Medicaid deals boost Molina's Q3 results

Molina Healthcare saw premium revenue and profit increase in the third quarter of 2020, with the COVID-19 not significantly affecting results.

Molina recorded $4.8 billion in premium revenue for the third quarter of 2020, up 16.8 percent year over year for the three months ended Sept. 30. 

The insurer attributed the increase to higher premium revenue from its YourCare Health Plan and Passport Health Plan acquisitions. Year over year, Molina's membership has grown by 687,000.

The insurer ended the three-month period with a $185 million profit, up 5.7 percent year over year from $175 million. 

More articles on payers:
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