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): January 3, 2019 (January 3,
2019)
______________
MOLINA
HEALTHCARE, INC.
(Exact
name of registrant as specified in its charter)
|
Delaware |
1-31719 |
13-4204626 |
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(State or other jurisdiction of |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
______________
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200 Oceangate, Suite 100, Long Beach, California 90802 |
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(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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
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Emerging growth company |
⃞ |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
⃞ |
Item 7.01. Regulation FD Disclosure.
On January 3, 2019, Molina Healthcare, Inc. announced that it has extended its agreement with CVS Caremark for pharmacy benefit management (PBM) services through 2021. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
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Exhibit |
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| No. |
Description |
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99.1 |
Press release dated January 3, 2019. |
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.
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MOLINA HEALTHCARE, INC. |
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| Date: | January 3, 2019 | By: |
/s/ Jeff D. Barlow |
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Jeff D. Barlow |
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Chief Legal Officer and Secretary |
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EXHIBIT INDEX
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Exhibit |
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| No. | Description |
Exhibit 99.1
Molina Healthcare Renews Agreement with CVS Caremark for Pharmacy Benefit Management
LONG BEACH, Calif.--(BUSINESS WIRE)--January 3, 2019--Molina Healthcare, Inc. (NYSE: MOH) today announced that, following a comprehensive procurement process, it has extended its agreement with CVS Caremark for pharmacy benefit management (PBM) services through 2021. Under the agreement, which became effective January 1, 2019, CVS Caremark will continue to administer pharmacy benefits for the approximately 4 million members Molina serves through its Medicaid, Medicare, and Marketplace health plans. The extension modifies Molina’s existing agreement with CVS Caremark to align Molina’s pharmacy management strategy with the operational improvement initiatives that have been underway over the last year under its new management team.
The agreement is immediately accretive to earnings and will enable Molina to remain responsive to state partner requirements as it manages its nearly $3 billion of annual pharmacy expenses in an evolving government-sponsored health care landscape. This PBM initiative is one of several that Molina has pursued to lower its costs, including clinical strategies with formulary, utilization management and generic dispensing initiatives, while improving health outcomes for members.
“Our renewed partnership with CVS Caremark and the restructuring of our pharmacy benefit management business have allowed us to unlock significant value by lowering costs while improving member adherence and outcomes,” said Joe Zubretsky, president and CEO of Molina Healthcare, Inc. “We now have the management team, PBM partner and infrastructure in place to deliver best in class pharmacy services to our members and state partners.”
“We are pleased to continue our longstanding relationship with Molina Healthcare as their pharmacy benefits manager,” said Derica Rice, president, CVS Caremark, which is the PBM business of CVS Health. “We believe that CVS Caremark’s integrated and innovative pharmacy care model and unique enterprise assets play an important role in helping support coordinated care, and we look forward to continuing to work with Molina Healthcare to improve the health outcomes of their members.”
Molina Healthcare members can continue to search among the Company’s robust list of in-network pharmacies by visiting providersearch.molinahealthcare.com.
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 million members as of September 30, 2018. For more information about Molina Healthcare, please visit molinahealthcare.com.
CONTACT:
Molina Healthcare:
Ryan Kubota
Investor
Relations
562-435-3666
Laura Murray
Public Relations
562-506-9208