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): June 18, 2018 (June 18, 2018)
______________

MOLINA HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)

Delaware

1-31719

13-4204626

(State or other jurisdiction of
incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

______________

200 Oceangate, Suite 100, Long Beach, California 90802

(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).

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 Section 13(a) of the Exchange Act.

 



Item 7.01.

Regulation FD Disclosure.

On June 18, 2018, Molina Healthcare, Inc. issued a press release announcing that its wholly owned subsidiary, Molina Healthcare of Florida, Inc., has been awarded Medicaid Managed Care contracts by the Florida Agency for Health Care Administration to provide Comprehensive Medical Assistance Plan services in Regions 8 and 11 of the Florida Statewide Medicaid Managed Care Invitation to Negotiate (ITN). The full text of the press release is included as Exhibit 99.1 to this report.

Note: The information furnished herewith pursuant to Item 7.01 of this Current Report on Form 8-K 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.

Item 9.01.

Financial Statements and Exhibits.

(d)       Exhibits:

Exhibit
No.

Description
 
99.1 Press release dated June 18, 2018.


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: June 18, 2018 By:

/s/ Jeff D. Barlow

 

Jeff D. Barlow

 

Chief Legal Officer and Secretary


EXHIBIT INDEX


Exhibit

No. Description
 

99.1

Press release dated June 18, 2018.

Exhibit 99.1

Molina Healthcare Awarded Florida Medicaid Managed Care Contracts

LONG BEACH, Calif.--(BUSINESS WIRE)--June 18, 2018--Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly owned subsidiary, Molina Healthcare of Florida, Inc., has been awarded Medicaid Managed Care contracts by the Florida Agency for Health Care Administration in Regions 8 and 11 of the Florida Statewide Medicaid Managed Care Invitation to Negotiate (ITN). The Company currently serves approximately 105,000 Medicaid members in those regions, which include Miami-Dade, Monroe, Sarasota, DeSoto, Charlotte, Glades, Hendry and Collier Counties, representing approximately $550 million in annual revenue. Services under the new contract are expected to begin on January 1, 2019.

“With these contract awards, we will not only continue to serve Medicaid members in Regions 8 and 11, but we are positioned to maintain and grow our Marketplace and Medicare businesses in Florida,” said Joe Zubretsky, president and chief executive officer of Molina Healthcare, Inc. “We will have the geographic footprint and scale in this important managed care market, which will now continue to be a significant contributor to our enterprise business portfolio.”

“Molina Healthcare is proud to be able to continue our partnership with AHCA to provide access to high quality care in Regions 8 and 11,” said Pamela Sedmak, executive vice president of health plan operations of Molina Healthcare, Inc. “We are grateful for the opportunity to serve Medicaid beneficiaries in Florida, and we are committed to delivering value for members, providers, and government partners across the state.”

In May 2018, Molina filed protests of AHCA’s Medicaid Managed Care awards in all eleven regions of Florida. The awards of Regions 8 and 11 are the result of negotiations between Molina and AHCA, and Molina has now withdrawn its protests in all regions. In addition to the two regions where Molina will coordinate care for Medicaid beneficiaries in 2019, Molina will also continue to offer Medicare and Marketplace products across Florida.

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 4.1 million members as of March 31, 2018. For more information about Molina Healthcare, please visit our website at 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 Medicaid Managed Care contracts to Molina Healthcare of Florida in Regions 8 and 11 of the Florida Statewide Medicaid Managed Care ITN. 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 reversal of the contract awards in connection with a successful protest by another bidder, a delay in the start date for the contracts, a failure to satisfy readiness review requirements, and results and performance issues under the new contracts that are materially less favorable than those under the existing contracts. Additional information regarding the risk factors to which we are subject is provided in greater detail in our periodic reports and filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of our website or on the SEC’s website at sec.gov. Given these risks and uncertainties, we cannot give assurances that our forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by our forward-looking statements will in fact occur, and we caution investors not to place undue reliance on these statements. All forward-looking statements in this release represent our judgment as of the date hereof, and we disclaim any obligation to update any forward-looking statements to conform the statement to actual results or changes in our expectations that occur after the date of this release.

CONTACT:
Molina Healthcare:
Investor Relations
Ryan Kubota, 562-435-3666 ext. 119057
or
Public Relations
Laura Murray, 562-506-9208