Molina Healthcare is located in Long Beach, CA and has had some rough bumps with contracts and much of it related to technology with losing a few contracts over the last few years but of late it seems to have calmed down. Healthy Palm Beaches lost almost $ 2 million in 2013 and Molina Healthcare of Florida lost over $ 5 million and about half the business was from Medicaid premiums. Molina also owns health clinics in Florida and in California. Overall other areas of Molina made up for the losses in Florida with revenue and profits. BD
“Through its wholly-owned subsidiary, Molina Medicaid Solutions, Molina’s Medicaid management information systems’ design, development, implementation and operation expertise provide the technological foundation needed by state agencies to meet current and future Medicaid Information Technology Architecture (MITA) business process and regulatory health care requirements.”
Healthy Palm Beaches sold its Medicaid HMO business, with about 11,500 members, to Molina Healthcare.
The Long Beach, Calif.-based health insurer (NYSE: MOH) paid $7.5 million for the acquisition, said Thomas Cleare, chief program officer at the Health Care District of Palm Beach County. The district owns Healthy Palm Beaches, which retained ownership of its Vita Health plans for individuals and families.
“The combination of Healthy Palm Beaches and Molina Healthcare of Florida’s existing Palm Beach County membership confirms our commitment to Palm Beach County,” said David Pollack, president of Molina Healthcare of Florida, in a news release. “We are well-prepared to care for these additional members as Florida’s new Managed Medical Assistance program rolls out.
Healthy Palm Beaches lost $1.9 million on premiums of $51.2 million in 2013, according to the Florida Office of Insurance Regulation. Of that, $23.7 million in premiums came from its individual and family plans and $27.7 million came from its Medicaid plans. It had 13,217 members in its individual and family plans and 14,069 members in its Medicaid plans on Dec. 31.