Molina Healthcare Reports Third Quarter 2019 Financial Results

Raises Full Year 2019 Earnings Guidance

LONG BEACH, Calif.–(BUSINESS WIRE)–$MOH–Molina Healthcare, Inc. (NYSE: MOH) today reported net income for the third quarter of 2019 of $175 million, or $2.75 per diluted share, compared to net income of $197 million, or $2.90 per diluted share, in the third quarter of 2018. Financial results for the third quarter of 2019 are summarized below:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2019	2018	2019	2018
	(In millions, except per share results)
Premium Revenue	$4,084	$4,337	$12,085	$13,174
Total Revenue	$4,243	$4,697	$12,555	$14,226
Pre-Tax Income	$233	$259	$750	$743
Net Income	$175	$197	$569	$506
EPS – Diluted	$2.75	$2.90	$8.80	$7.60

MCR	86.3%	87.4%	85.7%	86.2%
G&A Ratio	7.6%	6.6%	7.6%	7.0%
Pre-Tax Margin	5.5%	5.5%	6.0%	5.2%
Effective Tax Rate	24.7%	24.0%	24.1%	31.9%
After-Tax Margin	4.1%	4.2%	4.5%	3.6%

Highlights include:

Premium revenue was $4.1 billion in the third quarter of 2019, a 5.8% decrease compared to the third quarter of 2018.
Medical care ratio (MCR) was 86.3% in the third quarter of 2019 compared to 87.4% for the third quarter of 2018.
General and administrative (G&A) expense ratio increased to 7.6% in the third quarter of 2019 compared to 6.6% for the third quarter of 2018.
The third quarter results include a charge of $2 million, or a $0.03 net loss per diluted share, for the repayment of convertible notes.
After-tax margin was 4.1% for the third quarter of 2019 compared to 4.2% in the third quarter of 2018.
Cash and investments at the parent company amounted to $796 million as of September 30, 2019.
Operating cash flows for the nine months ended September 30, 2019, were $398 million.
Raised full year 2019 earnings guidance to $11.30 – $11.55 from $11.20 – $11.50, which does not include any future prior-period reserve development.
On October 10, 2019, the Company entered into a definitive agreement to acquire certain assets of YourCare Health Plan, Inc. Through this transaction, expected to close early next year, the Company will serve approximately 46,000 Medicaid members in seven counties in Western New York.

“We are pleased with our performance this quarter as we sustained our margin profile, produced significant excess capital, and increased our full year 2019 guidance,” said Joe Zubretsky, president and CEO. “We have accomplished this in the backdrop of commencing our pivot to growth.”

Premium Revenue

Premium revenue for the third quarter of 2019 decreased 5.8% to $4.1 billion compared to $4.3 billion in the third quarter of 2018, which was in line with the Company’s expectations.

For the nine months ended September 30, 2019, premium revenue decreased 8.3% to $12.1 billion, from $13.2 billion for the comparable period in 2018. In both periods, the lower premium revenue is primarily a result of previously announced losses of Medicaid membership in New Mexico and Florida.

Medical Care Ratio

The consolidated MCR for the third quarter of 2019 was 86.3% compared to 87.4% in the third quarter of 2018. Prior period reserve development in the quarter was negligible.

The MCR for the nine months ended September 30, 2019, improved to 85.7% compared to 86.2% for the comparable period in 2018, due to a combination of the following:

The Medicaid MCR improved to 88.2% compared to 90.4% for the nine months ended September 30, 2018, due to improvement in all programs.

The Medicare MCR improved to 85.2% compared to 85.7% for the nine months ended September 30, 2018.
The Marketplace MCR was 66.7% compared to 57.5% for the nine months ended September 30, 2018. The 2018 period was positively impacted by reduced medical care costs from Cost Sharing Reduction (CSR) subsidies related to 2017 dates of service. In addition, the current year was impacted by a relatively smaller benefit from prior-year Marketplace risk adjustment compared to 2018.

General and Administrative Expense Ratio

The general and administrative expenses were 7.6% of total revenues in the third quarter of 2019 compared to 6.6% in the third quarter of 2018.

