Molina Healthcare Awarded Children’s Health Insurance Program (CHIP) Contract in Mississippi
December 12 2018 - 7:00AM
Business Wire
Molina Healthcare, Inc. (NYSE: MOH) today announced that its
wholly owned subsidiary, Molina Healthcare of Mississippi, Inc.,
has been awarded a contract by the Mississippi Division of Medicaid
(DOM) for the Children’s Health Insurance Program (CHIP). With this
award, Molina is one of two managed care organizations selected to
administer CHIP in each of the state’s nine regional service areas
and all 82 counties. The terms of the new three-year contract are
effective February 1, 2019, and services are expected to begin on
July 1, 2019, pending the completion of a readiness review with
DOM.
“We are honored to have the opportunity to serve more members
through this new CHIP contract,” said Bridget Galatas, president of
Molina Healthcare of Mississippi. “It has been an exciting year
launching our health plan, and we are pleased to continue working
with DOM, local providers, and community-based organizations to
further increase accessibility to quality, affordable care and to
improve the health, well-being, and success of all those in our
community, especially the children we will now be able to serve
through CHIP.”
CHIP and MississippiCAN are the programs that DOM administers to
improve access to medical services, improve quality of care, and
improve program efficiencies and cost predictability. CHIP
specifically helps provide affordable health insurance coverage for
uninsured children up to 19 years of age who do not qualify for
Medicaid. Nearly 50,000 beneficiaries are currently enrolled in the
CHIP program in Mississippi. Molina expects the contract to add
approximately $75 million to the Company’s revenue annually.
Molina Healthcare of Mississippi currently provides Medicaid
coverage to individuals and families across the state through the
Mississippi Coordinated Access Network (MississippiCAN), which was
awarded in February 2017 and went live in October 2018.
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. Through its locally
operated health plans, Molina Healthcare served approximately 4
million members as of September 30, 2018. 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 the selection of Molina
Healthcare of Mississippi for a contract for the Children’s Health
Insurance Program in Mississippi. 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 failure of the parties
to finalize and execute the new contract, a delay in the start date
for the new contract, a reversal of the contract awards in
connection with a successful protest by another bidder, and a
failure to satisfy readiness review requirements. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181212005100/en/
Molina HealthcareRyan KubotaInvestor
Relations562-435-3666Justine dela RosaPublic
Relations562-528-5090
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