Another Sign ObamaCare Works: Wellpoint Boosts Profit Forecast
Wellpoint WLP +0.06% Inc. (WLP), one of the nation’s largest health insurance companies, raised its full-year earnings forecast, citing more than 1 million new health plan members related in part to new business from the Affordable Care Act.
When a company raises its earnings forecast, that means it will make more money than it originally thought. In Wellpoint’s case, the company raised its 2014 “earnings outlook from greater than $8.00 per share to greater than $8.20 per share,” company chief executive officer Joseph Swedish said this morning. Swedish cited “growth of 1 to 1.3 million net new medical members and mid-single digit percent increases in both operating revenue and operating gain.”
Wellpoint specifically cited its ability to successfully manage new business coming from Americans signing up for coverage via the state and federal marketplaces known as exchanges.
http://www.forbes.com/sites/brucejapsen/2014/03/21/another-sign-obamacare-works-wellpoint-boosts-profit-forecast/
- 86 47 -
| 