For the nine months ended September 30, 2019, the G&A ratio was 7.6% compared to 7.0% in the comparable prior-year period. In both periods, the year-over-year increases are due mainly to the year-over-year decline in total revenues.

Interest Expense

Interest expense was $22 million in the third quarter of 2019 compared to $26 million in the third quarter of 2018. The decline was due to continued repayment of convertible notes.

Other Expenses

The third quarter results included a $2 million charge on the repayment of convertible notes, resulting in a $0.03 net loss per diluted share.

Balance Sheet

Cash and investments at the parent company amounted to $796 million as of September 30, 2019, compared to $467 million as of June 30, 2019.

During the third quarter of 2019, the parent company received $430 million of dividends from the regulated health plan subsidiaries.

The Company repaid $55 million of principal on the convertible notes during the quarter, and $240 million since the beginning of the year. The impact of capital deployment actions in the quarter resulted in lower interest expense, a slight loss on repayment of the convertible notes, and a lower share count.

Cash Flow

Operating cash flows for the nine months ended September 30, 2019, amounted to $398 million and were higher compared to the nine months ended September 30, 2018, primarily due to the normal fluctuations of working capital.

Outlook

The Company raised its full year 2019 earnings guidance range to $11.30 – $11.55 per diluted share, from previously issued guidance of $11.20 – $11.50.

Guidance is based on the following:

Assumes no future restructuring or non-run rate significant items; and
Assumes no future prior period development.

	October 29, 2019 ⁽¹⁾	July 30, 2019 ⁽¹⁾
	(current)	(previous)
Premium revenue	$16.1B	$16.1B
Medicaid	$12.4B	$12.3B
Medicare	$2.2B	$2.2B
Marketplace	$1.5B	$1.6B
Premium tax revenue	$565M	$450M
Investment income and other revenue	$135M	$115M
Total revenue	$16.8B	$16.7B
Medical care costs	$13.8B	$13.8B
General and administrative expenses	$1.3B	$1.3B
Premium tax expenses	$565M	$450M
EBITDA ⁽²⁾	$1,140M – $1,160M	$1,135M – $1,160M
Depreciation and amortization	$90M	$90M
Interest expense and other expenses, net	$90M	$90M
Income before income taxes	$960M – $980M	$955M – $980M
Net income	$725M – $740M	$725M – $740M
Net income per share	$11.30 – $11.55	$11.20 – $11.50
Diluted weighted average shares	64.2M	64.5M

End-of-year membership:
Medicaid and Medicare	3.1M	3.1M
Marketplace	270K	270K – 280K

Operating Statistics:
Medical care ratio	86%	86%
G&A ratio	7.7%	7.7%
Effective income tax expense rate	24.3%	24.2%
After-tax margin	4.3% – 4.4%	4.2% – 4.4%
Medicaid	3%	3%
Medicare	7%	7%
Marketplace	11%	11%
__________________
(1) All amounts are rounded and approximations.
(2) See reconciliation of non-GAAP financial measures at the end of this release.

Conference Call

Management will host a conference call and webcast to discuss Molina Healthcare’s third quarter 2019 results at 8:00 a.m. Eastern time on Wednesday, October 30, 2019. The number to call for the interactive teleconference is (877) 883-0383 and the confirmation number is 5680857. A telephonic replay of the conference call will be available through Wednesday, November 6, 2019, by dialing (877) 344-7529 and entering confirmation number 10135133. A live audio broadcast of this conference call will be available on Molina Healthcare’s website, molinahealthcare.com. A 30‑day online replay will be available approximately an hour following the conclusion of the live broadcast.

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 3.3 million members as of September 30, 2019. For more information about Molina Healthcare, please visit molinahealthcare.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This earnings release contains forward-looking statements regarding the Company’s revised 2019 guidance, as well as its plans, expectations, and anticipated future events. Actual results could differ materially due to numerous known and unknown risks and uncertainties. Those risks and uncertainties are discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, and the section entitled “Forward-Looking Statements” in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2019.

