Molina Blames Poor 4th Quarter Performance On CSRs, Hikes Premiums In 2018

Officials from California-based health insurer Molina told investors the lack of federal cost-sharing reduction (CSR) payments and the company’s internal restructuring led to its 2017 losses, and said the company hopes to become more profitable in 2018 by significantly raising premiums. The insurer signaled it will pursue all available means to collect CSR payments from the federal government, potentially signaling a future lawsuit. To make up for the falling numbers, Molina has implemented premium increases averaging 59 percent effective Jan...