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June 03, 2015 4:50 PM ET

Healthcare Providers and Services

Company Overview of WellCare Health Plans, Inc.

Company Overview

WellCare Health Plans, Inc. provides managed care services for government-sponsored health care programs. It operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs for qualifying families who are not eligible for Medicaid, as well as managed long-term care programs for people with chronic illnesses or who have disabilities and need health and long-term care services. The Medicare Health Plans segment pro...

8725 Henderson Road

Renaissance One

Tampa, FL 33634

United States

Founded in 1985

6,700 Employees

Phone:

813-290-6200

Key Executives for WellCare Health Plans, Inc.

Chief Executive Officer, President and Director
Age: 55
Total Annual Compensation: $524.0K
Chief Financial Officer and Senior Vice President
Age: 45
Total Annual Compensation: $396.2K
Chief Legal & Administrative Officer, Senior Vice President, General Counsel and Secretary
Age: 46
Total Annual Compensation: $432.3K
Chief Medical Officer and Senior Vice President
Age: 53
Total Annual Compensation: $412.1K
Chief Human Resources Officer and Senior Vice President
Age: 53
Total Annual Compensation: $321.2K
Compensation as of Fiscal Year 2014.

WellCare Health Plans, Inc. Key Developments

WellCare Health Plans Presents at Jefferies 2015 Global Healthcare Conference, Jun-03-2015 10:00 AM

WellCare Health Plans Presents at Jefferies 2015 Global Healthcare Conference, Jun-03-2015 10:00 AM. Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: Andrew L. Asher, Chief Financial Officer and Senior Vice President.

Florida Healthy Kids Corporation Selects WellCare Health Plans, Inc.'s Staywell Health Plan

WellCare Health Plans, Inc. announced that its Staywell Health Plan has been selected by the Florida Healthy Kids Corporation (FHKC) to continue to provide managed care services for children 5-18 years of age, as part of the Florida Healthy Kids (FHK) program. Pending execution, the two-year contract will begin on Oct. 1, 2015, and may be extended for two additional years at FHKC's discretion. Staywell will have an opportunity to serve children in the FHK program who live in Regions 1, 2, 3, 4, 5, 8, 9, 10 and 11. These regions include the Pensacola, Tallahassee, Gainesville, Jacksonville, Fort Lauderdale, Fort Myers and Miami metropolitan areas.

WellCare Health Plans, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

WellCare Health Plans, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $3,469.9 million compared to $2,985.7 million a year ago. Income from operations was $54.4 million compared to $37.3 million a year ago. Income before income taxes was $54.4 million compared to $65.6 million a year ago. Net income was $17.5 million or $0.39 per diluted share compared to $44.1 million or $1.00 per diluted share a year ago. Net cash used in operating activities was $99.9 million compared to $13.9 million a year ago. Additions to property, equipment and capitalized software, net were $35.8 million compared to $13.2 million a year ago. Premium revenue increased 15.6% compared with the first quarter of 2014 primarily as a result of membership growth in the company's Medicaid Health Plans segment. Adjusted net income for the first quarter of 2015 was $21.7 million, or $0.49 per diluted share, compared with adjusted net income of $49.7 million, or $1.13 per diluted share, for the first quarter of 2014. The decrease was due to the timing of certain Medicaid premium receipts. The company continues to expect adjusted earnings per diluted share in the range of $3.15 to $3.40 for the full-year 2015. Premium revenue expects to be $13.5 billion to $13.8 billion, depreciation and amortization expects to be $70 million to $72 million and interest expense expects to be $46 million to $48 million and effective income tax rate expects to be 61.0% to 63.0%.

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