These reports can be accessed under the investor relations tab of the Company’s website or on the SEC’s website at sec.gov. Given these risks and uncertainties, the Company can give no assurances that its forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by its forward-looking statements will in fact occur, and the Company cautions investors not to place undue reliance on these statements. All forward-looking statements in this release represent the Company’s judgment as of October 29, 2019, and, except as otherwise required by law, the Company disclaims any obligation to update any forward-looking statements to conform the statement to actual results or changes in its expectations.




UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
	*(In millions, except per-share amounts)*
Revenue:
Premium revenue	$	4,084		$	4,337		$	12,085		$	13,174
Premium tax revenue	119			110			367			320
Health insurer fees reimbursed	—			83			—			248
Service revenue	—			130			—			391
Investment income and other revenue	40			37			103			93
Total revenue	4,243			4,697			12,555			14,226
Operating expenses:
Medical care costs	3,523			3,790			10,360			11,362
General and administrative expenses	323			311			953			998
Premium tax expenses	119			110			367			320
Health insurer fees	—			87			—			261
Depreciation and amortization	21			25			68			76
Restructuring costs	—			5			5			38
Cost of service revenue	—			111			—			349
Total operating expenses	3,986			4,439			11,753			13,404
Gain on sale of subsidiary	—			37			—			37
Operating income	257			295			802			859
Other expenses, net:
Interest expense	22			26			67			91
Other expenses (income), net	2			10			(15		)	25
Total other expenses, net	24			36			52			116
Income before income tax expense	233			259			750			743
Income tax expense	58			62			181			237
Net income	$	175		$	197		$	569		$	506

Net income per share, diluted	$	2.75		$	2.90		$	8.80		$	7.60

Diluted weighted average shares outstanding	63.6			67.9			64.6			66.6

Operating Statistics:
Medical care ratio	86.3		%	87.4		%	85.7		%	86.2		%
G&A ratio	7.6		%	6.6		%	7.6		%	7.0		%
Premium tax ratio	2.8		%	2.5		%	2.9		%	2.4		%
Effective income tax rate	24.7		%	24.0		%	24.1		%	31.9		%
After-tax margin	4.1		%	4.2		%	4.5		%	3.6		%
Medicaid	3.4		%	2.8		%	3.1		%	2.0		%
Medicare	6.4		%	1.4		%	7.0		%	3.7		%
Marketplace	8.1		%	15.3		%	11.9		%	16.7		%





CONSOLIDATED BALANCE SHEETS

	September 30,		December 31,
	2019		2018
	Unaudited
	(Dollars in millions, except per-share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$	2,679	$	2,826
Investments	1,757		1,681
Receivables	1,280		1,330
Prepaid expenses and other current assets	140		149
Derivative asset	21		476
Total current assets	5,877		6,462
Property, equipment, and capitalized software, net	379		241
Goodwill and intangible assets, net	176		190
Restricted investments	79		120
Deferred income taxes	82		117
Other assets	108		24
	$	6,701	$	7,154

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Medical claims and benefits payable	$	1,975	$	1,961
Amounts due government agencies	612		967
Accounts payable and accrued liabilities	478		390
Deferred revenue	207		211
Current portion of long-term debt	15		241
Derivative liability	21		476
Total current liabilities	3,308		4,246
Long-term debt	1,239		1,020
Finance lease liabilities	233		197
Other long-term liabilities	90		44
Total liabilities	4,870		5,507
Stockholders’ equity:
Common stock, $0.001 par value, 150 million shares authorized; outstanding: 63 million shares at September 30, 2019 and 62 million shares at December 31, 2018	—		—
Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding	—		—
Additional paid-in capital	160		643
Accumulated other comprehensive income (loss)	5		(8		)
Retained earnings	1,666		1,012
Total stockholders’ equity	1,831		1,647
	$	6,701	$	7,154





UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
	*(In millions)*
Operating activities:
Net income	$	175		$	197		$	569		$	506
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	21			31			68			104
Deferred income taxes	(12		)	(26		)	7			(32		)
Share-based compensation	10			7			29			20
Amortization of convertible senior notes and finance lease liabilities	1			5			5			18
Loss (gain) on debt repayment	2			10			(15		)	25
Gain on sale of subsidiary	—			(37		)	—			(37		)
Non-cash restructuring costs	—			—			—			17
Other, net	(8		)	2			(5		)	6
Changes in operating assets and liabilities:
Receivables	(41		)	(192		)	50			(507		)
Prepaid expenses and other current assets	(24		)	64			(6		)	(117		)
Medical claims and benefits payable	208			123			14			(144		)
Amounts due government agencies	(372		)	(716		)	(355		)	(511		)
Accounts payable and accrued liabilities	98			49			37			398
Deferred revenue	177			(13		)	(4		)	(55		)
Income taxes	7			(9		)	4			118
Net cash provided by (used in) operating activities	242			(505		)	398			(191		)
Investing activities:
Purchases of investments	(776		)	(288		)	(1,938		)	(1,202		)
Proceeds from sales and maturities of investments	1,099			735			1,890			2,070
Purchases of property, equipment, and capitalized software	(10		)	(10		)	(30		)	(24		)
Other, net	—			(14		)	(2		)	(23		)
Net cash provided by (used in) investing activities	313			423			(80		)	821
Financing activities:
Repayment of principal amount of 1.125% Convertible Notes	(55		)	(140		)	(240		)	(236		)
Cash paid for partial settlement of 1.125% Conversion Option	(105		)	(343		)	(578		)	(477		)
Cash received for partial termination of 1.125% Call Option	105			343			578			477
Cash paid for partial termination of 1.125% Warrants	(90		)	(306		)	(514		)	(419		)
Proceeds from borrowings under Term Loan Facility	—			—			220			—
Repayment of Credit Facility	—			—			—			(300		)
Repayment of 1.625% Convertible Notes	—			(64		)	—			(64		)
Other, net	(3		)	1			24			7
Net cash used in financing activities	(148		)	(509		)	(510		)	(1,012		)
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents	407			(591		)	(192		)	(382		)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	2,327			3,499			2,926			3,290
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	$	2,734		$	2,908		$	2,734		$	2,908





HEALTH PLANS SEGMENT MEMBERSHIP

	September 30, 2019	December 31, 2018	September 30, 2018
Ending Membership by Government Program:
TANF and CHIP	1,993,000	2,295,000	2,436,000
Medicaid Expansion	598,000	660,000	664,000
ABD	364,000	406,000	415,000
Total Medicaid	2,955,000	3,361,000	3,515,000
MMP – Integrated	58,000	54,000	55,000
Medicare Special Needs Plans	44,000	44,000	45,000
Total Medicare	102,000	98,000	100,000
Total Medicaid and Medicare	3,057,000	3,459,000	3,615,000
Marketplace	289,000	362,000	384,000
	3,346,000	3,821,000	3,999,000

Ending Membership by Health Plan:
California	580,000	608,000	623,000
Florida⁽¹⁾	136,000	313,000	395,000
Illinois	224,000	224,000	223,000
Michigan	361,000	383,000	394,000
New Mexico ⁽¹⁾	24,000	222,000	234,000
Ohio	292,000	302,000	315,000
Puerto Rico	186,000	252,000	320,000
South Carolina	134,000	120,000	117,000
Texas	350,000	423,000	436,000
Washington	818,000	781,000	770,000
Other ⁽²⁾	241,000	193,000	172,000
	3,346,000	3,821,000	3,999,000
__________________
(1) The Company’s Medicaid contracts in New Mexico and in all but two regions in Florida terminated in late 2018 and early 2019. During 2019, the Company continues to serve Medicare and Marketplace members in both Florida and New Mexico, as well as Medicaid members in two regions in Florida.
(2) “Other” includes the Idaho, Mississippi, New York, Utah and Wisconsin health plans, which are not individually significant to the Company’s consolidated operating results.





