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WellCare Profits Inch Up In Fourth Quarter


WellCare Profits Inch Up In Fourth Quarter

Tampa-based WellCare Health Plans, which covers about 900,000 Floridians in the Medicaid and Medicare programs, saw an uptick in net income during the fourth quarter of 2015, according to an earnings report released Tuesday.

WellCare had fourth-quarter net income of $13 million, or 29 cents a diluted share, up from $7.7 million, or 18 cents a diluted share, during the same period in 2014. On an adjusted basis, net income during the fourth quarter of 2015 totaled $26.9 million, or 60 cents a diluted share, compared with $18 million, or 41 cents a diluted share, in 2014.

Net income for all of 2015 totaled $118.6 million, or $2.67 a diluted share. On an adjusted basis, net income for the year was $152.7 million, or $3.44 per diluted share.

WellCare is a major player in Florida’s Medicaid managed-care system.

As of Dec. 31, it included 781,000 Florida Medicaid beneficiaries, up from 722,000 a year earlier. Its Medicare Advantage plans also included 107,000 people in Florida, the release said.

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