Top Health Insurance Carriers: Molina Healthcare

Molina Healthcare is heavily involved in the individual medical market. After the Affordable Care Act passed in 2010 and began rolling out in 2014, Molina has since been providing health insurance. They’re in several states, selling on exchange only through either or their broker portal. For the most part, they’re doing well. However, like all other health insurance carriers, Molina is losing money, though not nearly as much as other companies.

Because they were familiar with Medicaid, which uses small networks, Molina kept their Obamacare plans limited to small networks as well. Meanwhile, big companies like Anthem BCBS, United Healthcare, Aetna, etc. used large networks. The larger the network, the bigger the financial losses. So by implementing small networks in their health plans, Molina was able to curb significant financial losses. With the Affordable Care Act, small networks are really all that work, which is why Molina is faring better than some other carriers.

In Texas, for example, there used to be nothing but PPO networks available on the market. In other words, people could see any doctor and visit any hospital – in network and out of network. Now, however, there are only HMOs available in Texas, meaning smaller networks. So as the Affordable Care Act continues to govern the individual healthcare industry, the bigger companies will continue to shrink their networks. Only by creating smaller networks can companies manage and control costs. Having already established smaller networks on the individual market, Molina suffered fewer losses than bigger companies.

All in all, they’re doing well and will continue to provide health insurance on the market. Though they’re doing well, they likely won’t expand; for that matter, no carrier is really looking to expand. In some instances, carriers are leaving the market in part or completely. Since they did relatively better than some of their competitors, Molina will probably remain in the market as is. Ultimately, they’re a great carrier. So if you’re looking for qualified health insurance, then consider applying for Molina Healthcare.

Since insurance is oftentimes overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions.  So if you have any questions or concerns, comment below and your question may be the topic of our next video!

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