About Those WellPoint Profits . . .

[somarco]

ABC News sits down with WellPoint CEO Angela Braly. The questions are direct and so are the answers.

I doubt anyone in Washington really cares. They have an agenda and their ego is at stake.

Q: How does WellPoint make its money?

A: The Indianapolis insurer made about $4.7 billion in 2009, a total stoked by the $2.2 billion it received from the sale of a pharmacy benefits management subsidiary.

Outside that, WellPoint made most of its money through employer-sponsored group health insurance. It reported $2.4 billion in operating profit from that segment last year, which amounts to about 58 percent of its total earnings.

The insurer has said it gets only about 10 percent of its operating income from individual health insurance like the kind it sells in California.

 

[AllenChicago]

Tuesday, August 12, 2014

Just a FYI.. The "Wellpoint" name will soon be history. They're changing the company name to "Anthem".

"The new change reverses a decision made before Anthem Inc. merged with WellPoint Health Networks Inc. in 2004. The combined company took the WellPoint name. Both insurers had been stitched together from a series of state-based Blue Cross and Blue Shield plans, each with its own identity. Over the years, WellPoint expanded the Anthem brand to more of its 14 Blue-plan states, including its largest, California, where it owns Anthem Blue Cross. A few states have kept legacy names, like Empire BlueCross BlueShield in New York."

Story: WellPoint Changes Its Name to Anthem - WSJ

ac

 

[Quotebroker]

ABC News sits down with WellPoint CEO Angela Braly. The questions are direct and so are the answers.

I doubt anyone in Washington really cares. They have an agenda and their ego is at stake.

Link seems to be down

 

[kgmom219]

ABC News sits down with WellPoint CEO Angela Braly. The questions are direct and so are the answers.

I doubt anyone in Washington really cares. They have an agenda and their ego is at stake.

I'm not getting into the right or wrong, but the 10% number doesn't surprise me at all. Prior to ACA, I would assume 90% of covered Americans received their coverage via an employer sponsored plan. So why would DC care? Does Wellpoint state that they make less money on an individual than an employee in a group plan?

 

[somarco]

Link seems to be down

Article link from 2010 is broken? Imagine my surprise.

 

[Quotebroker]

Article link from 2010 is broken? Imagine my surprise.

Didn't even look at the date on the OP. I'm even more surprised.

 

[Yagents]

Its just Allen proving the search button works

 

[somarco]

Its just Allen proving the search button works

 

[AllenChicago]

I had to search really hard too. There were not many "Wellpoint" threads to choose from! No way I'd start a new thread just to point out that a company changed it's name.

 

[somarco]

No way I'd start a new thread just to point out that a company changed it's name.

And we really appreciate that extra effort.