Centene Corporation (NYSE: CNC) announced recently that its subsidiary, Kentucky Spirit Health Plan, Inc. (Kentucky Spirit), has settled all lawsuits and complaints associated with its contract with the Commonwealth of Kentucky (the Commonwealth).
Under the terms of the settlement agreement, Kentucky Spirit will receive an immaterial cash payment from the Commonwealth’s actuarial firm and each party will dismiss all claims related to the litigation with prejudice. In addition, the parties agree that neither party acted in bad faith, that they took reasonable positions in light of the applicable contractual language and that the parties acted in good faith in attempting to address a difficult situation.