WellCare—a Medicaid, Medicare Health Plan—Sees Profits Soar in 2016

Here are the numbers for 2015: net income, $118.6 million, or $2.67 a diluted share. For 2016: net income, $242.1 million, or $5.43 per diluted share. That equals the fact that WellCare Health Plans, with about 4 million Medicare and Medicaid beneficiaries, had a banner year in 2016, according to Health News Florida citing the company’s earnings report. The plan is headquartered in Tampa.  

“In 2016, the performance of all of our lines of business improved year over year,” WellCare’s CEO Kenneth A. Burdick said in a release. “We won two Medicaid contracts and announced four acquisitions—two of which closed in 2016. Our momentum is strong as we enter 2017.”

Source: Health News Florida