Molina Health Insurance Company
Molina Health Insurance is a multi-state managed care organization that has succeeded in providing health insurance needs to people that have not yet gotten the chance to acquire quality health coverage. Based out of California; Molina is a niche player in the health insurance market and strives to meet the needs of low income individuals and families in the US. Specifically, Molina wants to serve those eligible for Medicaid, The Healthy Family Program, The State’s Children Health Insurance Program (SCHIP) and many other government sponsored health insurance programs. Molina has millions of members in California, New Mexico, Ohio, Michigan, Texas, Utah and Washington. This HMO also offers disease management, preventive health education, and pharmacy management. U.S. News and World Report featured Molina Healthcare in their issue of Best Health Plans in America in the year 2006 and Blogging Stocks showed the company as one of the best value companies for stock brokers.
The company was founded by C. David Molina more than twenty five years ago to address the needs of Medicaid patients. Today, Molina’s success is due primarily to the fact that the company doesn’t only focus on Medicaid patients, but on the low-income population. The company is also committed to outreach programs, low-literacy programs and case management. The HMO’s are generally paid by Medicaid authority a specific amount per month. After this the HMO arranges for their member to receive health care services by signing contracts with independent or group physicians, hospitals and ancillary providers. Molina most importantly is focusing on having the right people in order to serve their members. This includes ensuring that its providers have the necessary cultural and linguistic experience and skills necessary to facilitate member services. As of December 2005, the company had about 1500 employees including nurses, doctors and administrators.
Other Interesting facts about Molina Health Insurance include the following:
- Molina Health Insurance is the third largest Hispanic business in America as measured by revenue and growth.
- In 2007 Molina Health Care rates among the top 1000 largest corporations in the United States.
- Molina Health Care is among the top 15 national managed care firms according to InterStudy.
Molina Health Care and its primary low income market only keeps getting bigger and their memberships keeps increasing. By the end of the 2006 calendar year there were approximately 210 million people enrolled with Molina and the commercial sector accounted for about 86 percent of members. 3 percent were with Medicare and about 11 percent were with Medicaid. The number of members will continue to increase if Molina can capture a healthy amount of baby boomers that will be turning 65. The next step for Molina is to keep expanding to other states in which low-income and retirees have health insurance needs. An article published on September 12, 2007 by Business Week Magazine shows that Molina plans to buy Mercy CarePLus (a St. Louis based health insurance company) for about 74 million dollars.
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