WellCare Health Plans To Restate Financial Results
In response to a Medicaid fraud investigation launched last fall, WellCare Health Plans has decided to restate more than three years of financial results. The company said it failed to return about $46.5 million in premiums to state programs providing health care to low-income residents in Florida and Illinois and underreported liabilities by about $46 million because of improper accounting of medical expenses.
- "WellCare To Restate Years of Results" (Francis, Wall Street Journal, 7/22).