Molina Healthcare (MOH) Updates on Reimbursement Efforts of ACA Annual Fee

Molina Healthcare (NYSE: MOH) issued the following update today:

We are providing a status update regarding our efforts to obtain full reimbursement of the Affordable Care Act (ACA) annual fee. The Company currently expects to recognize revenue in connection with the reimbursement of the ACA annual fee, including a gross-up payment for the associated tax effects, for the second quarter of 2014 in a manner consistent with the Company’s first quarter of 2014. The table attached hereto and furnished as Exhibit 99.1 (embedded below) summarizes the current status of our efforts to obtain contractual commitments to full reimbursement from the state Medicaid agencies in which we operate our health plans. While we continue to expect that we will ultimately be reimbursed for the ACA annual fee and the associated tax effects, the current lack of contractual commitments from the majority of states in which we operate our health plans could have a material adverse effect on our second quarter operating results.

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