Molina’s current annual premium revenue related to its Medi-Cal contract is approximately $1.9 billion, according to a Jan. 3 news release. It is expecting revenues of $3.9 billion in 2024, down from its expectation of $5.5 billion under the original plan.
Under the finalized award, Molina is expecting its Medi-Cal membership to grow from approximately 600,000 members as of September to 1.2 million in 2024, according to the release.
In the state’s revised plan, Molina will share membership equally with the current commercial incumbent in Los Angeles County and will remain the sole commercial plan in Riverside and San Bernardino counties. The state has also granted Molina a contract to offer D-SNP products for dual eligible members in Los Angeles County.
The D-SNP contract is expected to exceed $500 million at full run rate and is not included in the $3.9 billion full year Medi-Cal revenue projection, according to the release.
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