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WellCare

Stockholders Back Merger Of Tampa-Based Wellcare, Centene

Jun 25, 2019

Stockholders of Tampa-based WellCare Health Plans, Inc., and Centene Corp. approved a proposed merger between two of the largest players in Florida’s Medicaid managed-care program, the companies said Monday. 

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Tampa-based WellCare Health Plans may soon merge with a St. Louis-based company to create one of the biggest insurers in the country.

But that means the loss of headquarters for one of the Tampa Bay area's top public companies.

Centene To Buy Tampa-Based WellCare For $15B

Mar 27, 2019

Centene is spending more than $15 billion on rival WellCare to dive deeper into government-funded health coverage in the same week that President Donald Trump's administration renewed its attack on the Affordable Care Act. 

State Reaches Deal On Medicaid Mental Health

Sep 6, 2018

Patients with serious mental illness may have an increased choice of health-care providers under an agreement between the state and one of the largest Medicaid mental-health plans.

Tampa-Based Wellcare Finishes $2.5 Billion Deal For Meridian Plans

Sep 5, 2018

Tampa-based WellCare Health Plans has completed a $2.5 billion deal to buy health plans that will expand its business in the Midwest and a firm that is a pharmacy-benefit manager, WellCare said Tuesday.

A managed-care plan owned by the North Broward and South Broward hospital districts is fighting a state decision to eliminate it from providing Medicaid services to some of Florida’s sickest children. 

WellCare Tapped For CMS Contract

Jun 27, 2018

The state expects to turn over management of the care of medically fragile children to a subsidiary of WellCare Health Plans beginning in January. 

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A new study finds that health care spending is reduced by about 10 percent when patients using Medicare Advantage and Medicaid managed care plans  are connected to social services to help with things like housing, medical transportation, healthy food programs, and assistance with utility bills.

Wellcare To Buy Health Plans In $2.5 Billion Deal

May 30, 2018

Tampa-based WellCare Health Plans, a major player in Florida’s Medicaid market, announced a $2.5 billion deal Tuesday that includes buying managed-care plans with hundreds of thousands of Medicaid beneficiaries in Michigan and Illinois.

Deadline Looms For Medicaid Managed-Care Protests

Apr 26, 2018

Managed care organizations that want to challenge the award of upward of $90 billion in Medicaid contracts to nine health plans across the state have until late Friday afternoon to launch protests. 

The former general counsel for WellCare was sentenced to six months in federal prison for making a false statement to the Florida Medicaid Program.

In a 124-page ruling, a federal appeals court Thursday upheld the convictions of four former WellCare Health Plans executives in a case that stemmed from allegations of defrauding Florida's Medicaid program.

WellCare Health Plans has made an offer for the Medicare Advantage insurance plans that Aetna plans to shed, according to Reuters.

WellCare Profits Inch Up In Fourth Quarter

Feb 9, 2016

Tampa-based WellCare Health Plans, which covers about 900,000 Floridians in the Medicaid and Medicare programs, saw an uptick in net income during the fourth quarter of 2015, according to an earnings report released Tuesday.

Tampa-based WellCare Health Plans Inc. announced Monday it is terminating Senior Vice President and Chief Medical Officer Steven Goldberg, according to a document filed with the U.S. Securities and Exchange Commission. 

 

WellCare Gets Profit Boost In Second Quarter

Aug 6, 2015

Tampa-based WellCare Health Plans, a major player in Florida's Medicaid program, saw its net income jump in the year's second quarter, according to a U.S. Securities & Exchange Commission filing Wednesday.

The health insurer reported net income of $51.7 million, or $1.17 per diluted share, from April 1 to June 30, compared with a net loss of $7.5 million, or 17 cents per diluted share, during the same period in 2014.

WellCare Profits Drop, Blames the Flu

Feb 12, 2015

WellCare Health Plans, a major player in Florida's Medicaid system, saw lower profits during the fourth quarter of 2014 and pointed to the heavy flu season as a cause.

Medicare Advantage plans that draw a lot of their enrollment from the poor side of town say they're at a disadvantage on the government's five-star ratings scale, which commands respect and governs pay.

WellCare Health Plans' stock shot up 7 percent Wednesday after the release of a third-quarter earnings report that showed membership now exceeds 4 million. That's up from 2.8 million members at the same time a year ago, a jump of 43 percent.  

Tampa-based WellCare Health Plans, Inc. will lay off 57 employees over the next few months as it outsources its information technology to Ohio-based Accenture, the Tampa Bay Business Journal reports.

With the multi-billion-dollar, four-month enroll-a-thon for Florida’s Statewide Medicaid Managed Care program now complete, totals show WellCare Health Plans still on top. 

The Tampa company’s Staywell plan now has more than 600,000 Florida Medicaid members. That’s 23 percent of the state’s roughly 3.3 million residents with Medicaid coverage, according to calculations by Citigroup Global Markets’ analyst Carl McDonald.

Two major health care groups have named new Chief Operating Officers for their Florida operations.

Tampa-based WellCare Health Plans, Inc. has named Andrew “Drew” Asher as senior vice president, and anticipates he will become Chief Financial Officer in November.

Since 2013, Asher has been CFO of Aetna's Local and Regional Businesses, WellCare said in a statement. Prior to that, Asher also spent 15 years with Coventry Health Care, which was acquired by Aetna, serving as its senior vice president of corporate finance.

WellCare Health Plans Inc.'s acting president for Florida has been chosen as the official president of the company for the state. Gregg MacDonald, who has been acting president since April 4, has been WellCare's chief operating officer for Florida since May 2007, according to a news release.

The interim CEO of WellCare Health Plans says he’s trying to move past the company’s troubles and focus on expanding its Medicare, Medicaid and prescription drug business, the Tampa Bay Times reports.

Todd Farha, former CEO of WellCare Health Plans, drew a three-year sentence for Medicaid fraud Monday, far below the sentencing guidelines. The judge said Farha has already suffered the loss of his reputation and career and that he is unlikely to repeat his "mistake."

Other former WellCare executives also drew sentences lighter than the guidelines:   former CFO Paul Behrens, two years; William Kale, who led the subsidiary where the fraud took place, one year and one day; and Peter Clay, a former vice president, who received probation.

WellCare Health Plans is forecast to remain No. 1 in Florida Medicaid managed care enrollment next year after winning a challenge to  a state contracting decision affecting patients in northeast Florida.

According to a new report from the Wall Street firm Stifel, Nicolaus & Co., WellCare's enrollment at the completion of  the statewide Medicaid managed-care rollout will likely edge out that of Centene Corp., which does business in Florida as Sunshine State Health Plan.

Tampa-based WellCare Health Plans, Inc. has replaced chief executive officer Alec Cunningham with chairman David Gallitano. 

Tampa Tribune

One hundred people who used to work for WellCare Health Plans, Inc. in Tampa were laid off Thursday as part of a 3-percent workforce reduction, according to the company's corporate communications office.  

The Tampa-based insurer provides managed care services for Medicaid and Medicare health plans. It blames the layoffs on changing requirements for federal and state government  programs.

Tampa Bay Times

Just when it seemed the trial against four former WellCare Health Plans executives might never end, the jury on Monday returned a verdict that found each of them guilty on at least some of the charges, the Tampa Bay Times reports. 

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