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WellPoint Spends More on Care as Medicare Membership Grows

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WellPoint Inc., the largest health insurer by enrollment, said its costs to provide medical care jumped in the second quarter as the number of Medicare patients it serves grew. The shares fell the most in almost a year.

WellPoint raised its annual forecast for the second time this year after sales and enrollment increased, according to a statement today by the Indianapolis-based company. At the same time, an influx of sicker members aged 65 and older pushed the percent of income spent on care to 85.7 percent from 82.9 percent a year earlier, the company said.