NEW YORK, May 31 (Reuters) - Health insurer Centene's ( CNC )

chief executive said on Friday that turnover in people enrolled

in Medicaid plans had led to a shift to sicker patients in its

membership, but stood by its 2024 earnings and cost forecasts.

Centene ( CNC ) CEO Sarah London said that around 30% of Medicaid

recipients who lost their membership when re-enrollment started

last year had been taken off the list inappropriately.

Their return now is causing uncertainty, she said at a

Bernstein investor conference. The decline in enrolled members

was also a factor, she added.

From Nov. 24 through Thursday, Centene ( CNC ) shares have fallen

9%. Over that same period, UnitedHealth ( UNH ) and Humana

shares are off 6.2% and 2%, respectively.

UnitedHealth ( UNH ) shares fell on Wednesday after the insurer said

medical services used by its Medicaid members could drive up

costs.

UnitedHealth ( UNH ) is paying close attention to the performance of

its Medicaid business due to the program's membership turnover

over multiple quarters, CEO Andrew Witty said at the Bernstein

conference.

Centene ( CNC ) Chief Financial Officer Drew Asher said the company

believed it could adjust its 2025 Medicaid contract bids to

account for the change in use of health services.

During the COVID-19 pandemic, from March 2020 insurers were

required to keep Medicaid members enrolled. States began

redetermining eligibility for the program for low income

Americans in 2023 following termination of that policy, and the

process is still underway for some.

In addition to Medicaid plans, Centene ( CNC ) manages health

insurance plans for the U.S. Medicare program for people aged 65

and older or those with disabilities. Two-thirds of states for

which the insurer manages coverage have completed their

re-enrollment cycle, the CEO said.