WellCare profits up on Medicare business

By Mike Wells and Carol Gentry
5/5/2010 © Health News Florida

WellCare Health Plans Inc., which reported  handsome first-quarter earnings today, faces a paradox in its government contracts: It’s making too much money on its Medicare services — at least, too much to meet upcoming spending requirements — but not enough from Medicaid.

That’s what analyst Carl McDonald of Oppenheimer & Co. said in an advisory report issued today after WellCare released its first-quarter earnings report. The company said it netted $6.4 million, compared with a loss of $36.9 million for the same period last year.

Read the rest of the story here.


About Mike
Mike Wells is an award winning, independent journalist living in St. Louis, Mo. He is available for investigative projects, freelance reporting and media relations consulting.

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