UNAUDITED SELECTED FINANCIAL DATA (In millions, except percentages and per-member per-month amounts) HEALTH PLANS SEGMENT FINANCIAL DATA — BY GOVERNMENT PROGRAM

	Member Months ⁽¹⁾	Premium Revenue				Medical Care Costs				MCR ⁽²⁾		Medical Margin
	Member Months ⁽¹⁾	Total		PMPM		Total		PMPM		MCR ⁽²⁾		Medical Margin
	Three Months Ended September 30, 2019
TANF and CHIP	6.0	$	1,225	$	202.46	$	1,071	$	176.88	87.4	%	$	154
Medicaid Expansion	1.8	696		385.63		622		345.25		89.5		74
ABD	1.1	1,247		1,136.67		1,097		1,000.56		88.0		150
Total Medicaid	8.9	3,168		353.81		2,790		311.70		88.1		378
MMP	0.2	399		2,328.70		345		2,010.50		86.3		54
Medicare	0.1	160		1,230.01		134		1,029.75		83.7		26
Total Medicare	0.3	559		1,854.96		479		1,587.61		85.6		80
Total Medicaid and Medicare	9.2	3,727		402.76		3,269		353.31		87.7		458
Marketplace	0.9	357		410.23		254		292.21		71.2		103
	10.1	$	4,084	$	403.40	$	3,523	$	348.06	86.3	%	$	561


	Three Months Ended September 30, 2018
TANF and CHIP	7.4	$	1,379	$	187.03	$	1,228	$	166.41	89.0	%	$	151
Medicaid Expansion	2.0	671		333.11		640		317.62		95.3		31
ABD	1.2	1,322		1,054.92		1,186		946.38		89.7		136
Total Medicaid	10.6	3,372		316.86		3,054		286.86		90.5		318
MMP	0.2	353		2,159.72		323		1,981.45		91.7		30
Medicare	0.1	156		1,157.71		121		895.25		77.3		35
Total Medicare	0.3	509		1,706.95		444		1,490.63		87.3		65
Total Medicaid and Medicare	10.9	3,881		354.70		3,498		319.63		90.1		383
Marketplace	1.2	456		394.02		292		252.61		64.1		164
	12.1	$	4,337	$	358.46	$	3,790	$	313.23	87.4	%	$	547


	Nine Months Ended September 30, 2019
TANF and CHIP	18.3	$	3,594	$	196.01	$	3,141	$	171.30	87.4	%	$	453
Medicaid Expansion	5.4	2,055		380.08		1,810		334.85		88.1		245
ABD	3.3	3,590		1,097.94		3,200		978.64		89.1		390
Total Medicaid	27.0	9,239		342.03		8,151		301.77		88.2		1,088
MMP	0.5	1,193		2,368.38		1,034		2,051.90		86.6		159
Medicare	0.4	489		1,270.32		399		1,037.24		81.7		90
Total Medicare	0.9	1,682		1,892.63		1,433		1,612.29		85.2		249
Total Medicaid and Medicare	27.9	10,921		391.44		9,584		343.53		87.8		1,337
Marketplace	2.8	1,164		414.17		776		276.28		66.7		388
	30.7	$	12,085	$	393.52	$	10,360	$	337.37	85.7	%	$	1,725


	Nine Months Ended September 30, 2018
TANF and CHIP	22.3	$	4,145	$	186.12	$	3,705	$	166.35	89.4	%	$	440
Medicaid Expansion	6.1	2,184		359.37		1,957		322.01		89.6		227
ABD	3.7	3,864		1,034.25		3,550		950.11		91.9		314
Total Medicaid	32.1	10,193		317.70		9,212		287.10		90.4		981
MMP	0.5	1,077		2,173.90		941		1,899.26		87.4		136
Medicare	0.4	470		1,171.59		385		959.54		81.9		85
Total Medicare	0.9	1,547		1,725.71		1,326		1,479.06		85.7		221
Total Medicaid and Medicare	33.0	11,740		355.96		10,538		319.50		89.8		1,202
Marketplace	3.8	1,434		379.91		824		218.44		57.5		610
	36.8	$	13,174	$	358.42	$	11,362	$	309.12	86.2	%	$	1,812
__________________
(1) A member month is defined as the aggregate of each month’s ending membership for the period presented.
(2) The MCR represents medical costs as a percentage of premium revenue.





