Centene's Subsidiary, Health Net, Announces Settlement Regarding Employee Severance Agreements

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Aug 16, 2016, 04:58 ET

ST. LOUIS, Aug. 16, 2016 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that its wholly-owned subsidiary, Health Net, Inc. (Health Net), entered into an agreement with the Securities and Exchange Commission (the "SEC"), to resolve allegations of Health Net violations related to Rule 21F-17 of the Securities Exchange Act (the Dodd Frank Whistleblower Rule) in connection with severance agreements. These alleged issues occurred prior to the acquisition of Health Net by Centene. Health Net is no longer an SEC-reporting entity. Centene was not a party to these issues.

About Centene Corporation
Centene Corporation, a Fortune 500 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long Term Care (LTC), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as "Part D"), as well as programs with the U.S. Department of Defense and U.S. Department of Veterans Affairs. Centene operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, in-home health services, life and health management, managed vision, pharmacy benefits management, specialty pharmacy and telehealth services.

Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, http://www.centene.com/investors.

SOURCE Centene Corporation