Dive Brief:
Molina added 1.2 million members to its insurance plans during the first quarter of 2020, a significant jump from the first quarter of last year thanks in part to acquisitions executed in the latter half of the year, including its takeover of a Kentucky Medicaid plan, Passport Health, that netted the firm more than 315,000 new members.
The 35% bump in members spurred a sizable increase in both revenue and and profit for the quarter. Overall, the financial impact of COVID-19 on the quarter had little effect, the company said. Savings from deferred care were offset by COVID-19 medical costs and risk corridors.
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