Molina Healthcare reported net income of $34 million for the fourth quarter, a decrease of $134 million from the prior-year’s fourth quarter. Molina ended the quarter with Total Membership of 4,032,000, an increase of 701,000 from Fourth quarter 2019. The increase in membership was driven by an increase in Medicaid members which included an addition of 325,000 Medicaid members in Kentucky due to an acquisition.
Full Year 2020 Highlights:
Total revenue increased 15% to $19.4 billion for the full year 2020 compared to 2019.
- For the year ended December 31, 2020, net income was $673 million, or $11.23 per diluted share, compared to net income of $737 million, or $11.47 per diluted share, for the full year 2019
- The consolidated Medical Care Ratio for the year ended December 31, 2020, was 86.5%, compared to 85.8% for 2019
Source: Company press release