Molina Healthcare has been making headlines lately with several significant developments. The company promoted two senior executives, reviewed the proposed acquisition of My Choice Wisconsin, appointed Carolyn Ingram to serve on the Medicaid and CHIP Payment and Access Commission, reported double-digit growth in net income, had a CEO-to-median-employee pay ratio of 293:1, CEO Joseph Zubretsky received the largest compensation package among the most prominent payer CEOs and was named among the most trustworthy companies in the nation.
Molina Healthcare is a managed care company that provides health insurance to individuals and families through government programs such as Medicaid and Medicare. The company has been making headlines lately with several significant developments. It is playing an increasingly important role in the healthcare industry, and it is well-positioned for future success.
Molina Healthcare has been making headlines lately, with many significant developments since March 17. Here are eight updates on the company:
- Molina Healthcare promoted two senior executives: Jim Woys was promoted to senior executive vice president and chief operating officer, and Mark Keim was promoted to senior executive vice president and chief financial officer.
- The Wisconsin Office of the Commissioner of Insurance and Department of Health Services is reviewing Molina Healthcare’s proposed acquisition of My Choice Wisconsin: My Choice Wisconsin is a Medicaid-managed care organization that serves 44,000 members across the state.
- Carolyn Ingram, executive vice president at Molina Healthcare and plan president of Molina Healthcare of New Mexico, was appointed to serve on the Medicaid and CHIP Payment and Access Commission: The Medicaid and CHIP Payment and Access Commission is a federal commission that oversees the Medicaid and Children’s Health Insurance Program (CHIP) programs.
- Molina Healthcare reported double-digit growth in net income since the same period last year and raised its year-end earnings guidance: The company’s first-quarter earnings showed that net income increased by 15% from the same period in 2022.
- Molina Healthcare had a CEO-to-median-employee pay ratio of 293:1 in 2022: This means that CEO Joseph Zubretsky was paid 293 times more than the median employee at the company.
- Molina Healthcare CEO Joseph Zubretsky received the largest compensation package among the most prominent payer CEOs in 2022: Zubretsky’s total compensation package was $16.7 million, according to regulatory filings submitted to the Securities and Exchange Commission.
- Molina Healthcare was one of 12 payers named among the most trustworthy companies in the nation in 2023 by Newsweek: The company was ranked sixth on the list, which was based on a survey of over 2,000 Americans.
- Molina Healthcare of Indiana was one of four payers selected to manage Indiana Pathways for Aging, a new Medicaid program dedicated to long-term services and support: The program is expected to serve over 100,000 Hoosiers.
These are just a few of the recent developments at Molina Healthcare. The company is continuing to grow and expand its reach, and it is playing an increasingly important role in the healthcare industry.
