MAXIMUS, INC.

Maximus was founded in 1975 by David V. Mastran, initially operating as a consulting firm for the federal government, including information technology services.

The history of Maximus follows the trajectory of significant government policy changes.

The government service reform policies in the '80s and early '90s which were enacted by the Reagan administration and continued in the Bush and Clinton administrations, led to the US government increasing private-sector contracting of administration program functions operated under the control of government. In 1988, Maximus was awarded its first contract for social welfare from Los Angeles County, and began shifting focus towards business process outsourcing and providing state-based consulting services.

Passage of the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) of 1996 under President Clinton granting states greater latitude in administering social welfare programs, and the Balanced Budget Act of 1997 amending certain eligibility, enrollment, and beneficiary protections in Medicaid further increased government use of public / private partnerships for the administration of certain program functions.

In 1997, the company went public, trading on the New York Stock Exchange under the symbol MMS.

The G.W. Bush Administration saw reauthorization and expansion of PRWORA, cementing the government's use of private sector contracting of administrative functions associated with Federally funded, state administered, entitlement programs.

In 2006, Richard Montoni, former chief financial officer for Maximus, was named CEO. From 2008 to 2010, Maximus engaged in a number of divestitures that included its Security Solutions, Justice Solutions, Education Systems, Asset Solutions and Enterprise resource planning (ERP) divisions, focusing the firm on providing health and human services core program solutions.

Passage in 2010 of the Patient Protection and Affordable Care Act (ACA) during the Obama Administration further expanded the use of private sector contracting of government administrative functions associated with the ACA, Medicaid, and Medicare, in conjunction with other human services related programs.

From 2010 to 2013, Maximus acquired Denver-based Policy Studies Incorporated (PSI) to increase its capacity to serve government clients in the US and expanded into clinical assessment services with the acquisition of Ascend. From a global perspective, Maximus acquired UK based Health Management Ltd. On April 6, 2015, the company completed the $300 million acquisition of Falls-Church-based technology contractor, Acentia, expanding the Maximus federal technology business.

In 2018, after twelve years as CEO, Richard Montoni announced his retirement and the company appointed President Bruce Caswell to the position of chief executive officer. Caswell articulated a strategic plan focusing the company's activities on helping governments advance digitally-enabled customer service, modernizing technology capabilities and expansion of clinical services delivery. In November 2018, Maximus acquired U.S. Federal citizen engagement center assets from another government contractor (GDIT) for $400 million in cash.

In September 2020, Maximus hired Dr. Arvenita Washington Cherry as Senior Director of DE&I to lead diversity and inclusion activities in its workforce.

In 2021, Maximus completed three additional transactions. Maximus and Navient announced the two companies signed a definitive agreement to transfer the loan servicing for 5.6 million U.S. Department of Education-owned student loan accounts through a contract novation, creating a new operating entity, Aidvantage. Maximus acquired Attain, a technology integration company, and Veterans Evaluation Services (VES), a clinical assessments company. In January 2025, the Department of Veterans Affairs re-awarded VES, a Maximus company, contracts through 2026 for domestic regions 1 – 4 which collectively span the continental U.S. to continue providing medical disability exams services through the Veterans Benefit Administration.

In May 2022, Maximus relocated its headquarters to Tysons, Virginia in new office space that was reported to incorporate "many of the post-pandemic office designs that architects and companies are emphasizing."

In September 2022, after a 3-year long competitive procurement process, the Centers for Medicare & Medicaid Services (CMS) awarded Maximus a 10 year contract that extended its existing role as lead operator of citizen contact centers, including 1-800-MEDICARE. In December 2023, US Department of Health and Human Services Secretary Xavier Becerra announced it would be recompeting this contract for the express purpose of inserting a labor harmony agreement. In November 2024, CMS decided to halt efforts to rebid its contract with Maximus. Some observers, including 17 state attorneys general, noted that there was little precedent for ending an ongoing contract and introducing new labor harmony provisions. Sen. Bill Cassidy, the incoming chairman of the Senate Health, Education, Labor, and Pensions Committee, stated, 'The Maximus contract should never have ended in the first place,' and expressed concerns that the administration's actions were aimed at promoting unionization among call-center employees.