HEALTH PLANS SEGMENT FINANCIAL DATA — MEDICAID AND MEDICARE

	Member Months	Premium Revenue				Medical Care Costs				MCR		Medical Margin
	Member Months	Total		PMPM		Total		PMPM		MCR		Medical Margin
	Three Months Ended September 30, 2019
California	1.6	$	510	$	315.90	$	423	$	261.97	82.9	%	$	87
Florida	0.3	130		436.99		127		427.80		97.9		3
Illinois	0.7	257		383.41		232		347.28		90.6		25
Michigan	1.1	401		373.01		332		307.97		82.6		69
Ohio	0.9	615		687.38		563		628.98		91.5		52
Puerto Rico	0.6	117		209.25		102		182.53		87.2		15
South Carolina	0.4	151		379.20		138		347.23		91.6		13
Texas	0.7	592		912.76		540		833.51		91.3		52
Washington	2.3	643		269.52		570		238.55		88.5		73
Other ^{(1) (2)}	0.6	311		437.60		242		341.29		78.0		69
	9.2	$	3,727	$	402.76	$	3,269	$	353.31	87.7	%	$	458

	Three Months Ended September 30, 2018
California	1.7	$	435	$	249.00	$	446	$	255.22	102.5	%	$	(11	)
Florida	1.0	388		363.16		362		339.33		93.4		26
Illinois	0.7	207		312.72		182		274.98		87.9		25
Michigan	1.1	397		350.05		321		282.49		80.7		76
New Mexico ⁽²⁾	0.6	304		471.66		275		426.69		90.5		29
Ohio	0.9	584		624.84		532		568.93		91.1		52
Puerto Rico	1.0	179		189.65		162		171.96		90.7		17
South Carolina	0.4	124		354.53		112		318.56		89.9		12
Texas	0.7	577		848.47		525		772.14		91.0		52
Washington	2.3	511		226.77		444		197.04		86.9		67
Other ⁽¹⁾	0.5	175		334.29		137		261.49		78.2		38
	10.9	$	3,881	$	354.70	$	3,498	$	319.63	90.1	%	$	383

	Nine Months Ended September 30, 2019
California	4.9	$	1,508	$	306.96	$	1,286	$	261.76	85.3	%	$	222
Florida	1.0	418		410.71		374		367.95		89.6		44
Illinois	2.0	726		365.35		632		318.26		87.1		94
Michigan	3.3	1,199		370.77		990		305.99		82.5		209
Ohio	2.7	1,835		682.59		1,653		614.89		90.1		182
Puerto Rico	1.8	341		190.42		301		167.98		88.2		40
South Carolina	1.2	427		368.35		378		326.61		88.7		49
Texas	2.0	1,789		910.64		1,623		826.20		90.7		166
Washington	7.1	1,868		261.92		1,691		236.98		90.5		177
Other ^{(1) (2)}	1.9	810		402.31		656		325.93		81.0		154
	27.9	$	10,921	$	391.44	$	9,584	$	343.53	87.8	%	$	1,337

	Nine Months Ended September 30, 2018
California	5.3	$	1,446	$	270.63	$	1,299	$	243.14	89.8	%	$	147
Florida	3.2	1,147		356.15		1,069		331.93		93.2		78
Illinois	1.8	551		308.45		474		265.47		86.1		77
Michigan	3.4	1,161		343.08		983		290.26		84.6		178
New Mexico ⁽²⁾	2.0	936		469.19		875		438.70		93.5		61
Ohio	2.8	1,670		590.71		1,474		521.26		88.2		196
Puerto Rico	2.9	549		190.34		501		173.83		91.3		48
South Carolina	1.1	369		350.94		323		306.76		87.4		46
Texas	2.1	1,715		831.21		1,554		753.31		90.6		161
Washington	6.8	1,666		245.40		1,544		227.41		92.7		122
Other ⁽¹⁾	1.6	530		323.84		442		269.98		83.4		88
	33.0	$	11,740	$	355.96	$	10,538	$	319.50	89.8	%	$	1,202
_______________
(1) “Other” includes the Idaho, Mississippi, New York, Utah and Wisconsin health plans, which are not individually significant to the Company’s consolidated operating results.
(2) In 2019, “Other” includes the New Mexico health plan. The New Mexico health plan’s Medicaid contract terminated on December 31, 2018, and therefore its 2019 results are not individually significant to the Company’s consolidated operating results.

Contacts

Investor Contact: Julie Trudell, [email protected], 562-912-6720

Media Contact: Caroline Zubieta, [email protected], 562-951-1588

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