Molina Healthcare is a
managed care
The term managed care or managed healthcare is used in the United States to describe a group of activities intended to reduce the cost of providing health care and providing American health insurance while improving the quality of that care ("man ...
company headquartered in
Long Beach, California
Long Beach is a city in Los Angeles County, California. It is the 42nd-most populous city in the United States, with a population of 466,742 as of 2020. A charter city, Long Beach is the seventh-most populous city in California.
Incorporate ...
, United States. The company provides
health insurance
Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among ma ...
to individuals through government programs such as
Medicaid
Medicaid in the United States is a federal and state program that helps with healthcare costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, including nursing home care and pers ...
and
Medicare.
History
Molina Healthcare was founded in 1980 by C. David Molina, an
emergency room
An emergency department (ED), also known as an accident and emergency department (A&E), emergency room (ER), emergency ward (EW) or casualty department, is a medical treatment facility specializing in emergency medicine, the acute care of pati ...
physician in Long Beach, California.
[In Good Compan]
''Hispanic Magazine''. He had seen an influx of patients using the emergency room for common illnesses such as a sore throat or the flu because they were being turned away by doctors who would not accept
Medi-Cal The California Medical Assistance Program (Medi-Cal or MediCal) is California's Medicaid program serving low-income individuals, including families, seniors, persons with disabilities, children in foster care, pregnant women, and childless adults wi ...
. Molina established his first primary care clinic with the goal of treating the lowest-income patients, regardless of their ability to pay.
In September 2020, Molina Healthcare entered into an arrangement to purchase approximately all the assets of the Affinity Health Plan for about $380 million.
Leadership
For twenty years, the company was run by Dr. Molina's son, J. Mario Molina,
MD, a physician. He was the president and CEO of the company. John Molina, Mario's younger brother, was the
CFO
The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financi ...
of Molina Healthcare.
[How I Made It: J. Mario Molina and John Molin]
Los Angeles Times. The two took over the Molina's operations after their father died in 1996 and continued to expand the company. In May 2017 J. Mario and John were removed from their positions by the Board of Directors, who cited poor financial performance as the reason for the change in leadership. In October 2017 the company announced Joseph M. Zubretsky, the former CFO of Aetna, as Molina Healthcare’s president and CEO.
Clinics
The first Molina Medical clinic was opened in Wilmington, California in 1980. The company formerly operated clinics in
Washington (U.S. state), Washington,
New Mexico
)
, population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano)
, seat = Santa Fe
, LargestCity = Albuquerque
, LargestMetro = Tiguex
, OfficialLang = None
, Languages = English, Spanish ( New Mexican), Navajo, Ker ...
,
Florida
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
and
Utah
Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...
. The clinics were opened to provide health care to low-income families and individuals. In August 2017 Molina Healthcare announced it would close several clinics in Michigan, Florida, New Mexico, Wisconsin, and Utah.
Becoming an HMO
Molina Healthcare has focused on government-paid health care programs such as
SCHIP and
Medicaid
Medicaid in the United States is a federal and state program that helps with healthcare costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, including nursing home care and pers ...
since it became a
health maintenance organization
In the United States, a health maintenance organization (HMO) is a medical insurance group that provides health services for a fixed annual fee. It is an organization that provides or arranges managed care for health insurance, self-funded healt ...
in 1985. From 1985 to 1997, the company was only in California.
Expansion of health plans
* 1997: Molina Healthcare acquires HealthReach Family Health Care and enters the states of
Utah
Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...
and
Michigan
Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and the ...
.
[http://www.alacrastore.com/mergers-acquisitions/Molina_Healthcare_Inc-2518417 , Alacrastore.]
* 2000: Molina Healthcare enters the state of
Washington (U.S. state), Washington.
* 2004: Molina Healthcare enters the state of
New Mexico
)
, population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano)
, seat = Santa Fe
, LargestCity = Albuquerque
, LargestMetro = Tiguex
, OfficialLang = None
, Languages = English, Spanish ( New Mexican), Navajo, Ker ...
