#AFFINITY HEALTHCARE HOW TO#

This press release contains вЂњforward-looking statementsвЂќ regarding the proposed acquisition by Molina of certain assets of Affinity Health Plan. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 For more information about Molina Healthcare, please visit. Through its locally operated health plans, Molina Healthcare served approximately 3.6 million members as of June 30, 2020. Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. acted as financial advisor, and Milbank LLP, Ropes & Gray LLP, and Latham & Watkins LLP served as legal advisors to Molina.

It is expected to close in the second quarter of 2021.Дeutsche Bank Securities Inc. The transaction is subject to receipt of applicable federal and state regulatory approvals, and satisfaction of other customary closing conditions. The net purchase price of approximately $380 million represents less than 30% of premium revenues for the twelve months ended July 31, 2020, and the transaction is expected to be immediately accretive to adjusted earnings per share. The transaction provides added stability to AffinityвЂ™s Medicaid members and its state partner during this critical time.вЂќ Zubretsky continued, вЂњThe acquisition of Affinity provides us with a stable base of membership and revenue and will deepen MolinaвЂ™s service offerings in New York, allowing us to meet the needs of hundreds of thousands of additional Medicaid members. We believe MolinaвЂ™s strengths, including its strong balance sheet and demonstrated operating capabilities, will allow us to strengthen the financial base of Affinity and improve the businessвЂ™s cost structure and operating margins,вЂќ said Joe Zubretsky, president and chief executive officer of Molina. вЂњThe addition of Affinity is yet another important marker in activating our growth strategy, and is a perfect product line and geographic fit. AffinityвЂ™s premium revenue for the trailing twelve months ended July 31, 2020, was approximately $1.3 billion. As of August 31, 2020, Affinity served approximately 284,000 Medicaid members. It has a 35 year history of supporting Medicaid managed care populations and has long demonstrated a deep commitment to the communities it serves. Molina intends to fund the purchase with cash on hand.ДЄffinity is a Medicaid managed care organization serving members in New York City, Westchester, Orange, Nassau, Suffolk, and Rockland counties in New York. The purchase price for the transaction is approximately $380 million, net of expected tax benefits and inclusive of an amount representing MolinaвЂ™s target allocation of required regulatory capital. (NYSE: MOH) (вЂњMolinaвЂќ) announced today that it has entered into a definitive agreement to acquire substantially all of the assets of Affinity Health Plan (вЂњAffinityвЂќ). Maintains Stability for New York State Partner Immediately Accretive to Adjusted Earnings Per Share If you suspect fraud, call 1-800-MEDICARE.Represents Excellent Fit with Existing Portfolio Hang up and call your doctor or Medicare at the number on your card. Remember, if you get a phone call and you're even slightly suspicious, do not share your ID number, home address or other personal information. Scams claiming to be with Medicare are targeting patients and fraudulent activity tends to increase around the Medicare Open Enrollment period.

#AFFINITY HEALTHCARE HOW TO#

Protect yourself and your loved ones by learning about the most common Medicare scams and how to determine whether communication from your doctor, your insurer or the Centers for Medicare & Medicaid Services (CMS) is legitimate. We are working with local and state government and health agencies to help distribute vaccinations as they become available in our communities.

Persons without an appointment will not be able to receive the vaccine and walk-ins will not be available. Appointments for the vaccine must be scheduled in advance. View vaccination updates for your local area. Many of our Ascension locations are beginning to provide the COVID-19 vaccine and will notify eligible patients as appointment times are made available.

We are grateful for the overwhelmingly positive community response to receiving the COVID-19 vaccine. Thank you for trusting us with your care.

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