Molina Healthcare, Inc. MOH recently announced that it will continue eliminating certain “out-of-pocket” expenses related to testing and treating COVID-19 through Dec 31, 2020. This initiative is for members covered under the company’s Medicare, Medicaid and Marketplace businesses.
Rationale Behind the Initiative
This strategic move aims to provide some respite to the members amid the coronavirus pandemic. Following the news of the fatal COVID-19 outbreak in the United States, Molina Healthcare had first removed specific ‘out-of-pocket’ costs required for COVID-19 testing in March.
Other Measures Taken
Molina Healthcare made other efforts as well, such as catering virtual health care services to Marketplace, Medicare and Medicaid members via its partnership with Teladoc Health, Inc. TDOC. Along with containing the virus spread, such policies facilitate communication between homebound clients and their healthcare providers.
The company also reminds its members of easily accessing free home delivery of prescriptions through any CVS Pharmacy. It also covers screening tests for COVID-19 detection as well as monitor and implement telehealth coverage in compliance with the state Medicaid agency and CMS guidance.
Additionally, this leading health insurer offers its Coronavirus Chatbot tool to members who want information on COVID-19 risk factors. The same can be checked on the Molina Healthcare website, member portal and mobile app.
The way the company ramped up its endeavors to fight the coronavirus outbreak is quite commendable. Two of its industry peers, namely Anthem, Inc. ANTM and Cigna Corporation CI also took initiatives to eradicate costs in relation to the COVID-19 treatment process.
Zacks Rank and Price Performance
Shares of this Zacks Rank #3 (Hold) company have rallied 26.6% year to date against the industry’s decline of 0.5%. We believe that the company’s solid fundamentals are likely to retain its existing momentum in the long run. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Click to get this free report Cigna Corporation (CI) : Free Stock Analysis Report Molina Healthcare, Inc (MOH) : Free Stock Analysis Report Anthem, Inc. (ANTM) : Free Stock Analysis Report Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research