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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180312005148/en/
Source: Molina Healthcare, Inc.
Molina Healthcare, Inc.
Investor Relations:
Ryan Kubota,
562-435-3666 ext. 119057
or
Public Relations
Leidy
Arévalo, 562-528-5521
