Angela Braly, the chairman of WellPoint Inc., expects a weak economy to continue to nip at the company’s commercial health insurance plan enrollment in the coming months.
Braly talked about the possible effects of the soft economy on commercial plan enrollment today during the company’s third-quarter earnings call.
WellPoint, Indianapolis (NYSE:WLP), is reporting $683 million in net income for the third quarter on $15 billion in operating revenue, compared with $739 million in net income on $14 billion in operating revenue for the third quarter of 2010.
Total medical membership increased 2.6%, to 34 million, with self-funded enrollment growing 4.7% and fully insured enrollment shrinking 0.3%.
Commercial enrollment grew 2.4%, to 28 million.
Behavioral health program enrollment grew 6%, to 25 million.
Spending on efforts to sell coverage did not skyrocket, but it did creep up 0.6%, to $403 million.