Molina Healthcare Awarded Florida Medicaid Managed Care Contracts
June 18 2018 - 7:00AM
Business Wire
Molina Healthcare, Inc. (NYSE: MOH) today announced that its
wholly owned subsidiary, Molina Healthcare of Florida, Inc., has
been awarded Medicaid Managed Care contracts by the Florida Agency
for Health Care Administration in Regions 8 and 11 of the Florida
Statewide Medicaid Managed Care Invitation to Negotiate (ITN). The
Company currently serves approximately 105,000 Medicaid members in
those regions, which include Miami-Dade, Monroe, Sarasota, DeSoto,
Charlotte, Glades, Hendry and Collier Counties, representing
approximately $550 million in annual revenue. Services under the
new contract are expected to begin on January 1, 2019.
“With these contract awards, we will not only continue to serve
Medicaid members in Regions 8 and 11, but we are positioned to
maintain and grow our Marketplace and Medicare businesses in
Florida,” said Joe Zubretsky, president and chief executive officer
of Molina Healthcare, Inc. “We will have the geographic footprint
and scale in this important managed care market, which will now
continue to be a significant contributor to our enterprise business
portfolio.”
“Molina Healthcare is proud to be able to continue our
partnership with AHCA to provide access to high quality care in
Regions 8 and 11,” said Pamela Sedmak, executive vice president of
health plan operations of Molina Healthcare, Inc. “We are grateful
for the opportunity to serve Medicaid beneficiaries in Florida, and
we are committed to delivering value for members, providers, and
government partners across the state.”
In May 2018, Molina filed protests of AHCA’s Medicaid Managed
Care awards in all eleven regions of Florida. The awards of Regions
8 and 11 are the result of negotiations between Molina and AHCA,
and Molina has now withdrawn its protests in all regions. In
addition to the two regions where Molina will coordinate care for
Medicaid beneficiaries in 2019, Molina will also continue to offer
Medicare and Marketplace products across Florida.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed
health care services under the Medicaid and Medicare programs and
through the state insurance marketplaces. Through its locally
operated health plans, Molina Healthcare served approximately 4.1
million members as of March 31, 2018. For more information about
Molina Healthcare, please visit our website at
molinahealthcare.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains
“forward-looking statements” regarding the award of Medicaid
Managed Care contracts to Molina Healthcare of Florida in Regions 8
and 11 of the Florida Statewide Medicaid Managed Care ITN. All
forward-looking statements are based on current expectations that
are subject to numerous risk factors that could cause actual
results to differ materially. Such risk factors include, without
limitation, a reversal of the contract awards in connection with a
successful protest by another bidder, a delay in the start date for
the contracts, a failure to satisfy readiness review requirements,
and results and performance issues under the new contracts that are
materially less favorable than those under the existing contracts.
Additional information regarding the risk factors to which we are
subject is provided in greater detail in our periodic reports and
filings with the Securities and Exchange Commission, including our
most recent Annual Report on Form 10-K. These reports can be
accessed under the investor relations tab of our website or on the
SEC’s website at sec.gov. Given these risks and uncertainties,
we cannot give assurances that our forward-looking statements will
prove to be accurate, or that any other results or events projected
or contemplated by our forward-looking statements will in fact
occur, and we caution investors not to place undue reliance on
these statements. All forward-looking statements in this release
represent our judgment as of the date hereof, and we disclaim any
obligation to update any forward-looking statements to conform the
statement to actual results or changes in our expectations that
occur after the date of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180618005325/en/
Molina Healthcare:Investor RelationsRyan Kubota,
562-435-3666 ext. 119057orPublic RelationsLaura Murray,
562-506-9208
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