Welcome to our dedicated page for Molina Hlthcare news (Ticker: MOH), a resource for investors and traders seeking the latest updates and insights on Molina Hlthcare stock.
Molina Healthcare, Inc. reports developments tied to its managed healthcare business under Medicaid, Medicare and state insurance marketplace programs. Recurring updates include quarterly and annual results, premium revenue, medical care ratio trends, earnings guidance and commentary on state-program rates, medical cost management and product performance.
Company news also covers operating initiatives across Molina's service areas, including access-to-care and home health workforce programs, as well as capital actions such as senior note financing and credit-related activity. Coverage reflects a business model driven by government-program contracts, health plan membership, acquisitions, benefit costs and administrative expense control.
Molina Healthcare reported a strong third quarter for 2022, with GAAP earnings per diluted share of $3.95, up 61% year-over-year. Adjusted EPS rose to $4.36, a 54% increase. Premium revenue reached approximately $7.6 billion, marking a 12% rise from Q3 2021. The company increased its 2022 premium revenue guidance to $30.5 billion and adjusted earnings guidance to at least $17.75 per diluted share. As of September 30, Molina served about 5.2 million members, reflecting a 7% growth compared to the previous year.
Connections Health Solutions has appointed Joel Conger as Arizona Market President and Jay Balfour as Senior Vice President and General Counsel, as of October 13, 2022. Conger, with over 25 years of experience, will drive the company's expansion in Arizona's behavioral health services, having previously worked at Molina Healthcare (NYSE: MOH). Balfour brings nearly two decades of legal expertise, focusing on healthcare contracts. Their leadership is poised to enhance operational effectiveness and patient care, aligning with the company's growth strategy.
Molina Healthcare has successfully completed its acquisition of AgeWell New York’s Medicaid Managed Long Term Care (MLTC) business as of October 1, 2022. This strategic acquisition enhances Molina's services and solidifies its market presence, as AgeWell's MLTC business catered to around 13,000 members by September 30, 2022. Molina Healthcare serves approximately 5.1 million members across various states, focusing on Medicaid and Medicare services.
Molina Healthcare, Inc. (NYSE: MOH) announced that its subsidiary, Molina Healthcare of Nebraska, has been selected by the Nebraska Department of Health and Human Services to provide Medicaid services. The new five-year contract begins on January 1, 2024, and will cover approximately 360,000 Medicaid beneficiaries. Molina, ranked 125 in the FORTUNE 500, serves roughly 5.1 million members as of June 30, 2022.
Molina Healthcare of New Mexico has partnered with Pyx Health to enhance behavioral health services for its Medicare members. This initiative aims to address social isolation among seniors, particularly in rural areas, by leveraging the Pyx Health platform. The CDC indicates that social isolation can significantly impact health risks, including increased chances of dementia and heart disease. The platform uses data to monitor emotional states and connects members to support staff for personalized assistance, ultimately enhancing behavioral health outcomes for Molina's members.
Molina Healthcare (NYSE: MOH) will release its Q3 2022 earnings on October 26, 2022, after market close. An earnings call is scheduled for October 27, 2022, at 8:00 a.m. ET. The company serves approximately 5.1 million members as of June 30, 2022, and is ranked 125 on the FORTUNE 500 list. Investors can access a live broadcast and replay through molinahealthcare.com.
Molina Healthcare (NYSE: MOH) announced that the Iowa Department of Health and Human Services intends to award its Iowa health plan a Medicaid managed care contract. The contract, set to start on July 1, 2023, has a duration of four years with an option for an additional four. Molina will join two other organizations to provide health coverage to approximately 850,000 Medicaid beneficiaries in Iowa. This award aligns with Molina's mission to enhance member health through quality care.
Molina Healthcare has been notified by the Mississippi Division of Medicaid regarding the intention to award a Medicaid Coordinated Care Contract for the Mississippi Coordinated Access Program (MississippiCAN) and the Children's Health Insurance Program (CHIP). This contract is set to commence on July 1, 2023, and extend through June 30, 2027. Molina Healthcare of Mississippi currently services nearly 90,000 Medicaid members in the state.
Molina Healthcare (MOH) reported a strong second quarter in 2022, with GAAP earnings per diluted share rising to $4.25 compared to $3.16 in Q2 2021. Premium revenue reached $7.8 billion, a significant 18% increase year-over-year. The company has upgraded its full-year guidance, now projecting 2022 premium revenue of approximately $30 billion and adjusted earnings of at least $17.60 per share. Molina serves about 5.1 million members, reflecting a 9% increase from the previous year. Despite COVID-related impacts, the company demonstrated solid financial performance and growth initiatives.
Molina Healthcare (NYSE: MOH) has announced its acquisition of My Choice Wisconsin (MCW) for approximately $150 million, enhancing its Medicaid Managed Long-Term Care services in location value="LS/us.wi"Wisconsin. MCW, which serves over 44,000 members and generates around $1 billion in premium revenue, aligns with Molina's strategic growth initiatives. This acquisition is expected to positively impact Molina's earnings and expand its footprint. The transaction requires regulatory approvals and is anticipated to close in 2022.