Carriers & the market
Centene Says WellCare's Medicare Business Will Break Even in 2026, a Year Ahead of Schedule
Third-quarter results showed lower-than-expected medical costs in Medicare Advantage and Part D, pulling Centene's recovery target forward by a full year as Medicare open enrollment continues.
By the Goodsurance editorial teamOctober 28, 2026
Centene Corporation, the parent company of WellCare Health Plans, reported third-quarter 2026 financial results on October 27 showing its Medicare business has recovered faster than the company had expected.
Centene said it now expects its Medicare Advantage and Part D prescription drug plan segment to reach break-even financial results in 2026, one year ahead of the timeline it had previously communicated. Earlier in 2026, the company had projected that milestone would not arrive until 2027.
WellCare's parent company now expects its Medicare Advantage business to break even in 2026, one year ahead of its own schedule.
The improvement was driven by lower-than-expected medical costs in the Medicare segment during the third quarter. Centene attributed the gains to what it described as disciplined management of its Medicare business and a favorable medical cost experience.
Centene also raised its full-year 2026 adjusted earnings guidance for the third time this year. Alongside the earnings report, the company announced plans to cut roughly 6,000 jobs as part of a broader restructuring effort.
WellCare operates Medicare Advantage and Part D plans across many states and is among the larger plan sponsors active during the current open enrollment window, which runs October 15 through December 7, 2026. Beneficiaries comparing 2027 coverage options can review all available plans, including WellCare offerings where available, at Medicare.gov or by calling 1-800-MEDICARE.
In plain words
WellCare is a Medicare plan company owned by Centene. On October 27, Centene said its Medicare plans are doing better than expected. Costs for doctor visits and hospital care came in lower than Centene thought they would during the summer of 2026. Because of that, Centene now expects to stop losing money on its Medicare plans by the end of 2026, a year sooner than it had planned. The company also said it will cut about 6,000 jobs. If you are shopping for a Medicare plan right now, open enrollment runs until December 7. You can compare all your choices at Medicare.gov.
Understand the basics first
Source: Centene Corporation (SEC 8-K)
Read at the source →