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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 has successfully completed its acquisition of AgeWell New York’s Medicaid Managed Long Term Care (MLTC) business as of October 1, 2022. This strategic acquisition enhances Molina's services and solidifies its market presence, as AgeWell's MLTC business catered to around 13,000 members by September 30, 2022. Molina Healthcare serves approximately 5.1 million members across various states, focusing on Medicaid and Medicare services.
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.
Molina Healthcare of New Mexico has partnered with Pyx Health to enhance behavioral health services for its Medicare members. This initiative aims to address social isolation among seniors, particularly in rural areas, by leveraging the Pyx Health platform. The CDC indicates that social isolation can significantly impact health risks, including increased chances of dementia and heart disease. The platform uses data to monitor emotional states and connects members to support staff for personalized assistance, ultimately enhancing behavioral health outcomes for Molina's members.
Molina Healthcare (NYSE: MOH) will release its Q3 2022 earnings on
Molina Healthcare (NYSE: MOH) announced that the Iowa Department of Health and Human Services intends to award its Iowa health plan a Medicaid managed care contract. The contract, set to start on July 1, 2023, has a duration of four years with an option for an additional four. Molina will join two other organizations to provide health coverage to approximately 850,000 Medicaid beneficiaries in Iowa. This award aligns with Molina's mission to enhance member health through quality care.
Molina Healthcare has been notified by the Mississippi Division of Medicaid regarding the intention to award a Medicaid Coordinated Care Contract for the Mississippi Coordinated Access Program (MississippiCAN) and the Children's Health Insurance Program (CHIP). This contract is set to commence on July 1, 2023, and extend through June 30, 2027. Molina Healthcare of Mississippi currently services nearly 90,000 Medicaid members in the state.
Molina Healthcare (MOH) reported a strong second quarter in 2022, with GAAP earnings per diluted share rising to $4.25 compared to $3.16 in Q2 2021. Premium revenue reached $7.8 billion, a significant 18% increase year-over-year. The company has upgraded its full-year guidance, now projecting 2022 premium revenue of approximately $30 billion and adjusted earnings of at least $17.60 per share. Molina serves about 5.1 million members, reflecting a 9% increase from the previous year. Despite COVID-related impacts, the company demonstrated solid financial performance and growth initiatives.
Molina Healthcare (NYSE: MOH) has announced its acquisition of My Choice Wisconsin (MCW) for approximately
The MolinaCares Accord announced a $400,000 contribution to the University of Washington School of Nursing to enhance the behavioral health workforce in Washington. This initiative aims to develop a blended family and psychiatric primary care curriculum for nurse practitioners, addressing the ongoing provider shortage in behavioral health.
Dr. Jay Fathi emphasized the need to expand training in this area, especially as 34% of Washington adults reported anxiety or depressive symptoms due to COVID-19. The funding will improve the capabilities of nursing professionals and ultimately benefit community health.
Molina Healthcare (NYSE: MOH) announces the release of its second-quarter earnings results, scheduled for July 27, 2022, after market close. The company will host a conference call on July 28, 2022, at 8:00 a.m. Eastern Time to discuss these results. Investors can access the call by dialing (877) 883-0383 with the confirmation number 4270459. A replay will be available until August 11, 2022. Molina Healthcare, a FORTUNE 500 company, provides managed healthcare services to approximately 5.1 million members across 19 states as of March 31, 2022.
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