November 2, 2017 / 8:26 PM / in a year

Insurer Molina Health posts quarterly loss

Nov 2 (Reuters) - Health insurer Molina Healthcare Inc on Thursday reported a quarterly loss, hit by lower enrollments and higher costs.

Molina’s results come at a time when the insurance market is in a mayhem over President Donald Trump’s decision to scrap off billions of dollars in subsidies, that help health insurers give discounts to low-income families.

The company posted a net loss of $97 million, or $1.70 per share, in the third quarter ended Sept. 30, compared with a profit of $42 million, or 76 cents per share, a year earlier.

Total revenue rose to $5.03 billion from $4.55 billion. (Reporting by Divya Grover in Bengaluru; Editing by Shounak Dasgupta)

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