As the nation's largest health insurer,WellPoint is anxious to get certainty about health care reform and economic recovery.It does appear that we've hit the floor at this point,according to Chief Financial Officer Wayne S. DeVeydt,and we might see improvement in the next quarter.The 14% increase in WellPoint's premiums in California is not sustainable,however.They've got to get the care costs down.The key is avoiding duplicate procedures.
The health care reform law is weighing on WellPoint's stock.They have to get better clarity about it soon.Nonetheless,the firm's net headcount isn't dropping.It employs about 42,000 Associates.
Based in Indianapolis,WellPoint operates as a licensee of the Blue Cross and Blue Shield Association in 14 states,with 33.5 million members.It has been honored by Fortune magazine as a Most Admired Company in its field for 2007,and has also received a workplace diversity award.Its earnings per share were up for Q2,and it raised its full year guidance as well.WellPoint buys back billions of dollars worth of shares to support its stock.Angela F. Braly is President,Chair and CEO of the insurer.
WellPoint(WLP)
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