Molina said its revenue hit $3.77 billion in the fourth quarter of last year — a 34 percent increase over the same period of the year prior. When looking at full-year results, the health insurer said revenue climbed 45.57 percent to more than $14 billion. Strong enrollment growth and a 4 percent increase in premium revenue per member fueled the increase in revenue in 2015, according to Molina.
The boost in revenue was partially offset by an increase in expenses. Molina said its operating expenses for 2015 totaled $13.68 billion, up 44.45 percent from 2014. The health insurer saw its medical care costs soar 44.76 percent last year, compared to 2014.
Molina ended 2015 with net income of $143 million, up from $62 million the year prior.
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Cigna reports 2015 financial results: 5 things to know
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Covered California director: UnitedHealth is ‘driving me bonkers’
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