Molina Healthcare, Inc.

Molina Healthcare, Inc. provides managed healthcare services primarily through government-funded programs and state insurance marketplaces. The company was founded in 1980, serving low-income families in Southern California, and reincorporated in Delaware in 2002. As of December 31, 2025, Molina Healthcare served approximately 5.5 million members across 21 states. The company operates through four reportable segments: Medicaid, Medicare, Marketplace, and Other. The Medicaid, Medicare, and Marketplace segments deliver managed healthcare services under government-funded or sponsored programs. The Other segment, which is not significant to the company's overall financial results, includes long-term services and supports consultative services in Wisconsin and the commercial business acquired from the ConnectiCare transaction, which closed on February 1, 2025. For the year ended December 31, 2025, Molina Healthcare reported total revenue of $45,426 million, with premium revenue at $43,052 million. Net income for the same period was $472 million, resulting in net income per diluted share of $8.92. The medical care ratio, representing medical care costs as a percentage of premium revenue, was 91.7% for the year ended December 31, 2025. Segment membership as of December 31, 2025, included 4,568,000 members in Medicaid, 262,000 in Medicare, 655,000 in Marketplace, and 6,000 in Other, totaling 5,491,000 members. Premium revenue for the year ended December 31, 2025, was $32,240 million for Medicaid, $6,235 million for Medicare, $4,487 million for Marketplace, and $90 million for Other.