Centene Corporation reached a $67 million settlement with the state of Florida in an overbilling dispute related to its Medicaid contracts. As part of the agreement, Centene will donate $10 million to the Hope Florida Foundation.
This settlement addresses allegations of overbilling in the administration of Medicaid pharmaceutical benefits. The resolution of such disputes is a material financial event for the company, impacting its cash flow and legal expenses.
The settlement with Florida follows similar agreements with other states, including Ohio for $88.3 million and Mississippi for $55.5 million, as well as 11 other states for an aggregate of $596 million, related to Medicaid pharmaceutical benefits administration.
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