Molina Healthcare ended the fourth quarter of fiscal year 2019 with lower net income than a year prior as premium revenues declined, according to recent financial documents.
Three things to know:
1. Molina saw premium revenue in the fourth quarter of 2019 decrease 7.1 percent to $4.1 billion. That's compared to $4.4 billion in the same quarter in 2018.
2. Molina said the decrease was expected, and lower premium revenue in the full 2019 fiscal year is primarily the result of losses of Medicaid membership in New Mexico and Florida.
3. The health insurer ended the quarter with net income of $168 million, down 16.4 percent year over year. For the full fiscal year, Molina's profits rose 4.2 percent to $737 million, up from $707 million in 2018.