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Health insurer WellPoint Inc. said Wednesday it will reaffirm its annual earnings guidance of $6 per share when it meets
with investors and analysts.
Analysts polled by Thomson Reuters expect, on average, earnings of $6.20 per share for 2010 and Wellpoint said the forecast
depends on its ability to secure "sufficient premium rates."
The Indianapolis company said that its guidance includes no net investment gains or losses or asset charges beyond what was
recorded in the first quarter.
WellPoint, the largest health insurer based on enrollment, runs Blue Cross Blue Shield plans in 14 states and Unicare plans
in several others.
Wellpoint has stuck to the $6 forecast since January even after reporting that first-quarter net income jumped 51 percent,
easily topping Wall Street expectations.
Insurers are being criticized by the Obama administration for hiking individual insurance premiums even as they report strong
profits. Insurers say they have raised rates only to cover rising medical costs and because the slumping economy has cut into
its customer base.
WellPoint drew complaints because its California subsidiary, Anthem Blue Cross, planned to hike individual insurance premiums
by about 25 percent on average.
The insurer has since withdrawn those plans.
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