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Home » Health Insurance, health companies

WellPoint

Submitted by admin on June 4, 2009 – 6:27 amNo Comment

wellpointWellPoint, Inc. is a large, U.S. based health insurance company and the largest member of the BlueCross BlueShield Association.

It was formed when WellPoint Health Networks, Inc. merged into Anthem, Inc., with the surviving Anthem adopting the name, WellPoint, Inc. and began trading its common stock under the WLP symbol on December 1, 2004. On April 13, 2009 it was announced that WellPoint had reached a definitive agreement under which St. Louis based Express Scripts will acquire WellPoint’s NextRx subsidiaries for $4.675 billion.
Express Scripts, the United States third largest PBM, is expected to officially close the transaction in the second quarter of 2009.
Founded Anthem Insurance and WellPoint Health Networks merger in 2004
Headquarters Indianapolis, Indiana, USA
Key people Angela Braly – President & CEO
Industry Health Care Plans
Products Blue Cross Blue Shield
Revenue ▲$56.953 billion USD (2006)
Operating income ▲$4.116 billion USD (2005)
Net income ▲$3.095 billion USD (2006)
Employees 42,000+
Website www.wellpoint.com
Company description
WellPoint is an independent licensee of the Blue Cross and Blue Shield Association and serves its 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 Blue Cross Blue Shield in 10 New York City metropolitan counties and as Blue Cross, Blue Shield or Blue Cross Blue Shield in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through UniCare. In addition to Blue Cross, the company also operates under the Anthem name.
California settlement
In July 2008, WellPoint subsidiary Anthem Blue Cross agreed to a settlement with the California Department of Managed Health Care. In order to resolve allegations of improper rescission (cancellation of policies due to claims), WellPoint paid $10 million and reinstated 1,770 policy-holders whose plans they had cancelled. They also agreed to provide compensation for any medical debts incurred by these policy-holders in the meantime. However, WellPoint did not officially admit liability.
Quality of care
In the California Healthcare Quality Report Card 2009 Edition, Anthem received 2 out of 4 stars in Meeting National Standards of Care and How Members Rate Their HMO

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