Welcome to our dedicated page for Molina Healthcare news (Ticker: MOH), a resource for investors and traders seeking the latest updates and insights on Molina Healthcare stock.
Molina Healthcare, Inc. (NYSE: MOH) is a prominent Fortune 500 company dedicated to providing government-sponsored health care programs to families and individuals. The company partners with state governments to offer a broad range of quality health care services, specializing in Medicaid and Medicare plans.
Molina Healthcare operates through a network of subsidiaries structured as health maintenance organizations (HMOs), ensuring coverage and care to those in need. Currently, Molina serves members across multiple states, including California, Florida, Illinois, Michigan, New Mexico, Ohio, South Carolina, Texas, Utah, Washington, Wisconsin, as well as Puerto Rico. The company also manages primary care clinics in California, Florida, New Mexico, Washington, and Virginia, offering essential services such as prenatal care, immunizations, and flu shots.
The company operates in four key segments:
- Medicaid: Providing managed healthcare solutions for low-income families and individuals.
- Medicare: Serving the elderly and individuals with disabilities who qualify for government-sponsored programs.
- Marketplace: Offering health plans through government-sponsored exchanges.
- Others: Includes long-term services and supports consultative services in Wisconsin.
Molina Healthcare has been selected for several state duals demonstration projects, managing care for individuals eligible for both Medicaid and Medicare. The company generates the majority of its revenue from the Medicaid segment, reflecting its strong presence and expertise in this area.
With a focus on providing accessible and cost-effective healthcare, Molina Healthcare continues to grow and adapt, remaining committed to improving the health and well-being of the communities it serves.
Molina Healthcare (NYSE: MOH) has announced a definitive agreement to acquire ConnectiCare for $350 million, representing 25% of ConnectiCare's expected 2024 premium revenue of $1.4 billion. ConnectiCare, a leading health plan in Connecticut, serves approximately 140,000 members across Marketplace, Medicare, and certain commercial products. This acquisition expands Molina's presence into Connecticut and is expected to add $1.00 per share to new store embedded earnings.
The transaction aligns with Molina's strategy of acquiring stable revenue streams and deploying capital efficiently. Molina plans to fund the purchase with cash on hand. The deal is subject to regulatory approvals and is expected to close in the first half of 2025.
Molina Healthcare (NYSE: MOH) has been awarded a new Medicaid managed care contract by the Florida Agency for Healthcare Administration (AHCA). The contract, awarded to Molina's subsidiary Molina Healthcare of Florida, Inc., covers Miami-Dade and Monroe Counties and is expected to serve approximately 90,000 Medicaid beneficiaries. The contract term is set to begin on January 1, 2025, and run through December 31, 2030, spanning a six-year period. This new contract represents a significant expansion of Molina's presence in Florida's Medicaid market and potentially strengthens its position in the state's healthcare sector.
Molina Healthcare (NYSE: MOH) has announced its earnings release for the second quarter ending June 30, 2024. The release will occur after market close on Wednesday, July 24, 2024.
A conference call and webcast to discuss these earnings will be held on Thursday, July 25, 2024, at 8:00 a.m. Eastern Time. Interested parties can join the teleconference by dialing (877) 883-0383 and entering the confirmation number, 8508329. For those unable to attend, a telephonic replay will be available until August 1, 2024, by dialing (877) 344-7529 and entering confirmation number, 5266367. Additionally, a live webcast and a 30-day online replay will be accessible via Molina's website.
Molina Healthcare (NYSE: MOH) announced that the Wisconsin Department of Health Services intends to award a new contract for Region 5 to Molina Healthcare of Wisconsin. The contract is set to begin on January 1, 2025, for two years, with options for three, two-year extensions. The program, branded as My Choice Wisconsin, currently serves 5,600 members in the Family Care and Family Care Partnership programs, out of the 55,000 total members in Wisconsin.
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