MOLINA HEALTHCARE, INC. (NYSE:MOH) Files An 8-K Regulation FD DisclosureItem 7.01. Regulation FD Disclosure.
Late on January 8, 2018, the New Mexico Human Services Department (“HSD”) notified our New Mexico health plan, Molina Healthcare of New Mexico, Inc., that the health plan had not been selected for the tentative award of a contract under the RFP issued on September 1, 2017 for Centennial Care 2.0. The start date for the new Centennial Care contract is scheduled for January 1, 2019. The tentative RFP award does not affect the New Mexico plan’s current contract with HSD, which runs through December 31, 2018.
The New Mexico health plan's Medicaid membership was 225,000 as of September 30, 2017. The aggregate Medicaid premium revenue of the New Mexico plan, under the existing Centennial Care contract, amounted to $893 million for the nine months ended September 30, 2017, or 6.3% of our total premium revenue. For fiscal year 2017, the Company expects that the New Mexico health plan will not be profitable.
The information furnished herewith to Item 7.01 of this current report shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
About MOLINA HEALTHCARE, INC. (NYSE:MOH)
Molina Healthcare, Inc. offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business. Its direct delivery business consists of the operation of primary care clinics in various states in which it operates health plans. Its Molina Medicaid Solutions segment provides design, development, implementation (DDI) and business process outsourcing (BPO) solutions to state governments for their Medicaid management information systems (MMIS). The Other segment includes other businesses, such as its Pathways Health and Community Support LLC (Pathways) behavioral health and social services provider.