.
[https://www.ehealthinsurance.com/health-insurance-companies/molina-health-care-new-mexico , EHealthInsurance.]
* 2005: Molina Healthcare becomes a health plan in
Ohio
Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...
.
* 2006: Molina Healthcare enters the state of
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...
.
[http://health.usnews.com/medicare/molina-healthcare-of-texas-inc-medicare-plans-in-texas , US News.]
* 2007: Molina Healthcare enters
Missouri
Missouri is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it is bordered by eight states (tied for the most with Tennessee ...
.
[https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUfbzSUKHxFY , Bloomberg.]
* 2008: Molina Healthcare enters
Florida
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
.
[https://www.reuters.com/article/2008/08/06/idUS100708+06-Aug-2008+BW20080806 , Reuters.]
* 2010: Molina Healthcare enters
Wisconsin
Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...
.
[http://www.jsonline.com/business/molina09jsonline-b9971179z1-218942151.html , Journal Sentinel.]
* 2012: Molina Healthcare enters
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...
.
* 2013: Molina Healthcare enters
South Carolina
)''Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no)
, anthem = " Carolina";" South Carolina On My Mind"
, Former = Province of South Carolina
, seat = Columbia
, LargestCity = Charleston
, LargestMetro = ...
by acquiring assets from Community Health Solutions.
* 2013: Molina Healthcare acquires
New Mexico
)
, population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano)
, seat = Santa Fe
, LargestCity = Albuquerque
, LargestMetro = Tiguex
, OfficialLang = None
, Languages = English, Spanish ( New Mexican), Navajo, Ker ...
Lovelace Medicaid contract.
* 2014: Molina Healthcare acquires
Florida
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
Medicaid assets from First Coast Advantage.
* 2015: Molina Healthcare enters
Chicago
(''City in a Garden''); I Will
, image_map =
, map_caption = Interactive Map of Chicago
, coordinates =
, coordinates_footnotes =
, subdivision_type = Country
, subdivision_name ...
market, acquiring MyCare Chicago's Medicaid assets.
* 2015: Molina Healthcare enters
Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...
.
* 2015: Molina Healthcare of
Washington
Washington commonly refers to:
* Washington (state), United States
* Washington, D.C., the capital of the United States
** A metonym for the federal government of the United States
** Washington metropolitan area, the metropolitan area centered on ...
is the first health care company in the state to cover "Virtual Urgent Care" services.
* 2015: Molina Healthcare acquires Medicaid assets of Integral Health Plan, Inc. in Florida.
[Molina Healthcare to Buy Subsidiaries of Providence Service - Zacks](_blank)
zacks.com (2015-09-04). Retrieved on 2015-11-04.
* 2015: Molina Healthcare acquires Providence Human Services and Community Services, now known as Pathways by Molina.
* 2015: Molina Healthcare adds online access to behavioral health.
* 2015: Molina Healthcare acquires HealthPlus MIChild and Medicaid programs of
Michigan
Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and the ...
.
* 2015: Molina Healthcare acquires assets of Loyola Physician Partners' Medicaid Program of
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...
.
* 2017: Molina Healthcare exits the individual Marketplace in
Utah
Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...
and
Wisconsin
Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...
.
*2018: Molina Healthcare loses Medicaid contract with the state of New Mexico.
*2019: Molina Healthcare loses Medicaid contract with the state of Texas.
*2020: Molina Healthcare acquires Passport Health Plan in Kentucky.
*2021: Molina Healthcare acquires Magellan Complete Care line of business from Magellan Health, Inc.
*2021: Molina Healthcare acquires Affinity Health Plan in New York.
*2021: Molina Healthcare acquires
Cigna's Medicaid contracts in Texas
Going public
Molina Healthcare filed with the
Securities and Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...
for an initial stock offering in December 2002 and went public in July 2003 with a stock offering of $102 million. The shares were priced at $17.50, and Molina raised approximately $124 million in the
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
.
