Molina Healthcare Inc. (NYSE: MOH) announced that the Illinois Department of Healthcare and Family Services intends to award a HealthChoice Illinois Medicaid Managed Care program contract to its Illinois subsidiary.

The contract is expected to begin January 1, 2027, with a duration of four-and-a-half years and an option to extend up to an additional five-and-a-half years at the state's discretion. Molina Healthcare of Illinois will be one of six health plans serving Illinois's approximately 3.1 million Medicaid beneficiaries.

The company noted in its announcement that the award is subject to risks including potential protests, legal action, delays in the start date, or a shorter contract term than expected.

Molina Healthcare provides managed healthcare services under Medicaid and Medicare programs and through state insurance marketplaces.