Maximus Inc. facts for kids
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| Public | |
| Traded as | NYSE: MMS S&P 400 component |
| Industry | Healthcare, business services Government contractor |
| Founded | 1975 |
| Headquarters | Tysons, Virginia |
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Areas served
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Australia, Canada, Saudi Arabia, South Korea, United Arab Emirates, United Kingdom, United States |
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Key people
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| Revenue |  $4.9 billion (2023) |
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Number of employees
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39,600 (2023) |
Maximus Inc. is an American company that helps governments. It works with government agencies around the world. These include places like the United States, Australia, Canada, and the United Kingdom.
Maximus helps manage and run government programs. These programs include Medicaid and Medicare, which are health programs. They also help with welfare-to-work programs and student loan services. The company is based in Tysons, Virginia. It has about 39,600 employees. In 2023, it made about $4.9 billion.
Contents
How Maximus Started and Grew
Maximus began in 1975. David V. Mastran started it as a company that gave advice to the government. At first, they helped with things like information technology.
Over time, Maximus grew as government rules changed. In the 1980s and 1990s, governments started working more with private companies. They needed help running their programs.
In 1988, Maximus got its first big contract. It was to help with social welfare programs in Los Angeles County. This made the company focus more on helping states with their services.
New laws in the 1990s, like the Personal Responsibility and Work Opportunity Act, changed how social programs worked. This meant governments needed even more help from companies like Maximus.
In 1997, Maximus became a public company. This means its shares can be bought and sold on the New York Stock Exchange. Its stock symbol is MMS.
More changes in government programs, like the Patient Protection and Affordable Care Act in 2010, also led to more work for Maximus. They helped with health programs like the ACA, Medicaid, and Medicare.
From 2010 to 2013, Maximus bought other companies. This helped them offer more services to governments. They expanded their work in the US and also in the UK. In 2015, they bought Acentia to grow their technology business.
In 2018, Bruce Caswell became the new CEO. He wanted Maximus to focus on using technology to improve customer service for governments. In November 2018, Maximus bought parts of another company. This helped them with services for citizens.
In 2020, Maximus hired Dr. Arvenita Washington Cherry. She joined to help make the company's workforce more diverse and welcoming.
In 2021, Maximus took over managing student loans for the U.S. Department of Education. This helped about 5.6 million student loan borrowers. Maximus created a new group called Aidvantage for this work.
Also in 2021, Maximus bought two more companies, Attain and Veterans Evaluation Services. This helped them offer even more services.
In 2022, Maximus moved its main office to Tysons, Virginia. The new office was designed with modern ideas for workspaces. In 2022 and 2023, some Maximus employees spoke out for better pay and working conditions.
What Maximus Does
Maximus helps governments in several important ways. They work on health programs, human services, and updating technology.
Health Programs
Maximus helps run many government health programs. These include Medicaid, the Children's Health Insurance Program (CHIP), and Medicare. They also help with health insurance exchanges from the Affordable Care Act.
Maximus is a big helper for Medicaid and CHIP in the United States. They serve more than half of this market. For example, in 2012, they helped Illinois and Oklahoma with their Medicaid programs.
The company also helps with health insurance appeals for Medicare. This means they help people who want to challenge decisions about their Medicare coverage.
Maximus also helps states set up health insurance marketplaces. In 2012, they helped Minnesota create its new health insurance exchange. In 2013, they helped Connecticut run its customer service for its health exchange.
In the UK, Maximus won a contract in 2014. They help decide if people with disabilities can return to work.
Human Services
Maximus runs many human services programs. These include welfare-to-work programs like Ticket to Work. They also help with child support, child care, and child welfare.
In 2011, Maximus was recognized for its welfare-to-work services in the United Kingdom. They helped many people find long-term jobs. They continue to work on similar programs in the UK.
In 2012, Maximus started a welfare-to-work program in Canada. They also expanded their work in Australia. There, they help people with disabilities find jobs.
Maximus also helps with child support programs. In 2009, they got a contract to help collect child support in Shelby County, Tennessee. They even started a program called Project NOW. This program helped almost 100 parents get back on track with their child support payments.
Updating Technology
Maximus also helps government agencies update their technology. They help them use newer systems and move to cloud-based platforms.
For example, they work with the Securities and Exchange Commission (SEC). They help modernize a system that stores company information. They also work with the Internal Revenue Service (IRS). They help improve the IRS's technology and cloud support.
Student Loan Services
Maximus AidVantage helps manage student loans. They provide services for about 13 million student loan borrowers.
Awards and Recognitions
Maximus has received several awards for its work. In 2011, Gartner chose Maximus as the winner of its Business Process Management Program of the Year.
In 2015, The Washington Post named Maximus one of the Top Companies to work for in the Washington, D.C. area. Fortune Magazine also named Maximus to its World's Most Admired Companies list in 2017.
In 2020, Military Times honored Maximus as a Top Employer for veterans. Forbes also named Maximus to its 2021 list of America's Best Employers for Diversity.
Helping the Community
Maximus believes in giving back to the community. They do this through corporate giving and their own foundation.
Company Giving
In 2010, Maximus helped digitize records at Arlington National Cemetery. This helped organize information about graves.
In 2011, Maximus helped fund No Kid Hungry Texas. This program works to reduce childhood hunger.
Maximus also supported the National Hispanic Health Foundation. This foundation gives scholarships to health services students. They also supported the Urban League of Middle Tennessee in 2012.
The Maximus Foundation
The Maximus Foundation is a special non-profit organization. It gets money from Maximus employees and the company itself. The foundation helps programs that support people in need. It especially helps programs for children.
In 2009, the Maternity and Early Childhood Foundation got a grant from Maximus. This helped them improve their computer equipment. In 2011, EMQ FamiliesFirst, which helps children in crisis, also received a grant.
In 2012, the South Bronx Overall Economic Development Corporation (SoBRO) used a grant from the Maximus Foundation. They started a program to teach young people job skills through farming. That same year, the Maximus Foundation gave over $100,000 to non-profits in Washington D.C. that help children.
In 2015, the Foundation gave about $390,000 in grants. These went to 121 non-profit groups in 22 states.
The Maximus Foundation also helped with Nepal Earthquake Relief in 2013. In 2015, they gave school supplies to 2,000 children in Austin, Texas.
The Foundation also supported four high school students. These students developed a new technology called Atheia. It helps people with vision problems.
