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Molina Healthcare Awarded Texas CHIP Contracts

Mar 12, 2018

LONG BEACH, Calif.--(BUSINESS WIRE)--Mar. 12, 2018-- Molina Healthcare, Inc. (NYSE: MOH) today announced that its Texas subsidiaries, Molina Healthcare of Texas, Inc. and Molina Healthcare of Texas Insurance Company, have been awarded contracts by the Texas Health and Human Services Commission (HHSC) for the Children’s Health Insurance Program (CHIP) Rural and Hidalgo Service Areas in all four of the awarded service areas, Hidalgo, Central, Northeast and West. Services under the contract are expected to begin on September 1, 2018.

CHIP is HHSC’s program that helps Texas families obtain affordable health insurance coverage for eligible children from birth through the month of their 19th birthday. Molina has contracted with HHSC to arrange CHIP covered benefits since 2006.

“Molina is honored to have been selected to continue our participation in the Texas CHIP,” said Anne Rote, president of Molina Healthcare of Texas and Molina Healthcare of Texas Insurance Company. “We are looking forward to continuing our partnership with HHSC, local providers, and community organizations to improve the health and well-being of Texas children, especially those residing in Texas’ rural counties.”

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 serves approximately 4.1 million members. For more information about Molina, 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 award of Molina Healthcare of Texas, Inc. and Molina Healthcare of Texas Insurance Company to enter into managed care contracts for the Children’s Health Insurance Program. 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 new contracts, a delay in the start date for the new contracts, a failure to satisfy readiness review requirements, and a reversal of the contract awards in connection with a successful protest by another bidder. Additional information regarding the risk factors to which Molina Healthcare is subject is provided in greater detail in its periodic reports and filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of Molina Healthcare’s website or on the SEC’s website at sec.gov. Given these risks and uncertainties, Molina Healthcare can give no assurances that its forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by its forward-looking statements will in fact occur, and Molina Healthcare cautions investors not to place undue reliance on these statements. All forward-looking statements in this release represent Molina Healthcare’s judgment as of the date hereof, and Molina Healthcare disclaims any obligation to update any forward-looking statements to conform the statement to actual results or changes in its expectations that occur after the date of this release.

Source: Molina Healthcare, Inc.

Molina Healthcare, Inc.
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Ryan Kubota, 562-435-3666 ext. 119057
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Leidy Arévalo, 562-528-5521