Long Beach, Calif.-based Molina Healthcare suffered heavy losses during the fourth quarter, with the company's CEO saying the ACA is the primary reason for the drop, CNBC reports.
Here are four highlights:
1. The company had a net loss totaling $91 million in Q4.
2. In 2015, Molina reported a profit of $30 million during Q4.
3. Following Q4's results, the company's shares fell 13 percent.
4. Molina CEO J. Mario Molina said in a statement, "Today's results highlight the continuing challenges we face in the ACA marketplace. We continue to advocate for measures that the federal government can take to level the marketplace playing field for insurers, like Molina."