WellPoint Reports Full Year 2012 Results
|January 25, 2013 12:20 AM
WellPoint Inc. (NYSE: WLP) reported total operating revenue of $15.27 billion for its fiscal year 2012, a 1.4 percent increase compared to the prior year’s total of $15.18 billion. For fiscal 2012, net income edged up 0.3 percent to $2.66 billion.
John Cannon, interim president and CEO, said, "Our fourth quarter results were stronger than originally expected, reflecting improved operating performance, solid expense management and improving execution in our core operations. We are encouraged by this strong performance, and believe it positions us well for a solid 2013. We are optimistic about our company's long-term positioning and believe the alignment of our core businesses, leadership and 2013 investments prepare us well for the emerging opportunities in health care."
The company said its medical enrollment exceeded 36 million members as of Dec. 31, 2012. The acquisition of Amerigroup added nearly 2.7 million State Sponsored members during the fourth quarter of 2012. Membership also grew by 74,000 in the senior business, primarily due to the company's geographic expansion into new Medicare Advantage service areas during 2012.
WellPoint serves more than 36 million people in its affiliated health plans, and nearly 67 million people served through its subsidiaries. As an independent licensee of the Blue Cross and Blue Shield Association, WellPoint serves members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin.
In a majority of these service areas, WellPoint's plans do business as Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Blue Cross and Blue Shield of Georgia and Empire Blue Cross Blue Shield, or Empire Blue Cross (in the New York service areas). WellPoint also serves customers throughout the country as UniCare and in certain markets through its Amerigroup and CareMore subsidiaries. Its
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