Molina Healthcare loses Texas Medicaid contract

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Molina Healthcare lost part of a contract to manage Medicaid services in Texas, according to Seeking Alpha.

The Texas Health and Human Services Commission awarded Medicaid service contracts for the Bexar, Dallas, El Paso, Harris and Jefferson areas to other managed care organizations instead of Molina, according to an Oct. 30 Securities and Exchange Commission filing. Molina will only provide service to Hidalgo and North East markets.

In the filing, Molina said it is "seeking to understand the basis for HHSC's selection of intended contract awards," and doesn't expect the decision to affect its earnings in 2019.

Under Molina's current contract with HHSC, the health insurer brought in about $1.2 billion in premium revenue for the nine months ended Sept. 30.

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