LONG BEACH, Calif.--(BUSINESS WIRE)--May. 23, 2013--
Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly
owned subsidiary, Molina Healthcare of California, has been selected by
Covered California to offer certified Qualified Health Plans (QHPs) on
the California Health Benefit Exchange for the individual Health
Maintenance Organization (HMO) market. Molina Healthcare will
participate in four counties when the marketplace goes online in the
fall—Los Angeles, San Diego, Riverside and San Bernardino. This is a
tentative selection pending completion of regulatory review.
“We are excited to take part in this historic opportunity to provide
health care options to potentially 5.3 million Californians who may not
have had access before,” said J. Mario Molina, MD, president and chief
executive officer for Molina Healthcare. “These individuals will soon be
able to purchase insurance through Covered California for a low cost and
many may even qualify for federal subsidies to help pay for their
monthly premiums. Our goal is to make health care accessible and
affordable to those who are low-income or uninsured. We will continue to
work closely with Covered California to make this possible.”
Molina Healthcare currently serves members in Los Angeles, Riverside,
San Bernardino, San Diego and Sacramento counties with membership of
approximately 332,000 as of March 31, 2013.
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.
About Covered California
California was the first state to create a health benefit exchange
following the passage of federal health care law. Covered California is
charged with creating a new insurance marketplace in which individuals
and small businesses can get access to health insurance. With coverage
starting in 2014, Covered California will help individuals compare and
choose a health plan that works best for their health needs and budget.
Financial help will be available from the federal government to help
lower costs for people who qualify on a sliding scale. Small businesses
will be able to purchase competitively priced health plans and offer
their employees the ability to choose from an array of plans and may
qualify for federal tax credits. Covered California is an independent
part of the state government whose job is to make the new market work
for California’s consumers. It is overseen by a five-member board
appointed by the Governor and Legislature.
For more information on Covered California, please visit www.CoveredCA.com.
Source: Molina Healthcare, Inc.
Molina Healthcare, Inc.
Investor Relations:
Juan José
Orellana, 562-435-3666, ext. 111143
or
Public Relations:
Sunny
Yu, 562-901-1039