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Life Health > Health Insurance

WellPoint Reports Higher 1st Quarter Net

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NU Online News Service, April 24, 5:56 p.m. – WellPoint Health Networks Inc., Thousand Oaks, Calif., is reporting $141 million in net income for the first quarter on $3.9 billion in revenue, up from $97 million in net income on $2.6 billion in revenue for the first quarter of 2001.

The latest results include figures for RightChoice Managed Care Inc., St. Louis, the parent company of Blue Cross and Blue Shield of Missouri. WellPoint acquired RightChoice Jan. 31.

Although the RightChoice deal was responsible for much of the company’s growth, the large group unit in California and the major medical operations in Texas and Georgia also achieved enrollment gains of more than 5%, WellPoint says.

WellPoint now provides major medical insurance for 7.7 million people, up 21% from a year ago, and it administers coverage for another 5.3 million people, up 43%.

The company averaged $480 in premium revenue per insured major medical member, up 24%.


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