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Health insurer WellCare's quarterly profit surges
February 7, 2017 / 11:26 AM / 10 months ago

Health insurer WellCare's quarterly profit surges

Feb 7 (Reuters) - WellCare Health Plans Inc’s fourth-quarter profit more than tripled, driven by a rise in enrolments in its Medicaid plans for low-income families.

The U.S. health insurer’s net income rose to $44.9 million, or $1 per share, in the three months ended Dec. 31, from $13.0 million, or 29 cents per share, a year earlier.

WellCare, which focuses on government-backed health plans, said revenue rose to $3.52 billion from $3.50 billion. (Reporting by Divya Grover in Bengaluru; Editing by Saumyadeb Chakrabarty)

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