-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WX+kh22FxkfxPYNsnGoKXe0kLsGHDsy5S2LMOD4MXF8glk9oQI1cbwI/9nINkDgl +BstXRqnNzQkLeFP9ubObA== 0000950137-07-014340.txt : 20070919 0000950137-07-014340.hdr.sgml : 20070919 20070919151244 ACCESSION NUMBER: 0000950137-07-014340 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070919 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070919 DATE AS OF CHANGE: 20070919 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOLINA HEALTHCARE INC CENTRAL INDEX KEY: 0001179929 STANDARD INDUSTRIAL CLASSIFICATION: HOSPITAL & MEDICAL SERVICE PLANS [6324] IRS NUMBER: 134204626 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31719 FILM NUMBER: 071124476 BUSINESS ADDRESS: STREET 1: ONE GOLDEN SHORE DRIVE CITY: LONG BEACH STATE: CA ZIP: 90802 BUSINESS PHONE: 5624353666 MAIL ADDRESS: STREET 1: ONE GOLDEN SHORE DRIVE CITY: LONG BEACH STATE: CA ZIP: 90802 8-K 1 a33697e8vk.htm FORM 8-K e8vk
Table of Contents

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 19, 2007
 
MOLINA HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)
         
Delaware
(State of incorporation)
  1-31719
(Commission File Number)
  13-4204626
(I.R.S. Employer Identification Number)
 
One Golden Shore Drive, Long Beach, California 90802
(Address of principal executive offices)
Registrant’s telephone number, including area code: (562) 435-3666
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


TABLE OF CONTENTS

Item 8.01. Other Events.
Item 9.01. Financial Statements and Exhibits.
SIGNATURE
EXHIBIT INDEX
EXHIBIT 99.1


Table of Contents

Item 8.01. Other Events.
     In both its Quarterly Report on Form 10-Q filed on May 7, 2007 and its Quarterly Report on Form 10-Q filed on August 7, 2007, the Company had included certain tables summarizing various categories of unaudited financial information by individual health plan. The four categories are: premium revenue, medical care costs, medical care ratio, and premium taxes. The tables included in the Company’s two Form 10-Q filings covered the first and second quarters of 2007, and the first and second quarters of 2006.
     Attached hereto as Exhibit 99.1 and incorporated herein by reference is the same plan-level financial information covering the third and fourth quarters of 2006. For ease of reference, a total of ten tables are presented in chronological order starting with the first quarter of 2006, six of which tables were previously filed and four of which are being filed originally herewith. All financial information in the tables is unaudited. The first three tables and the eighth through tenth tables as presented were previously filed as part of the Company’s Form 10-Q for the relevant time periods as described above. The fourth through seventh tables presented, which show the same plan-level financial information for the three months ended September 30, 2006, the nine months ended September 30, 2006, the three months ended December 31, 2006, and the twelve months ended December 31, 2006, respectively, are new.
     The Company believes the four new tables covering its 2006 fiscal year will better allow readers to track on a continuous basis over time the historical performance of its individual health plans. The Company will file the corresponding tables for the quarter and nine months ended September 30, 2007 when it files its Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, and likewise will file the corresponding tables for the quarter and twelve months ended December 31, 2007 when it files its Annual Report on Form 10-K for the year ended December 31, 2007.
Item 9.01. Financial Statements and Exhibits.
     (d) Exhibits:
     
Exhibit    
No.   Description
99.1
  Tables summarizing by quarter and by health plan premium revenue, medical care costs, medical care ratio, and premium taxes.

 


Table of Contents

SIGNATURE
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  MOLINA HEALTHCARE, INC.
 
 
Date: September 19, 2007  By:   /s/ Mark L. Andrews    
    Mark L. Andrews    
    Chief Legal Officer, General Counsel, and Corporate Secretary   
 

 


Table of Contents

EXHIBIT INDEX
     
Exhibit    
No.   Description
99.1
  Tables summarizing by quarter and by health plan premium revenue, medical care costs, medical care ratio, and premium taxes.

