Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly
owned subsidiary, Molina Healthcare of Puerto Rico, Inc., has executed a
contract with the Puerto Rico Health Insurance Administration (ASES by
its Spanish acronym) to operate the Commonwealth’s Medicaid-funded
Government Health Plan (GHP) program in the East and Southwest regions.
Molina Healthcare of Puerto Rico’s total expected enrollment in the two
regions is approximately 350,000 members.
“As a health care company that has more than 30 years of experience
serving Medicaid beneficiaries, we are pleased to have been selected as
a new Medicaid provider in Puerto Rico,” said J. Mario Molina, MD,
President and CEO of Molina Healthcare. “We look forward to working
closely with ASES, local providers, and community leaders to deliver
high-quality health care to Puerto Rico’s Medicaid participants.”
Under the GHP program, the new model of care will integrate physical and
behavioral health care services under a single managed care organization
in each region. The GHP currently covers approximately 1.4 million
beneficiaries across the Commonwealth.
Molina Healthcare of Puerto Rico was selected by ASES pursuant to its
request for proposals issued in June 2014. The operational start date
for the program is currently scheduled for April 2015. Molina Healthcare
of Puerto Rico will now begin working through a readiness review with
ASES.
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 our locally operated health plans
in 11 states across the nation, Molina currently serves approximately
2.4 million members. Dr. C. David Molina founded our company in 1980 as
a provider organization serving low-income families in Southern
California. Today, we continue his mission of providing high quality and
cost-effective health care to those who need it most. For more
information about Molina Healthcare, please visit our website at www.molinahealthcare.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This release contains “forward-looking
statements” regarding the selection of Molina Healthcare of Puerto Rico
to operate the Commonwealth’s Medicaid-funded Government Health Plan
program in the East and Southwest regions, as well as its expected
enrollment. All of our forward-looking statements are based on our
current expectations that are subject to numerous risk factors that
could cause actual results to differ materially. Such risk factors
include, without limitation, risks related to a failure to satisfy
readiness review requirements or a delay in the start date for the GHP
program. 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 company website or on the SEC’s
website at www.sec.gov.
Given these risks and uncertainties, we can give no 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.
(13-MOH-01)
Copyright Business Wire 2014