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Florida Gov. Rick Scott's administration awarded new Medicaid contracts to insurers. Photo: Joe Raedle/Getty Images

Florida has awarded new five-year Medicaid contracts collectively worth more than $15 billion annually to a handful of health insurance companies, most of which already had contracts with the state.

The big picture: Florida runs one of the largest Medicaid programs in the country, making these contracts that start in 2019 extremely important to the insurers that get them as well as the 3.1 million low-income people who get care through the plans.

The winners: Incumbent insurers Humana, WellCare Health Plans and Centene gained hundreds of thousands of new Medicaid members. Gary Taylor of J.P. Morgan Securities estimates that translates into $1.3 billion in new revenue for Humana, $500 million in new revenue for WellCare and $264 million in new revenue for Centene.

  • Aetna, Anthem and UnitedHealth Group also retained contracts, although they didn't gain market share.

The losers: Magellan Health and Molina Healthcare, both of which had contracts with Florida, were completely shut out. Magellan already plans on appealing the state's decision. Wall Street investors hammered Magellan's stock, which fell 17% Wednesday, on the prospect of the company losing more than $600 million, or a third of its annual revenue.

Some context: Most health insurers have a 2% profit margin on these kinds of Medicaid contracts.

Go deeper

Updated 2 hours ago - Politics & Policy

Report: Pentagon watchdog finds Ronny Jackson drank on duty and harassed staff

Rep. Ronny Jackson walking through the Canon Tunnel to the U.S. Capitol in January. Photo: Stefani Reynolds/Getty Images

Rep. Ronny Jackson (R-Texas) allegedly made "sexual and denigrating" comments about a female staffer, drank alcohol and took sleeping medication while working as White House physician, according to a report obtained by CNN Tuesday night.

Driving the news: The Department of Defense inspector general's report stems from a years-long investigation. Jackson has called the allegations "false and fabricated."

DOJ pressed to enforce Al Jazeera foreign agent ruling

Illustration: Aïda Amer/Axios

The Justice Department is being pressed to enforce its own demand that the U.S. arm of Qatari broadcaster Al Jazeera register as a foreign agent.

Why it matters: The launch of Al Jazeera's new right-of-center U.S. media venture, Rightly, has refocused attention on the media company's alleged links to Doha, and DOJ's efforts to crack down on media outlets viewed as foreign interest mouthpieces.

Poll: Immigration is America's most-polarizing issue

Data: The American Aspirations Index/Populace; Chart: Will Chase/Axios

Immigration was found to be the most polarizing issue in America based on new polling from Populace.

Why it matters: Americans have surprisingly similar priorities for the U.S., but immigration stands out as one of the few issues with clear partisan differences. It underscores the challenge for advocates and lawmakers hoping to pass immigration reform in the coming weeks amid narrow margins in Congress.