 

EX-99.1 2 a33697exv99w1.htm EXHIBIT 99.1 exv99w1
 

EXHIBIT 99.1
     The following unaudited tables summarize by health plan premium revenue, medical care costs, medical care ratio, and premium taxes for each of the four quarters of 2006 and the first two quarters of 2007 (amounts in thousands, except PMPM amounts which are in whole dollars):
                                                 
    Three Months Ended March 31, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 93,539     $ 98.73     $ 78,062     $ 82.39       83.5 %   $ 3,027  
Indiana
    13,551       172.50       12,032       153.17       88.8 %      
Michigan
    77,708       180.29       59,902       138.98       77.1 %     4,741  
New Mexico
    55,580       312.27       47,638       267.65       85.7 %     1,877  
Ohio
    10,111       211.23       9,037       188.79       89.4 %     456  
Utah
    43,847       242.13       39,805       219.81       90.8 %      
Washington
    154,908       178.48       132,144       152.26       85.3 %     2,704  
Other
    50             4,627                    
 
                                         
Total
  $ 449,294     $ 164.46     $ 383,247     $ 140.29       85.3 %   $ 12,805  
 
                                         
                                                 
    Three Months Ended June 30, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 92,032     $ 99.34     $ 82,254     $ 88.79       89.4 %   $ 2,957  
Indiana
    16,696       167.50       15,564       156.15       93.2 %      
Michigan
    101,822       180.32       79,999       141.67       78.6 %     6,013  
New Mexico
    53,860       305.87       43,486       246.96       80.7 %     1,998  
Ohio
    18,467       214.96       16,696       194.35       90.4 %     813  
Utah
    43,626       243.58       40,062       223.67       91.8 %      
Washington
    153,344       178.64       118,284       137.80       77.1 %     2,646  
Other
    (24 )           5,370                    
 
                                         
Total
  $ 479,823     $ 166.01     $ 401,715     $ 138.99       83.7 %   $ 14,427  
 
                                         
                                                 
    Six Months Ended June 30, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 185,571     $ 99.03     $ 160,316     $ 85.55       86.4 %   $ 5,984  
Indiana
    30,247       169.70       27,596       154.83       91.2 %      
Michigan
    179,530       180.31       139,901       140.51       77.9 %     10,754  
New Mexico
    109,440       309.09       91,124       257.36       83.3 %     3,875  
Ohio
    28,578       213.62       25,733       192.36       90.1 %     1,269  
Utah
    87,473       242.85       79,867       221.73       91.3 %      
Washington
    308,252       178.56       250,428       145.07       81.2 %     5,350  
Other
    26             9,997                    
 
                                         
Total
  $ 929,117     $ 165.26     $ 784,962     $ 139.62       84.5 %   $ 27,232  
 
                                         
                                                 
    Three Months Ended September 30, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 93,590     $ 102.71     $ 85,283     $ 93.59       91.1 %   $ 2,934  
Indiana
    24,626       164.15       25,384       169.20       103.1 %      
Michigan
    122,209       179.25       95,049       139.42       77.8 %     7,505  
New Mexico
    58,648       324.51       50,533       279.61       86.2 %     2,164  
Ohio
    20,977       219.76       20,466       214.41       97.6 %     968  
Texas
    280       108.86       381       148.47       136.4 %     24  
Utah
    39,268       234.81       35,961       215.03       91.6 %      
Washington
    152,481       180.40       112,372       132.95       73.7 %     2,587  
Other
    1             5,441                   2  
 
                                         
Total
  $ 512,080     $ 168.77     $ 430,870     $ 142.00       84.1 %   $ 16,184  
 
                                         

 


 

                                                 
    Nine Months Ended September 30, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 279,161     $ 100.23     $ 245,599     $ 88.18       88.0 %   $ 8,918  
Indiana
    54,873       167.16       52,980       161.40       96.6 %      
Michigan
    301,739       179.88       234,950       140.06       77.9 %     18,259  
New Mexico
    168,088       314.30       141,657       264.88       84.3 %     6,039  
Ohio
    49,555       216.18       46,199       201.54       93.2 %     2,237  
Texas
    280       108.86       381       148.47       136.4 %     24  
Utah
    126,741       240.30       115,828       219.61       91.4 %      
Washington
    460,733       179.17       362,800       141.08       78.7 %     7,937  
Other
    27             15,438                   2  
 
                                         
Total
  $ 1,441,197     $ 166.49     $ 1,215,832     $ 140.45       84.4 %   $ 43,416  
 
                                         
                                                 
