false 0001179929 0001179929 2024-12-16 2024-12-16
 
 
 
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): December 16, 2024
 
______________
 
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)
(IRS Employer Identification No.)
______________
 
200 Oceangate, Suite 100, Long Beach, California
90802
(Address of principal executive offices)
(Zip Code)
 
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))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.001 Par Value
MOH
New York Stock Exchange
 
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 Section13(a) of the Exchange Act.
 
☐
 
 
 
 
 
Item 7.01. Regulation FD Disclosure.
 
On December 16, 2024, Molina Healthcare, Inc. (“Molina”) announced that the Michigan Department of Health and Human Services (MDHHS) has awarded a contract to Molina’s health plan subsidiary, Molina Healthcare of Michigan, to provide a Highly Integrated Dual Eligible Special Needs Plan (HIDE SNP). Molina also announced that the Idaho Department of Health and Welfare (IDHW) intends to award contracts to Molina’s health plan subsidiary, Molina Healthcare of Idaho, to administer the state’s Medicare Medicaid Coordinated Plan (MMCP) and Idaho Medicaid Plus Plan (IMPlus). The full text of the press release is included as Exhibit 99.1 to this report and incorporated by reference herein.
 
Note: The information in this Form 8-K and the exhibits attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
 
Item 9.01.    Financial Statements and Exhibits.
 
(d)     Exhibits:
 
Exhibit No.
Description
99.1
   
104
Cover Page information from Molina Healthcare, Inc.’s Current Report on Form 8-K filed on December 16, 2024 formatted in iXBRL (Inline Extensible Business Reporting Language)
 
 
 
 
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:
December 16, 2024
By:
/s/ Jeff D. Barlow
     
Jeff D. Barlow
     
Chief Legal Officer and Secretary
 
 

Exhibit 99.1

 

molina.jpg

 

NEWS RELEASE

 

Investor Contact: Jeff Geyer, Jeffrey.Geyer@molinahealthcare.com, 305-317-3012

Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588

 

 

Molina Healthcare Awarded Contracts to Serve Dual Eligible Populations in Michigan and Idaho

 

LONG BEACH, Calif., Dec. 16, 2024 – Molina Healthcare, Inc. (NYSE: MOH) (“Molina” or the “Company”) announced today that the Michigan Department of Health and Human Services (MDHHS) has awarded a contract to Molina’s health plan subsidiary, Molina Healthcare of Michigan, to provide a Highly Integrated Dual Eligible Special Needs Plan (HIDE SNP). This new award follows the initial notice of intent to award the HIDE SNP contract announced by the MDHHS on October 9, 2024, and subsequently cancelled on November 8, 2024. The new benefit plan, MI Coordinated Health, will be available to individuals enrolled in both Medicare and Medicaid. Molina confirmed it was awarded the contract in eleven service regions – Michigan’s entire lower peninsula. Molina currently serves two regions in the existing Michigan Health Link program, the state’s current platform for serving dual eligible members.

 

The go-live date for the new contract is expected to be January 1, 2026. The contract is expected to have a duration of seven years, with three one-year optional extensions.

 

Molina also announced today that the Idaho Department of Health and Welfare (IDHW) intends to award contracts to Molina’s health plan subsidiary, Molina Healthcare of Idaho, to administer the State’s Medicare Medicaid Coordinated Plan (MMCP) and Idaho Medicaid Plus Plan (IMPlus), which provide access to integrated benefits to the State’s dual eligible population. Molina currently serves approximately 11,000 dual eligible members across the State.

 

The go-live date for the contract is expected to be January 1, 2026. The contracts are expected to have an initial term of four years, with a potential one-year extension.

 

About Molina Healthcare

 

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. For more information about Molina Healthcare, please visit MolinaHealthcare.com.

 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements regarding MDHHS’s selection of Molina Healthcare of Michigan and IDHW’s selection of Molina Healthcare of Idaho. All forward-looking statements are based on the Company’s current expectations that are subject to numerous risks and uncertainties that could cause actual results to differ materially. Such risks include, without limitation, a successful protest or legal action, a delay in the start date for the contract, or a contract term that is shorter than expected. Given these risks and uncertainties, Molina cannot give assurances that its forward-looking statements will prove to be accurate. Information regarding the risk factors to which the Company is subject is provided in greater detail in its periodic reports and filings with the Securities and Exchange Commission (“SEC”), including the Company’s most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of the Company’s website or on the SEC’s website at sec.gov.

 

 
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Document And Entity Information
Dec. 16, 2024
Document Information [Line Items]  
Entity, Registrant Name MOLINA HEALTHCARE, INC.
Document, Type 8-K
Document, Period End Date Dec. 16, 2024
Entity, Incorporation, State or Country Code DE
Entity, File Number 1-31719
Entity, Tax Identification Number 13-4204626
Entity, Address, Address Line One 200 Oceangate, Suite 100
Entity, Address, City or Town Long Beach
Entity, Address, State or Province CA
Entity, Address, Postal Zip Code 90802
City Area Code 562
Local Phone Number 435-3666
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Title of 12(b) Security Common Stock
Trading Symbol MOH
Security Exchange Name NYSE
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Entity, Central Index Key 0001179929
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