Centene

Published: Sep 24, 2013 8:14 AM EDT

ST. LOUIS (AP) - Medicaid coverage provider Centene Corp. said Tuesday that Florida plans to award it a contract to provide coverage for the state and federally funded program in most of the state's regions.
    
The St. Louis company said the Florida Agency for Health Care Administration will award a contract for the state's Managed Medical Assistance program to Centene's subsidiary Sunshine State Health Plan. The subsidiary will serve nine of the 11 regions covered under the state's Medicaid managed care program.
    
Enrollment is expected to start in next year's second quarter and should be completed by October 2014.
    
Medicaid is the state and federally funded program that provides health coverage to poor and disabled people. States typically hire private insurers to administer the coverage.  People covered by Medicaid make up the largest portion of enrollment for Centene, which also does business in Texas, Mississippi, Kansas and Missouri, among other states.
    
Shares of Centene closed at $61.19 on Monday and have climbed 49 percent so far this year.