Molina Healthcare, Inc. (NYSE: MOH) has announced that its health plan subsidiaries in Michigan and Idaho have been awarded contracts to provide services to dual eligible populations.
In Michigan, Molina's health plan subsidiary, Molina Healthcare of Michigan, has been awarded a contract to provide a highly integrated dual eligible special needs plan (HIDE SNP) by the Michigan Department of Health and Human Services (MDHHS). This new benefit plan, called MI Coordinated Health, will be available to individuals enrolled in both Medicare and Medicaid. The contract is for a duration of seven years, with three one-year optional extensions, and covers eleven service regions * Michigan’s entire lower peninsula.
In Idaho, Molina's health plan subsidiary, Molina Healthcare of Idaho, is set to administer the state’s Medicare Medicaid Coordinated Plan (MMCP) and Idaho Medicaid Plus Plan (IMPlus) for the dual eligible population. The initial term of these contracts is four years, with a potential one-year extension.
It is noteworthy that Molina Healthcare currently serves approximately 11,000 dual eligible members across Idaho.
The contracts in both Michigan and Idaho are expected to go live on January 1, 2026.
These developments represent significant opportunities for Molina Healthcare to expand its managed healthcare services under the Medicaid and Medicare programs, and through the state insurance marketplaces.
This news comes after the initial notice of intent to award the HIDE SNP contract in Michigan was announced by MDHHS on October 9, 2024, and subsequently cancelled on November 8, 2024. The new contract in Michigan follows the cancellation and represents a positive turn of events for Molina Healthcare. The market has reacted to these announcements by moving the company's shares -1.1% to a price of $292.26. Check out the company's full 8-K submission here.
