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Molina Healthcare was founded in 1980 by C. David Molina, an emergency room physician in Long Beach, California. [4] He had seen an influx of patients using the emergency room for common illnesses such as a sore throat or the flu because they were being turned away by doctors who would not accept Medi-Cal.
In 2009 Molina Healthcare took in $3.7 billion, of which $31 million was profit. [2] Molina's personal total compensation for 2014 was: $7,854,147. [3] Employment history
Molina Healthcare, a major Medicaid provider, said that it was considering exiting some markets in 2018, citing "too many unknowns with the marketplace program." Molina lost $110 million in 2016 due to having to contribute $325 million more than expected to the ACA "risk transfer" fund that compensated insurers with unprofitable risk pools.
In 1752, Benjamin Franklin founded the first American insurance company as Philadelphia Contributionship.In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail.
Molina, a common name for the plant Dysopsis glechomoides; Molina's hog-nosed skunk (Conepatus chinga), a South American skunk species; Molina Healthcare, an American managed care company; Ballester–Molina, semi-automatic pistol, Argentina, introduced 1938
Health Care Service Corporation, a Mutual Legal Reserve Company, (HCSC) is a member-owned health insurance company in the United States. HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975.
UnitedHealth Group originated in late 1974, when Minnesota-based Charter Med Incorporated was founded by Richard Taylor Burke.It originally processed claims for doctors at the Hennepin County Medical Society. [5]
The Cigna Group is an American multinational for-profit managed healthcare and insurance company based in Bloomfield, Connecticut. [2] [3] Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g., governmental and non-governmental ...