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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): March 6, 2023 (March 6, 2023)
 
______________
 
MOLINA HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)

Delaware
001-31719
13-4204626
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
______________
 
200 Oceangate, Suite 100, Long Beach, California 90802
(Address of principal executive offices) (Zip Code)

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))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.001 Par Value
MOH
New York Stock Exchange
 
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).
Emerging growth company
☐
   
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 Section13(a) of the Exchange Act.
☐


 



Item 7.01.    Regulation FD Disclosure.
 
On March 6, 2023, Molina Healthcare, Inc. (the “Company”) announced that the Indiana Department of Administration has recommended that contract negotiations begin with the Company’s Indiana health plan, Molina Healthcare of Indiana, Inc. (“Molina Indiana”). Under the proposed contract with the Indiana Family and Social Services Administration (“FSSA”), Molina Indiana is expected to provide risk-based managed care long term services and supports as part of the Indiana Pathways for Aging program pursuant to the request for proposal issued by FSSA on February 17, 2022. The full text of the press release is included as Exhibit 99.1 to this report.
 
Note: The information in this Form 8-K and the exhibits attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), 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, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
 
Item 9.01.    Financial Statements and Exhibits.
 
(d)       Exhibits:
 
Exhibit No.
Description
   
   
104
Cover Page information from Molina Healthcare, Inc.’s Current Report on Form 8-K filed on March 6, 2023 formatted in iXBRL (Inline Extensible Business Reporting Language)


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:
March 6, 2023
By:
/s/ Jeff D. Barlow
     
Jeff D. Barlow
     
Chief Legal Officer and Secretary

Exhibit 99.1

Molina Healthcare of Indiana Recommended for MLTSS Award

LONG BEACH, Calif.--(BUSINESS WIRE)--March 6, 2023--Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) today announced that the Indiana Department of Administration has recommended that contract negotiations begin with Molina’s Indiana health plan, Molina Healthcare of Indiana, Inc. Under the proposed contract with the Indiana Family and Social Services Administration (FSSA), Molina Healthcare of Indiana is expected to provide risk-based managed care long term services and supports as part of the Indiana Pathways for Aging LTSS program pursuant to the request for proposal issued by FSSA on February 17, 2022.

The new contract for Molina’s Indiana health plan is expected to have a four-year term, with the potential for two one-year renewals. Molina’s Indiana health plan will be one of four managed care organizations offering health care coverage to approximately 100,000 total Medicaid LTSS beneficiaries across the state.

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company (currently ranked 125), 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 5.3 million members as of December 31, 2022. 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 Molina’s Indiana health plan subsidiary and the Indiana Pathways for Aging LTSS program. All forward-looking statements are based on the Company’s current expectations that are subject to numerous risks and uncertainties that could cause actual results to differ materially. Such risks include, without limitation, the failure to finalize and execute a contract, a delay in the start date for the contract, and any changes incidental to a successful administrative protest or legal action. Given these risks and uncertainties, Molina cannot give assurances that its forward-looking statements will prove to be accurate. All forward-looking statements in this press release represent Molina’s judgment as of the date hereof. Information regarding the risk factors to which Molina is subject is provided in greater detail in its periodic reports and filings with the Securities and Exchange Commission (the “SEC”), including the Company’s most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of the Company’s website or on the SEC’s website at sec.gov.

Contacts

Investor Contact: Joseph Krocheski, 562-951-8382
Media Contact: Caroline Zubieta, 562-951-1588