[http://www.mwe.com/index.cfm/fuseaction/media.prdetail/object_id/dbf194bf-b5fa-43bd-971e-5b6c79f4eec2.cfm , McDermott] In its stock market debut, Molina sold 6.6 million shares at $20.30, making the company the third-best first day gainer of 2003.
[http://www.thestreet.com/story/10097667/1/molina-healthcare-opens-with-a-pop.html , The Street] Molina Healthcare was the first company from ''
Inc. Magazine
''Inc.'' is an American business magazine founded in 1979 and based in New York City. The magazine publishes six issues per year, along with surrounding online and social media content. The magazine also produces several live and virtual events y ...
''s "Inner City 100" list to go public.
[http://www.inc.com/magazine/20031001/ipo.html , Inc. Magazine]
Entering the Medicare market
Molina Healthcare entered the
Medicare market in 2006. The company currently offers Medicare health plan options in: California, Florida, Idaho, Illinois, Michigan, Ohio, South Carolina, Texas, Utah, Virginia, Washington and Wisconsin.
Entering MMIS market
Molina Healthcare acquired
Unisys
Unisys Corporation is an American multinational information technology (IT) services and consulting company headquartered in Blue Bell, Pennsylvania. It provides digital workplace solutions, cloud, applications, and infrastructure solutions, e ...
’ health information management business in December 2010 to create Molina Medicaid Solutions (MMS).
[http://www.themcic.com/industry/Molina-Acquires-Unisys-Health-Information-Management-Business.htm , Managed Care Information Center] MMS has Medicaid Management Information Systems (MMIS) contracts with
Idaho
Idaho ( ) is a state in the Pacific Northwest region of the Western United States. To the north, it shares a small portion of the Canada–United States border with the province of British Columbia. It borders the states of Montana and Wyom ...
,
Louisiana
Louisiana , group=pronunciation (French: ''La Louisiane'') is a state in the Deep South and South Central regions of the United States. It is the 20th-smallest by area and the 25th most populous of the 50 U.S. states. Louisiana is borde ...
,
Maine
Maine () is a state in the New England and Northeastern regions of the United States. It borders New Hampshire to the west, the Gulf of Maine to the southeast, and the Canadian provinces of New Brunswick and Quebec to the northeast and north ...
,
New Jersey
New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...
,
West Virginia
West Virginia is a state in the Appalachian, Mid-Atlantic and Southeastern regions of the United States.The Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the Bur ...
and the U.S. Virgin Islands. In Autumn 2018, Molina Healthcare, Inc. sold its Medicaid management information systems business, Molina Medicaid Solutions (MMS), to
DXC Technology
DXC Technology is an American multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia.
History
DXC Technology was founded on April 3, 2017 when the Hewlett Packard Enterprise Company (HPE) ...
. MMS was a wholly owned subsidiary of Molina Healthcare at the time of sale.
Entering health insurance marketplace
In 2014, Molina Healthcare began offering
Marketplace plans in nine states where it offered
Medicaid
Medicaid in the United States is a federal and state program that helps with healthcare costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, including nursing home care and pers ...
health plans through
State Facilitated Marketplaces and
Federally Facilitated Marketplace The Federally Facilitated Marketplace (FFM) is an organized marketplace for health insurance plans operated by the U.S. Department of Health and Human Services (HHS). The FFM opened for enrollments starting October 1, 2013. The Federally Facilitate ...
. On November 16, 2016 the
Seattle Times
''The Seattle Times'' is a daily newspaper serving Seattle, Washington, United States. It was founded in 1891 and has been owned by the Blethen family since 1896. ''The Seattle Times'' has the largest circulation of any newspaper in Washington st ...
reported that about 11 million people currently get their coverage through the exchange. In August 2017 Molina announced it would stop offering plans on the health insurance marketplaces in Utah, Wisconsin, and Maine in 2018.
