Health insurer WellCare's quarterly profit jumps 78 pct
May 3 U.S. health insurer WellCare Health Plans Inc reported a 78 percent surge in quarterly profit, driven by higher enrolments in its Medicaid plans for low-income families.
The company's net income jumped to $67.3 million, or $1.50 per share, in the first quarter ended March 31, from $37.8 million, or 85 cents per share, a year earlier.
WellCare, which focuses on government-backed health plans, said revenue rose to $3.92 billion from $3.45 billion. (Reporting by Divya Grover in Bengaluru; Editing by Savio D'Souza)