    Three Months Ended December 31, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 92,910     $ 102.29     $ 82,933     $ 91.31       89.3 %   $ 2,820  
Indiana
    28,073       164.60       26,431       154.97       94.2 %      
Michigan
    128,096       186.23       100,746       146.47       78.6 %     7,723  
New Mexico
    53,509       279.31       45,803       239.09       85.6 %     2,164  
Ohio
    45,196       212.18       40,050       188.02       88.6 %     2,028  
Texas
    4,228       135.38       4,307       137.89       101.9 %     55  
Utah
    38,766       239.46       35,589       219.84       91.8 %      
Washington
    153,017       182.46       121,635       145.04       79.5 %     2,569  
Other
    117             5,326                   2  
 
                                         
Total
  $ 543,912     $ 169.81     $ 462,820     $ 144.50       85.1 %   $ 17,361  
 
                                         
                                                 
    Twelve Months Ended December 31, 2006  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 372,071     $ 100.74     $ 328,532     $ 88.95       88.3 %   $ 11,738  
Indiana
    82,946       166.29       79,411       159.20       95.7 %      
Michigan
    429,835       181.73       335,696       141.93       78.1 %     25,982  
New Mexico
    221,597       305.07       187,460       258.08       84.6 %     8,203  
Ohio
    94,751       214.25       86,249       195.03       91.0 %     4,265  
Texas
    4,508       133.37       4,688       138.70       104.0 %     79  
Utah
    165,507       240.10       151,417       219.66       91.5 %      
Washington
    613,750       179.98       484,435       142.06       78.9 %     10,506  
Other
    144             20,764                   4  
 
                                         
Total
  $ 1,985,109     $ 167.39     $ 1,678,652     $ 141.55       84.6 %   $ 60,777  
 
                                         

 


 

                                                 
    Three Months Ended March 31, 2007  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 92,932     $ 104.89     $ 76,324     $ 86.14       82.1 %   $ 3,030  
Michigan
    123,766       185.06       104,601       156.40       84.5 %     7,509  
New Mexico
    57,193       297.61       49,219       256.12       86.1 %     2,216  
Ohio
    74,944       220.37       69,262       203.66       92.4 %     3,372  
Texas
    14,456       218.47       13,348       201.73       92.3 %     257  
Utah
    30,927       205.63       28,466       189.27       92.0 %      
Washington
    161,982       189.20       131,259       153.32       81.0 %     2,684  
Other
    35             3,998                   33  
 
                                         
Total
  $ 556,235     $ 176.04     $ 476,477     $ 150.80       85.7 %   $ 19,101  
 
                                         
                                                 
    Three Months Ended June 30, 2007  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 94,710     $ 108.43     $ 76,185     $ 87.22       80.4 %   $ 3,202  
Michigan
    121,427       184.43       101,184       153.68       83.3 %     7,364  
New Mexico
    61,337       312.44       52,949       269.71       86.3 %     1,394  
Ohio
    111,457       279.18       101,515       254.28       91.1 %     5,016  
Texas
    24,953       273.48       22,774       249.59       91.3 %     433  
Utah
    30,033       206.15       26,535       182.14       88.4 %      
Washington
    162,905       189.45       130,726       152.02       80.2 %     2,685  
Other
    305             4,997                   (19 )
 
                                         
Total
  $ 607,127     $ 188.30     $ 516,865     $ 160.30       85.1 %   $ 20,075  
 
                                         
                                                 
    Six Months Ended June 30, 2007  
    Premium Revenue     Medical Care Costs     Medical     Premium Tax  
    Total     PMPM     Total     PMPM     Care Ratio     Expense  
California
  $ 187,642     $ 106.64     $ 152,509     $ 86.68       81.3 %   $ 6,232  
Michigan
    245,193       184.75       205,785       155.05       83.9 %     14,873  
New Mexico
    118,530       305.11       102,168       262.99       86.2 %     3,610  
Ohio
    186,401       252.13       170,777       231.00       91.6 %     8,388  
Texas
    39,409       250.35       36,122       229.47       91.7 %     690  
Utah
    60,960       205.88       55,001       185.76       90.2 %      
Washington
    324,887       189.33       261,985       152.67       80.6 %     5,369  
Other
    340             8,995                   14  
 
                                         
Total
  $ 1,163,362     $ 182.23     $ 993,342     $ 155.60       85.4 %   $ 39,176  
 
                                         

 

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