By Dave Sebastian
Centene Corp. said it has reached no-fault agreements with the attorneys general of Ohio and Mississippi to resolve the states' claims related to services provided by the company's pharmacy-benefits manager unit, Envolve Pharmacy Solutions Inc.
The health insurer on Monday said it would pay $88 million to Ohio and $55 million to Mississippi under the agreements. Practices described in the settlement focus on the structure and processes of Envolve mainly during 2017 and 2018, the company said. Centene said it denies liability for any of the practices.
The Ohio attorney general's litigation against the company would be dismissed as part of the settlement, Centene said.
Centene said it is in discussions with a plaintiff's group led by law firms Liston & Deas and Cohen Milstein Sellers & Toll PLLC to bring final resolution to the concerns in other affected states. The company said it has recorded a reserve estimate of $1.1 billion related to the issue, exclusive of the settlements.
Write to Dave Sebastian at firstname.lastname@example.org
Corrections & Amplifications
This item was corrected on June 15, 2021 to show that the name of law firm Cohen Milstein Sellers & Toll PLLC was abbreviated as Cohen Milstein.
(END) Dow Jones Newswires