Dual eligible demonstration projects
Molina was selected to participate in dual eligible demonstration projects in California, Ohio, Illinois, Michigan, South Carolina
and Texas
to serve patients who are eligible for both Medicare and Medicaid.
Philanthropy
In May 2022, MolincaCares presented a $100,000 grant to support Compass Health’s Broadway Campus Redevelopment Project. The grant will aid to fund construction of a 72,000 square-foot, state-of-the-are facility that will expand community-based behavioural health care services and its workforce in northwest Washington.
Awards and recognition
Molina Healthcare was awarded the 2011 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility. The award ranked Molina Healthcare in the top 20 percent of employers nationally in terms of its programs, policies and culture for creating an effective and flexible workplace.
[http://gazettes.com/news/business/business_beat/business-beat-the-bicycle-stand-forever-ashbury-merchant-mentor-days/article_2a101e3e-414f-11e1-b1e3-0019bb2963f4.html Downtown Gazette] In 2006, Molina Healthcare was named among the 100 best corporate citizens by ''Business Ethics'' magazine.
[https://www.ehealthinsurance.com/health-insurance-companies/molina-health-care-texas Business Ethics Magazine] In 2005, ''Time'' magazine recognized Dr. J. Mario Molina, then CEO of Molina Healthcare, as one of the 25 most influential Hispanics in America.
[http://content.time.com/time/specials/packages/article/0,28804,2008201_2008200_2008224,00.html Time Magazine]
The company ranked 155th on the 2021
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
list of the largest United States corporations by revenue.
Other awards and recognition
* 2012: Molina Healthcare of Ohio received Corporate Caring Award from ''Columbus Business First''
* 2012: Molina Healthcare of Ohio awarded Best Places to Work Award from ''Columbus Business First''
* 2013: Molina Healthcare of Ohio awarded Ohio Association of Health Plans Pinnacle Award
* 2013: Molina Healthcare of Ohio awarded Padrino Award from the Ohio Hispanic Coalition
* 2014: Milwaukee Journal Sentinel Recognizes Molina Healthcare of Wisconsin with a Top Workplace Award 2014
* 2014: Molina Healthcare of New Mexico voted Best Places to Work by ''Albuquerque Business First''
* 2014: Molina Healthcare of Utah voted among Top Workplaces by the ''Salt Lake Tribune''
* 2014: Molina Healthcare of Ohio received Medical Mutual Pillar Award for Community Service
* 2014: Molina Healthcare of Wisconsin became Partner to CDC National Diabetes Prevention Program Partner
* 2014: Molina Healthcare, Inc. was one of 26 companies to participate in President Obama’s SupplierPay 2014
* 2015: Molina Healthcare of Texas ranked #3 Medicaid health plan in Texas by NCQA
* 2015: Molina Healthcare of California ranked #1 Medicaid health plan in California by NCQA
* 2015: Molina Healthcare of Utah ranked #1 Medicaid health plan in Utah by NCQA
* 2015: Molina Healthcare of Washington ranked #1 Medicaid Health Plan in Washington by NCQA
* 2015: Molina Healthcare of Ohio ranked #2 Medicaid health plan in Ohio by NCQA
* 2015: Molina Healthcare of New Mexico ranked #1 Medicaid health plan in New Mexico by NCQA
* 2015: Molina Healthcare of Wisconsin voted Top Workplaces by the Milwaukee Journal Sentinel
* 2015: Molina Healthcare, Inc. voted Top Ten Least Stressful Companies to Work for In America 2015
* 2015: Molina Healthcare, Inc. ranked 301 in top Fortune 500 2015
* 2015: Molina Healthcare of New Mexico awarded the New Mexico Performance Excellence Pinon Recognition
* 2016: Molina Healthcare, Inc. ranked 201 in top Fortune 500 2016
* 2017: Molina Healthcare, Inc. ranked 156 in Fortune 500 2017
References
External links
*
{{authority control
Companies listed on the New York Stock Exchange
Companies based in Long Beach, California
Health maintenance organizations
2003 initial public offerings