LONG BEACH, Calif.--(BUSINESS WIRE)--Dec. 12, 2018--
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005100/en/
Source: Molina Healthcare, Inc.