Press release from Business Wire
Molina Healthcare of California Selected to Participate in the Covered California Marketplace
Thursday, May 23, 2013
Molina Healthcare of California Selected to Participate in the Covered California Marketplace14:15 EDT Thursday, May 23, 2013
LONG BEACH, Calif. (Business Wire) -- 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.
Molina Healthcare, Inc.
Juan José Orellana, 562-435-3666, ext. 111143
Sunny Yu, 562-901-1039