WellPoint

WellPoint boosts third-quarter profit, raises forecast

November 3, 2010
J.K. Wall
The Indianapolis-based health insurer raised its full-year profit forecast by 20 cents per share, after lower-than-expected claims and lower administrative costs increased third-quarter profit by 1 percent.
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State sues WellPoint over data breach

October 30, 2010
Associated Press
The lawsuit filed Friday in Marion County accuses Indianapolis-based WellPoint of violating a state law that requires businesses to provide notification of data breaches in a timely manner.
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After disagreement, Lewis leaves WellPoint with $3.2M

October 27, 2010
J.K. Wall
Dijuana Lewis will get nearly $3.2 million on her way out the door at WellPoint Inc. after what sources described as a dispute with CEO Angela Braly over a change in duties.
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WellPoint dismisses highly paid subsidiary CEO

October 25, 2010
Associated Press
Last year, Dijuana Lewis earned a $650,000 salary as one of the insurer's highest paid executives and received a $200,000 bonus in part for helping to lead the sale of the NextRx subsidiary to Express Scripts Inc. for about $4.68 billion.
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WellPoint, Aetna led U.S. insurers in coverage denial

October 13, 2010
Bloomberg News
Until all consumers are required to buy health insurance, coverage restrictions are needed to keep people from gaming the system, insurers say.
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WellPoint, other insurers' stock buybacks concern investors

October 12, 2010
Bloomberg News
Indianapolis-based WellPoint Inc. and competing U.S. health insurers approved $10 billion in stock repurchases in the past year, a concern to investors who say buybacks failed to increase share prices and who want more spent on dividends.
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Insurers cautious on accountable care

October 6, 2010
J.K. Wall
Health insurers, including locally based WellPoint Inc. and Advantage Health Solutions, have been looking to work with health care providers to form accountable-care organizations. But they also worry that the accountable-care concept will become nothing more than a negotiating tactic by hospitals and doctors.
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Rules mostly falling WellPoint's way

September 29, 2010
J.K. Wall
Health insurers won fairly broad leeway under key rules suggested by state insurance commissioners that will govern what kinds of expenses count toward meeting a new federal threshold to spend at least 80 percent of premiums dollars on medical care.
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Health overhaul's $264M question weighs down WellPoint

September 22, 2010
Bloomberg News
The failure by state regulators to decide how much insurers must spend on patient care is scaring investors from health-plan stocks and complicating insurance company decisions.
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WellPoint gets $87M Medicare contract renewal

September 21, 2010
Associated Press
The company said the Centers for Medicare & Medicaid Services renewed its durable medical equipment administrative contract for a region that covers Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio and Wisconsin.
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Barron's: Brighter days ahead for WellPoint

September 8, 2010
J.K. Wall
It’s been a tough year for major health insurers, but Barron’s magazine predicts a big comeback for Indianapolis-based WellPoint Inc. and its rival UnitedHealth Group.
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Health insurer cash shifts to favor Republicans before election

August 27, 2010
Bloomberg News
Health insurers led by WellPoint Inc. are backing Republicans with campaign donations by an 8-to-1 margin, favoring the party that's promised to repeal President Barack Obama's health-care overhaul if it wins back Congress.
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California OKs Anthem rate hike after controversy

August 25, 2010
Associated Press
The California Department of Insurance said Wednesday it approved a rate increase averaging about 14 percent for Anthem Blue Cross customers. The department also OK'd a nearly 19-percent increase for Blue Shield of California.
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WellPoint boosts debt offering to $1 billion

August 9, 2010
Bloomberg News
Proceeds from the sale will be used for working capital and general corporate purposes, including debt repayment, the company said in a prospectus.
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WellPoint, peers focus on health reform rules, campaign

August 3, 2010
Bloomberg News
WellPoint Inc., UnitedHealth Group Inc. and three other health insurers, criticized by Democrats during the health care reform debate, are seeking to influence how the new law will be implemented, and possibly change it, by campaigning for supportive congressional candidates.
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Investors fear insurers' rosy outlook will boost regulators' scrutiny

July 29, 2010
Bloomberg News
Indianapolis-based WellPoint Inc. became the third U.S. health insurer this month to increase its 2010 profit forecast, stirring investor concern that state and federal regulators may increase scrutiny of industry pricing.
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WellPoint gains confidence as profits rise

July 28, 2010
J.K. Wall
The Indianapolis-based health insurer raised its full-year profit forecast after it earned $722.4 million, 4 percent higher than during the same quarter a year ago. Revenue and health plan membership fell.
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PROXY CORNER: WellPoint Inc.

July 24, 2010
 IBJ Staff
WellPoint Inc. is one of the nation's largest health insurance companies and sells its products primarily under the Blue Cross Blue Shield brand name.
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Health care reform means changes for Indiana employersRestricted Content

July 17, 2010
Norm Heikens, Scott Olson, J.K. Wall
Nearly four months after President Barack Obama signed a health reform bill into law, businesses are still grappling with its impact on the health benefits they offer their employees.
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WellPoint strikes up chat on health reform

July 14, 2010
J.K. Wall

WellPoint Inc. is turning from opponent of the health care reform law passed in March to “trusted adviser.” It launched a website, healthychat.com, where company representatives answer customers’ questions about the new health reform law.

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Health reform rule could cost WellPoint

July 7, 2010
J.K. Wall
WellPoint Inc. has about $800 million riding on one arcane rule: how to calculate a medical loss ratio. The ratio quantifies the percentage of customers’ premiums were spent on medical care, rather than overhead or profits.
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Connecticut to probe WellPoint security breach

July 2, 2010
Bloomberg News
Attorney general seeks more details on the breach, which may have compromised financial and health information on almost 500,000 people. He also calls on the Indianapolis-based insurer to provide affected customers with credit monitoring and theft protection services.
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IU, WellPoint make magazine's best tech workplace list

June 26, 2010
 IBJ Staff
Indiana University and WellPoint Inc. were the only Indiana employers to land in Computerworld magazine’s top 100 rankings as one of the “Best Places to Work in IT.”.
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WellPoint exec sees health insurer 'oligopoly' coming

June 24, 2010
Bloomberg News
U.S. health insurers are “moving towards an oligopoly,” a process that this year’s health-care overhaul will accelerate, the investor-relations chief at WellPoint Inc. said Thursday.
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Slow economy bruises profits of Indiana's largest public companiesRestricted Content

June 19, 2010
Marc D. Allan
One-time events influenced bottom lines of some of the few companies that made more money in 2009.
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

  4. GOOD DAY to you I am Mr Howell Henry, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest rate to reliable individuals. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact me via e-mail howellhenryloanfirm@gmail.com Yours Sincerely MR Howell Henry(MD)

  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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