UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 13, 2012
MOLINA HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 1-31719 | 13-4204626 | ||
| (State of incorporation) | (Commission File Number) |
(I.R.S. Employer Identification Number) |
200 Oceangate, Suite 100, Long Beach, California 90802
(Address of principal executive offices)
Registrant’s telephone number, including area code: (562) 435-3666
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01. | Regulation FD Disclosure. |
On July 13, 2012, Molina Medicaid Solutions, a wholly owned subsidiary of Molina Healthcare, Inc., was informed by the federal Centers for Medicare and Medicaid Services (CMS) and the Idaho Department of Health and Welfare that CMS had certified the Medicaid Management Information System (MMIS) implemented by Molina Medicaid Solutions retroactive to June 1, 2010. The CMS certification will allow the state of Idaho to receive 75 percent federal financial participation for the operation of the MMIS retroactive to that date.
The CMS certification is not expected to have a material impact on the results of operations of Molina Medicaid Solutions.
On July 17, 2012, we issued a press release announcing the certification of MMIS in Idaho. The full text of the press release is included as Exhibit 99.1 to this report
The information in this Form 8-K current report and the exhibit attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits: |
| Exhibit No. |
Description | |
| 99.1 | Press release of Molina Healthcare, Inc. issued July 17, 2012, regarding the certification of Idaho MMIS. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MOLINA HEALTHCARE, INC. | ||
| Date: July 17, 2012 | By: /s/ Jeff D. Barlow | |
| Jeff D. Barlow Sr. Vice President – General Counsel, and Secretary | ||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Press release of Molina Healthcare, Inc. issued July 17, 2012, regarding the certification of Idaho MMIS. | |
Exhibit 99.1
News Release
| Contact: Juan José Orellana Investor Relations 562-435-3666, ext. 111143 |
Sunny Yu Public Relations 562-901-1039 |
MOLINA’S MEDICAID CLAIMS PROCESSING SYSTEM
RECEIVES FULL FEDERAL CERTIFICATION IN IDAHO
Idaho Receives Maximum Federal Funding for New System
BOISE, Idaho (July 17, 2012) – Molina Healthcare, Inc. (NYSE: MOH) announced today that the Medicaid Management Information System (MMIS) implemented in Idaho by its wholly-owned subsidiary, Molina Medicaid Solutions, has received full federal certification from the Centers for Medicare and Medicaid Services (CMS). The certification follows a week of rigorous on-site testing of the system, as well as a subsequent evaluation by CMS. As a result of the CMS certification, the state of Idaho is entitled to receive federal reimbursement of 75 percent of its MMIS operations costs retroactive to June 1, 2010, the date that the system first began processing claims.
“Federal certification is a significant milestone because it allows the state of Idaho to access maximum federal funding for its Medicaid claims processing system,” said Norm Nichols, president of Molina Medicaid Solutions. “We are gratified by the achievement of this milestone, and will continue to work closely with Idaho’s Department of Health and Welfare and the Idaho health care community to serve the state’s Medicaid recipients.”
The claims payment system serves over 230,000 participants and handles more than 140,000 claims per week. The federal government required the system upgrade, with conversion to Molina’s system occurring in June 2010.
“Molina Healthcare has been an excellent partner with our claims processing system,” says Richard Armstrong, director of the Idaho Department of Health and Welfare. “When problems arose, Molina brought in the necessary resources and worked closely with us to correct the issues. Idaho can be proud of the high-performing system we have today.”
The initial conversion encountered issues during the first months of operation; however, because of the combined efforts of Molina and state staff, significant progress has been realized. “The system is now performing beyond expectations in some areas, while continuing to show improvement in others,” according to DHW Director Armstrong.
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MOH’s Medicaid Claims Processing System
Receives Full Federal Certification in Idaho
Page 2
July 17, 2012
Federal certification increases the share of the claims processing costs the federal government will pay for monthly operations. With an uncertified system, the federal government contributes approximately 50 percent of claims processing costs, with the state paying the other half. With a certified system, the federal government pays 75 percent of costs, reducing the state’s share.
About Molina Healthcare, Inc.
Molina Healthcare, Inc. (NYSE: MOH), a FORTUNE 500 company, provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program. Our licensed health plans in California, Florida, Michigan, New Mexico, Ohio, Texas, Utah, Washington, and Wisconsin currently serve approximately 1.8 million members, and our subsidiary, Molina Medicaid Solutions, provides business processing and information technology administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, and drug rebate administration services in Florida. More information about Molina Healthcare is available at www.molinahealthcare.com.
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