Molina: Q1 Exchange Enrollment Exceeds Forecast

Molina exchange business grew by 302,000 consumers to reach a total 620,000 enrollees in the first quarter, outpacing the company’s earlier 500,000 estimate, growth that CEO Joseph Zubretsky says was driven by strong product design and pricing, higher effectuation rates, lower attrition and the special open enrollment period. Molina’s marketplace business had a Medical Loss Ratio of 77.3%, which was due to the higher-than-expected direct COVID-related costs as cases surged in many areas. The costs peaked in January and have...