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WellChoice Reports Lower 2nd Quarter Net Income

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NU Online News Service, July 25, 2003, 4:25 p.m. EDT – WellChoice Inc., New York, is reporting $49 million in net income for the second quarter on $1.4 billion in revenue, compared with $60 million in net income on $1.3 billion in revenue for the second quarter of 2002.

WellChoice is the parent company of Empire Blue Cross and Blue Shield.

The managed care company ended the quarter providing or administering medical insurance for 4.8 million people, up from 4.6 million people a year earlier.

Average commercial managed care revenue per insured commercial managed care member increased 11% from the second quarter of 2002, to $432.