WellCare’s political spending eyed

By Jim Saunders and Mike Wells
5/7/2010 © Health News Florida

A New York-based investor is pushing to require WellCare Health Plans — a major contributor to Florida politicians and parties — to disclose more information about how it spends company money on political activities.

Amalgamated Bank, through one of its investment funds, wants shareholders to approve a proposal next month that would require WellCare to provide semi-annual reports about money it spends on candidates, political parties and other types of organizations that try to influence campaigns, according to a proxy statement released last week.

“Disclosure is consistent with public policy and (is) in the best interest of our company and its shareholders,” the proposal says. “Absent a system of accountability, company assets can be used for policy objectives that may be inimical to the long-term interests of and may pose risks to the company and its shareholders.”

Read the rest of the story here.


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.

Nearly there

Over the last few weeks, I’ve tweaked this site’s design and increased its content. So far, the results satisfy me. This site is the starting point in my plan to make Wells Written a recognized brand.

My clips and resume are now available for download in Microsoft Word format. The next step is to upload some video and audio content, followed by samples of my photography.

I also plan to add links to my favorite news and writing websites to make WellsWritten.com useful to visitors.