Molina Healthcare Provides Update on the Virginia Cardinal Care Managed Care Contract

LONG BEACH, Calif.--(BUSINESS WIRE)-- Molina Healthcare, Inc. (NYSE: MOH) (“Molina” or the “Company”) announced today that its Virginia health plan subsidiary, Molina Healthcare of Virginia, was not selected as an awardee in the Commonwealth of Virginia’s Cardinal Care Managed Care program. The current contract is expected to continue into the summer of 2024. Molina Healthcare of Virginia currently serves approximately 140,000 members.

The Company will evaluate next steps as further information becomes available.

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. For more information about Molina Healthcare, please visit MolinaHealthcare.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240229897961/en/

Investor Contact: Jeffrey Geyer, Jeffrey.Geyer@molinahealthcare.com, 305-317-3012

Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588

Source: Molina Healthcare, Inc.

FAQ

What was the recent announcement made by Molina Healthcare, Inc. (NYSE: MOH)?

Molina Healthcare, Inc. announced that its Virginia health plan subsidiary was not selected as an awardee in the Commonwealth of Virginia's Cardinal Care Managed Care program.

How many members does Molina Healthcare of Virginia currently serve?

Molina Healthcare of Virginia serves approximately 140,000 members.

What is the duration of the current contract for Molina Healthcare of Virginia?

The current contract is expected to continue until the summer of 2024.

What is the next step for Molina Healthcare, Inc. after not being selected as an awardee in the Cardinal Care Managed Care program?

The Company will evaluate next steps as further information becomes available.