Molina Lists Reasons For Exchange Exits, Not Retrenching From Medicaid Managed Care

Molina Health interim CEO Joe White told investors that a failure to invest in new business capabilities and to absorb Affordable Care Act growth as well as non-competitive provider contracts led to its disappointing second quarter performance as he announced exits from two exchanges amid a company restructuring. Molina will leave the Wisconsin and Utah marketplaces, reduce its presence in Washington state, significantly increase premiums and look very closely at its remaining markets, but won't retrench from Medicaid managed care,...