Molina Healthcare Inc. (MOH, Financial) filed Quarterly Report for the period ended 2009-06-30.
Molina Healthcare is a multi-state managed care organization that arranges for the delivery of healthcare services to persons eligible for Medicaid and other programs for low-income families and individuals. It currently operates health plans in California Washington Michigan and Utah. Molina Healthcare Inc. has a market cap of $520.4 million; its shares were traded at around $20.02 with a P/E ratio of 8.9 and P/S ratio of 0.2. Molina Healthcare Inc. had an annual average earning growth of 8.8% over the past 5 years.
The amount of the premiums paid to us may vary substantially between states and among various government programs. PMPM premiums for members of the Childrens Health Insurance Program (CHIP) are generally among our lowest, with rates as low as approximately $80 PMPM in California. Premium revenues for Medicaid members are generally higher. Among the Temporary Aid for Needy Families (TANF) Medicaid population the Medicaid group that includes most mothers and children PMPM premiums range between approximately $100 in California to over $250 in Missouri and New Mexico. Among our Medicaid Aged, Blind or Disabled (ABD) membership, PMPM premiums range from approximately $425 in California and Texas to over $1,000 in Ohio. Medicare premiums are approximately $1,100 PMPM, with Medicare revenue totaling $62.2 million and $44.4 million, for the six months ended June 30, 2009, and 2008, respectively.
As of June 30, 2009, we had a liability of approximately $0.6 million accrued pursuant to our profit-sharing agreement with the state of Texas for the 2008 contract year (ending August 31, 2008) and the 2009 contract year (ending August 31, 2009). During 2008, we paid the state of Texas $10.1 million relating to the 2007 and 2008 contract years, and the 2007 contract year is now closed. Because the final settlement calculations include a claims run-out period of nearly one year, the amounts recorded, based on our estimates, may be adjusted. We believe that the ultimate settlement will not differ materially from our estimates.
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Molina Healthcare is a multi-state managed care organization that arranges for the delivery of healthcare services to persons eligible for Medicaid and other programs for low-income families and individuals. It currently operates health plans in California Washington Michigan and Utah. Molina Healthcare Inc. has a market cap of $520.4 million; its shares were traded at around $20.02 with a P/E ratio of 8.9 and P/S ratio of 0.2. Molina Healthcare Inc. had an annual average earning growth of 8.8% over the past 5 years.
Highlight of Business Operations:
Our 2008 consolidated financial statements have been recast to reflect the adoption of FASB Staff Position (FSP) APB 14-1, Accounting for Convertible Debt Instruments That May be Settled in Cash upon Conversion (Including Partial Cash Settlement). This resulted in additional interest expense of $1.2 million ($0.03 per diluted share) for the three months ended June 30, 2008, and $2.3 million ($0.05 per diluted share) for the six months ended June 30, 2008.The amount of the premiums paid to us may vary substantially between states and among various government programs. PMPM premiums for members of the Childrens Health Insurance Program (CHIP) are generally among our lowest, with rates as low as approximately $80 PMPM in California. Premium revenues for Medicaid members are generally higher. Among the Temporary Aid for Needy Families (TANF) Medicaid population the Medicaid group that includes most mothers and children PMPM premiums range between approximately $100 in California to over $250 in Missouri and New Mexico. Among our Medicaid Aged, Blind or Disabled (ABD) membership, PMPM premiums range from approximately $425 in California and Texas to over $1,000 in Ohio. Medicare premiums are approximately $1,100 PMPM, with Medicare revenue totaling $62.2 million and $44.4 million, for the six months ended June 30, 2009, and 2008, respectively.
As of June 30, 2009, we had a liability of approximately $0.6 million accrued pursuant to our profit-sharing agreement with the state of Texas for the 2008 contract year (ending August 31, 2008) and the 2009 contract year (ending August 31, 2009). During 2008, we paid the state of Texas $10.1 million relating to the 2007 and 2008 contract years, and the 2007 contract year is now closed. Because the final settlement calculations include a claims run-out period of nearly one year, the amounts recorded, based on our estimates, may be adjusted. We believe that the ultimate settlement will not differ materially from our estimates.
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