Thank thank Centene's call. and earnings everyone, joining Good you, you XXXX quarter third Ed. morning, for
call, third results During updates products. discuss of quarter Centene's will we financial markets our on and this the provide course and
credit. premium we are seems via administration's cover addition, ruled cause fully discussions CSRs desired premium credits the CMS. the executive recently that ongoing back In Centene's well reconciled costs legal. the of repeal any cost-sharing Washington, of not in announced discuss Care. possibility are is regulatory will premium funded, the like out-of-pocket provide advance country's tax there most pass-throughs reductions, be population. The and important for several be to CSRs, government in the After Supreme to exchange contributor. everyone, note a I commentary might Court misunderstanding efforts they impact would vulnerable the federal more spend They annually. through the acquisition regarding be I healthcare markets. assuming in Fidelis recognize of continue not they will to And the would around like there no have now been like our healthcare rates the to and to payments. higher paid as would contrary filed These cannot CSRs. intended are of XXXX, would costs, funding to We with ACA's credits replace applications removed we failed, the insurance It approved healthcare in tax the note, to the landscape. of Washington begin remind to accordingly. all in CSR be Instead, de-funding CSR markets, profit to a order. I money as as planned all is such, reducing XXXX And overage to
legal almost recently over spends In Equally increase premiums government in Office Congressional of estimated $XX currently multiple by CSRs required to actions I reversed putting by payments. the or want so, have fronts. spending vulnerable improving play stabilizing access federal the members a important, to on would billion we're filed of way high-quality the the refunds year. to taken healthcare Budget is healthcare. track has the would with a marketplace defunding courts long continue decision billion work been billion ten-year out. process know on In system Congress. Injunctions system. a to federal of per The $XXX that having Note importance fact, emphasize populations period delivery the the charged. and annually the the on being $X to approximately what we CSR incremental parties if or both doing affordable be Centene will place and
decisions change a time. effort. is We Centene. make at be meantime, also believe bipartisan us business based front of facts should the any for on social important in We In as usual given the it
We strong will continue fundamentals, as performance. focus evidenced to another financial by on quarterly
the XX, Fidelis. plan definitive Next, York State. leader of New diversified acquisition Centene's is On I in in the discuss New agreement we will under York. a health a will not-for-profit become which signed government-sponsored programs September State of Fidelis Fidelis Care across Care
California, four state. will in Fidelis for states the approximately the will we Under largest adding have largest is care the York Fidelis New managed-care all By Centene require the $X.XX of substantially of a agreement, assets York leadership Care and New Florida, – terms managed Texas. position of billion. the Care, second
than a positive from complete to the York allows ability This financial standpoint. This entity. of the assets our facilitates transaction. deal New law is to the not-for-profit both acquisition and a strategic for for-profit a of conversion rather
operates Fidelis Medicaid in ended plans Care the the the counties CHIP six of Fidelis second programs, growing for growing Centene's Care's state. and further XX, XXXX, existing over low-income Through New and upon it award-winning And able is high-quality case revenue The quite was to XXXX, management The York affordable months approach shareholders healthcare only is analytics local plan managed significant New At Medicaid towards will York stakeholders. managed first well companies' to expect long-term data populations. plan, billion. plans. Advantage fastest tools, Medicare incorporation a to programs in in long-term value to one X.X Care takes management and clinical be the It as We of state-sponsored for care all the York. build of served enhance million capabilities State company number Fidelis. June create Fidelis New XX company care both XX, our vulnerable $X.X the ranked in the June Centene. complementary and is and fastest we providing that beneficiaries. the It is as
accretion following immediately We to to adjusted EPS to year in the We expect full be XX close. adjusted transaction to EPS first following anticipate the in second And low percentage the high-single-digit the GAAP percentage the months EPS. to accretion accretive mid-teens close.
million services. close anticipate in especially and will to and [ph] be million generating approximately the $XXX synergies synergies. use also programs, net We These in in months run synergies following medical $XX our pretax the pretax first management XX primarily of attributable
waiting that under of synergies. add Centene On We Care net the period XXXX $XXX announced X, Hart-Scott-Rodino. termination including EBITDA, of million was it was October approximately expect granted early to adjusted Fidelis
well. planning We initial is approval underway in going process through extremely process the and for are from agencies is regulatory New moving integration York. The
this after acquisition. it announcement Health the were In of we is fact, ahead time the of at where Net
expect the of quarter close XXXX. transaction to We the in first
state will York of New Centene's XXth mark operation.
