Here are five things to know:
1. Molina Healthcare’s total revenue was up over $2 billion from 2020’s third quarter, currently sitting at $7 billion.
2. However, profits were down this quarter, with the insurer reporting a net income of $143 million. This is a 22 percent decrease from 2020’s $185 million in profits during the same quarter.
3. The insurer’s membership has increased 20 percent since September 2020, currently sitting at 4.8 million lives.
4. Premium revenue also saw a jump over last year’s third quarter. Molina Healthcare reported $6.8 billion in premium revenue, which is up 43 percent year-over-year.
5. The insurer maintained an optimistic outlook on the year’s results, anticipating $27.5 billion in revenue by the end of the year. This would place 2021’s revenue 42 percent over 2020’s full-year revenue.
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