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Molina Healthcare Selected For Nebraska Medicaid Managed Care Program
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Rhea-AI Summary
Molina Healthcare, Inc. (NYSE: MOH) announced that its subsidiary, Molina Healthcare of Nebraska, has been selected by the Nebraska Department of Health and Human Services to provide Medicaid services. The new five-year contract begins on January 1, 2024, and will cover approximately 360,000 Medicaid beneficiaries. Molina, ranked 125 in the FORTUNE 500, serves roughly 5.1 million members as of June 30, 2022.
Positive
Molina Healthcare of Nebraska awarded a five-year contract to provide Medicaid services.
Contract expected to start on January 1, 2024, covering around 360,000 beneficiaries.
Negative
Potential risks include successful protests or legal actions delaying contract start date.
LONG BEACH, Calif.--(BUSINESS WIRE)--
Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) today announced that its health plan subsidiary, Molina Healthcare of Nebraska, has been selected by the Nebraska Department of Health and Human Services (DHHS) to provide health care services to Nebraskans under the state’s Medicaid managed care program.
The new five-year contract for Molina’s Nebraska health plan is expected to begin January 1, 2024. Molina Healthcare of Nebraska is one of three managed care organizations selected to offer health care coverage to approximately 360,000 Medicaid beneficiaries in the state.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company (currently ranked 125), provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 5.1 million members as of June 30, 2022. For more information about Molina Healthcare, please visit molinahealthcare.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements regarding DHHS’s selection of Molina Healthcare of Nebraska. All forward-looking statements are based on the Company’s current expectations that are subject to numerous risks and uncertainties that could cause actual results to differ materially. Such risks include, without limitation, a successful protest or legal action, or a delay in the start date for the contract. Given these risks and uncertainties, Molina cannot give assurances that its forward-looking statements will prove to be accurate. Information regarding the other risk factors to which the Company is subject is provided in greater detail in its periodic reports and filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of the Company’s website or on the SEC’s website at sec.gov.
What new contract has Molina Healthcare secured in Nebraska?
Molina Healthcare of Nebraska has been awarded a five-year contract by the Nebraska Department of Health and Human Services to provide Medicaid services.
When will the new Medicaid contract for Molina Healthcare begin?
The new Medicaid contract for Molina Healthcare will begin on January 1, 2024.
How many beneficiaries will Molina Healthcare serve under the new Nebraska contract?
Molina Healthcare will serve approximately 360,000 Medicaid beneficiaries under the new contract.
What is the significance of the contract awarded to Molina Healthcare in Nebraska?
The contract solidifies Molina's position as a major provider in Nebraska's Medicaid managed care program.
