WellPoint/Blue Cross 2nd carrier to release 3rd quarter numbers... last week United posted their 15 percent rise in profit...
NEW YORK (Reuters) Oct 24 - Health insurer WellPoint Inc said on Wednesday that third-quarter profit rose 7 percent, helped by higher membership and improved control of operating costs. The No. 1 U.S. health insurer by enrollment also projected its earnings per share will rise by at least 15 percent next year, when it sees adding at least 1 million members. Net income increased to $868 million, or $1.45 per share, from $810.8 million, or $1.29 per share, a year earlier.
WellPoint expects to receive rate increases in California and Connecticut, two states where Medicaid has dragged on the company's results this year. WellPoint is the largest U.S. provider of Medicaid plans.
In the past year, WellPoint has announced the departures of its chief executive and chief financial officer, as well as the head of its commercial and consumer unit.