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Saturday, May 30, 2020

Evolent comes up empty on Kentucky Medicaid contract

Evolent Health (NYSE:EVH) reports that the Kentucky Cabinet for Health and Family Services has notified Passport Health Plan, a Louisville-based community health plan that it co-owns with certain Kentucky-based providers, that it has not been awarded a contract to administer Medicaid services for the upcoming three-year contract period beginning January 1, 2021, its main source of business that it has maintained for 23 years. Passport intends to protest the decision.
Five managed care organizations will provide services to Medicaid members in the state including Humana (NYSE:HUM) and Molina Healthcare (NYSE:MOH). The status of Anthem (NYSE:ANTM), one of the current contract providers that was also shut out in amid a controversy between outgoing and incoming governors in late 2019, is unclear.
The total value of the state’s Medicaid contract is north of $8B per year.
EVH will host a conference call on Monday, June 1, at 8:30 am ET to discuss the matter.
https://seekingalpha.com/news/3578825-evolent-comes-up-empty-on-kentucky-medicaid-contract

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