Exhibit 99.1

Molina Healthcare

3Q Update

2006 Credit Suisse Healthcare Conference

November 15-17, 2006

Phoenix, AZ

2

“Safe Harbor”

Statement under the Private Securities Litigation Reform Act of

1995:

Anyone viewing or listening to this presentation is expected to

have read

Molina’s Form 10-K for the year ended December 31, 2005, and its Forms 10-

Q for the quarters ended March 31, 2006, June 30, 2006 and September 30,

2006. Any statements made herein that are not historical facts are forward-

looking and thus subject to numerous risks and uncertainties that could cause

our actual results to differ materially.

Such forward-looking statements should

be

considered

in

connection

with

the

risk

factors

and

cautionary

statements

contained in our Forms 10-K and 10-Q and in our other reports and filings with

the Securities and Exchange Commission. Unless otherwise noted, all forward-

looking statements represent our judgment as of November 16, 2006, and we

disclaim any obligation to update such statements.

Cautionary Statement

3

Washington

280,000

New Mexico

62,000

Utah

54,000

Utah

54,000

Indiana

54,000

Michigan

227,000

Texas

3,000

California

302,000

Ohio

33,000

** All membership figures as of 9/30/2006

Contract

diversification

Organic growth

Acquisitions

Start ups

New populations

membership

growth

membership

growth

(in thousands)

405

489

788

893

564

1,015**

298

'00

'01

'02

'03

'04

'05

'06

Molina Markets & Members**

4

Third Quarter Financial Review

1,015,000

$517.5M

84.1%

11.7%

8.6%

$12.3M

$0.44

28.3M

Enrollment

Revenue

Medical Care Ratio

G&A Ratio

Core G&A

Net Income

Diluted EPS

Diluted Shares Outstanding

904,000

$428.6M

86.1%

11.0%

7.4%

$6.8M

$0.24

28.1M

3Q05

3Q06

5

Columbus

Cincinnati

Dayton

New Leadership:

Jesse Thomas

Central Region Expansion

Mandatory effective 12/1

Systems error identified

affecting ABD awards

East Central, Central,

& South West

Molina Healthcare of Ohio

NOT affected

Expansion Update

Ohio

Ohio

6

Texas Update

STAR  (TANF Product)

Started September 2006

(Houston)

Healthy Families  (CHIP Product)

Starts January 2007

(Houston)

STAR+PLUS  (ABD Product)

Starts January 2007

(San Antonio & Houston)

Houston

San Antonio

7

Quality

Quality

Accreditation

Quality

Accreditation

6 eligible

Molina

health plans

accredited by

NCQA &

HEDIS scores

posted on-line

All of Molina’s eligible health plans

named among the nation’s Top 50

Medicaid

health plans by US News &

World Report*

MHW:     state’s top

plan

MHC:      top 5

(2 plans) in CA

MHM:      top ten in MI

MHU:      state’s

top plan and

12th nationally

* source: http://www.whitehouse.gov/news/releases/2006/08/20060822-2.html

State Medicaid rankings:

8

Investment Highlights

A Solution to State’s rising Medicaid budgets

Diversified geographically and into new

populations

Demonstrated commitment to quality

Competitive administrative cost structure

Experienced management team

25+ year history

9

Q&A