Well one of the stars and big winners of ACA (Obamacare) was
at one time Molina Healthcare Inc.. Well, NOT ANY MORE.
Molina announced is cutting costs, shrinking its headcount and exiting
some Obamacare markets after a steep second-quarter loss, three months after pushing
out the brothers who’d led the firm their father founded.
The company said it’s eliminating about 1,500 jobs as part of a restructuring plan that
it hopes will save $300 million to $400 million by late next year. Molina also withdrew
its 2017 earnings outlook. The company also said that it will exit money-losing ACA
markets in UT and WI for next year and increase rates sharply elsewhere.