WellPoint Links Dip in Profits to Calif. Medicare Enrollees
WellPoint recently released a financial report showing that the health insurer's profit dropped by 3% in the second quarter of 2011, partly because of higher-than expected medical costs among Northern California seniors. WellPoint said it earned $701.6 million during Q2 2011, down from $722.4 million during the same period last year. The company noted that it experienced an 8.5% increase in medical claims during Q2 2011, driven largely by Northern California policyholders with Medicare Advantage plans.
- "WellPoint Reports 3% Profit Decrease" (Helfand, Los Angeles Times, 7/28).
- "Medicare Weighs on WellPoint, Other Insurers Down" (Krauskopf, Reuters, 7/27).