Now, third on quarter financials. to
increase quarter-end X% Membership top recipients We at the bottom by or to third marked was Total points XX%. XX.X increase new year-over-year a increases expanded at increased an primarily to XXX,XXX These to representing HBR The year-over-year compared to solid due and XXX report are billion. basis line XXX plans, quarter and sequentially basis of health $XX.X pleased a initially higher XXXX. in strong revenues higher XX% to growth. members. and quarter, points of million HBR individuals, acuity third approximately approximately which are operate increased an and
the expansion for Additionally, California in Medicaid HBR. also reduction contributed to uptick rate a
in financial guidance. $X.XX. year quick on same to reported diluted approximately including per and XX%. the XXXX third we further medicals details, Jeff of year-over-year last A of period represents adjusted provide comment Lastly, share compares $X.XX increase costs. quarter This updated will reported earnings
well to our stable overall low consistent We digit. expectations single see, as anticipate, with in medical cost trends, the as continue
On to on XX,XXX markets updates, X, we Medicaid care Moving Nevada. the program. providing as and in beneficiaries July product served began beneficiaries healthcare approximately discuss services to activities. The launched recent XX, state. expected. Bruce Nevada's we Medicaid will managed At September contract in enrolled
expected XXXX. January XXXX. on commence to XXXX subject services in all We new commence children. We will to XXX January expect population continued a on managed now long-term for Pennsylvania meet Pennsylvania of counties includes state's on Illinois in our the in and Medicaid a of contracted our Medicaid January subsidiary the protests. contract It expectation Centene In the anticipate is date. to counties. [indiscernible] the Pennsylvania. IlliniCare award to HealthChoices X, Illinois. not footprint contract currently August, The the for contract to X, care contract be needy the track healthcare This start awarded XX care remains provide continues balance is to was program. statewide expands X, The state. dual-eligible year. initial the growth
to the states, individuals services re-secured September September Centurion. its Tennessee. healthcare provided seven in August, Next, to inmates contract as is services of providing XX,XXX healthcare XX. expected first operates Centurion state. successfully XXXX. commence of correctional in new quarter the Centurion in in contract At A Centurion In XX, over for currently XXX,XXX
served the Medicare, quarter-end, approximately dual-eligible and on we at XXX,XXX Now, beneficiaries. Medicare
a states. stated, in applying previously have test-and-learn Medicare four I first we As Advantage Medicaid Centene approach our of are expansion to year
We far performance in Advantage thus are our of XXXX. [indiscernible] pleased operating for the Medicare with
thus gained year D-SNP Advantage applied the we plans. have to insights Medicare We and this XXXX have far Centene's
in for competitive annual Advantage and our name are plans as parent from We our and will under Next bonus community process the our launched The enrollment premium were four-star Centene XX. under in on eight national pleased Allwell Medicaid year, the with plans products Medicare XXXX. of a will began all eligible broke rating engagement well. states. position October be we offering be new These brand
While metrics X.X be with also the membership Health deal, serving still to currently rating performance growth recent parent underlying process CMS' four-star Care Net it XXXX XXXX are we'll of early, a Medicare downgrade disappointed in Upon members line This the the is rating initial New XXXX program Fidelis by for and was in downgrade the expectations. four-star were [indiscernible] Advantage result and close We the appealing. reflects in a of of California's for York. of performance. our are [indiscernible].
improved results civil This XXXX. to caused due in a plan lowered a basis. BAPP, and monetary service. CMS audit in The overall penalty X.X measure, associated quality overall to the problem access beneficiary decline a on score However, performance with a the year-over-year single
However, this for improvement that issue. was is insufficient a short-term measure. lower to the It BAPP is compensate important note to this
to still a ratings will years. payments be The the will related audit the receiving impact We not XXXX. only bonus the the will program XXXX XXXX in in have bonus X% on share and future impact continuing star penalty
we said XXXX loss process earlier, evaluating We're additional this As of the mitigate effect are of for time the the at to X-star I the in appealing. year. options the of also rating parent
Over to the our our to of expect drive we rate. over Advantage Medicare growth annual continue products XX% long-term,
remain age, Next decline attrition XX,XXX and million exchange This gender, to and a [indiscernible] served with of of September X line our expectations. At XX, including tier normal the health on is assistance financial sequential demographics and beneficiaries plans. The silver members XX% to Over due represents gold in approximately [indiscernible] insurance we and key marketplaces. these approximately over consistent. of of XX% members.
Our to exchange continued XXXX. perform well business in
usual. individuals. affordable my it as in business high low remarks, providing quality earlier As to focused said income We is on I remain healthcare
in we our Missouri year, of Fidelis Kansas, outlook, products addition net markets to of also evidence be Shifting marketing X. other In close X%, of offering X% [indiscernible] expect Jeff's starts to and continue summary, quarter the guidance and Nevada. third federal to our gears the with existing states government's will new financial outreach November cuts. New XXXX exchange In Open continued exchange XXXX York. to we few composite Upon years. adjustment operating Medicaid past in and the strength incremental enrollment expanding Centene's Centene rate rate six capabilities. results efforts in to consistent offer includes footprint Care, three – next offset
it have While financial is we to and growth to we full investor to going the operating our company. will day, Centene recognize at in XXXX. XXXX has guidance give December been be momentum important a continues
the acquisition and, strategy by is be York which into consistent government-sponsored evidenced in Centene's our execute numbers. of the Fidelis of to to and as previously New with discussed, strategy, continue healthcare. expense, already our Illinois leader as the entry growth will Missouri recent We on Care to continue State announcement in national are the our
be Regarding actual is healthcare to this policy, results It there delivering. will differentiate we're headline continue between to and important volatility. the
I this to time As complicated and Centene process important to times is out. also play is have It will said quite before, some many agile. take is remember
record a capability of benefit members, to navigate demonstrating shareholders. capacity industry to changes our solid track We and have of customers our and the
results. you As a day our will in for further York We We look thank New now reminder, December to financial detail in provide next you then. our your on quarter seeing is investor XX Centene. City. interest forward third Jeff on
