Missouri's biggest individual insurer must rebate almost $90 million to policyholders because it spent too little on care and too much on administration.

A subsidiary of Clayton-based Centene Corp., Ambetter from Home State Health, is mailing checks totaling $87.5 million to Missouri customers because it violated requirements of the Affordable Care Act.

Letters dated Sept. 10 notifying policyholders of the rebates — equal to more than one month's premium for each — began arriving in mailboxes over the weekend.

The news may add to Centene's financial woes. Last quarter, the company reported a $253 million loss, compared to a $1.15 billion profit in the same quarter last year. Revenues rose to $48.7 billion in the second quarter this year, up 22% from $39.8 billion in the same period last

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