a motion for discretionary review seeking Kentucky Supreme Court review of the finding that Kentucky Spirit's departure constituted a breach of contract. On October 9, 2015, the Commonwealth filed a response opposing discretionary review. Kentucky Spirit also filed a lawsuit in April 2013, amended in October 2014, in Franklin Circuit Court seeking damages against the Commonwealth for losses sustained due to the Commonwealth's alleged breaches. On December 9, 2014, the Franklin Circuit Court denied the Commonwealth's motion for partial summary judgment on Kentucky Spirit's damages claims. On March 15, 2015, the Franklin Circuit Court denied the Commonwealth's motion to stay discovery and ordered that discovery proceed on those claims.
Inestimable loss	The resolution of the Kentucky litigation matters may result in a range of possible outcomes.  If Kentucky Spirit prevails on its claims, it would be entitled to damages.  If the Commonwealth prevails, a liability to the Commonwealth could be recorded.  The Company is unable to estimate the ultimate outcome resulting from the Kentucky litigation.  As a result, the Company has not recorded any receivable or any liability for potential damages under the contract as of September 30, 2015.  While uncertain, the ultimate resolution of the pending litigation could have a material effect on the financial position, cash flow or results of operations of the Company in the period it is resolved or becomes known.

Subsequent Events (Details)

Subsequent Events (Details) - shares	Oct. 27, 2015	Sep. 30, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Common stock, shares authorized (in shares)		200,000,000	200,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares)	400,000,000