MOH
Molina Healthcare, Inc.
Is MOH Halal?
Managed-care health insurer — the health-insurance model raises gharar and riba concerns, so most scholars treat it as doubtful or non-compliant.
What You Should Know
Molina Healthcare, Inc. provides managed-care health coverage through Medicaid, Medicare and Marketplace programs. Its March 31, 2026 Form 10-Q reports assets of $16,391 million, interest-bearing debt of $3,767 million, cash of $5,314 million, marketable debt securities of $3,937 million, receivables of $3,420 million and quarterly revenue of $10,796 million. Debt/assets is 22.98%, liquidity/assets is 56.44% and receivables-plus-cash/assets is 53.29%; the liquidity and receivables screens fail. Scholars differ on how government-program managed care should be treated, so the qualitative verdict remains doubtful rather than universal. Net investment income is $98 million (0.91% of revenue).
⚠️ Concerns
- •Liquidity/assets is 56.44% and receivables-plus-cash/assets is 53.29%, above examined limits
- •Scholars are split — some treat government-program managed care more leniently, others consider the model non-compliant
- •Net investment income is 0.91% of quarterly revenue; no fixed purification percentage is asserted
- •The verdict is judgment-dependent and should be read with the investor's school of thought
- •Re-screen before each purchase given insurance and investment exposure
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
3,767 / 16,391
9,251 / 16,391
8,734 / 16,391
98 / 10,796
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 56.44% and receivables-plus-cash/assets is 53.29%, above the examined FTSE limits.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 56.44% and receivables-plus-cash/assets is 53.29%, above the examined MSCI limits.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 56.44%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the asset-based financial screens fail.
Business-activity disclosure
Molina provides managed-care health coverage through Medicaid, Medicare and Marketplace programs. Scholars differ on how government-program managed care should be treated relative to conventional insurance.
Limitation: The filing does not isolate permissible government-program service economics from insurance and investment activities in a school-neutral way.
Purification
The filing discloses $98 million of net investment income (0.91% of revenue); treatment is disclosed for transparency, but the business classification and purification approach remain school-dependent.
Inputs, assumptions and primary sources
- Amounts are USD millions from Molina's March 31, 2026 Form 10-Q.
- Debt uses the reported long-term debt balance of $3,767 million; medical claims and operating liabilities are excluded.
- Cash is $5,314 million and marketable debt securities are $3,937 million; restricted cash of $107 million is excluded from cash.
- Receivables use the reported net current receivables balance of $3,420 million; risk-adjustment receivables are included in that reported line.
- Net investment income of $98 million is disclosed (0.91% of revenue), but managed-care insurance treatment is school- and contract-dependent.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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