It was only a few years ago that this Tampa-based health company struggled amid Medicaid-fraud probes and shareholder lawsuits, which subsequently led to a management shake-up. The insurer began improving its bottom line during the second half of 2010 and continued to do so in 2011.
WellCare, which provides managed care plans for Medicare and Medicaid, reported strong earnings as membership rebounded after declining in 2010. This was largely driven by the growth in its Medicare prescription drug programs. Like other health insurers, WellCare also benefitted as Americans used fewer medical services, which in turn has helped drive down the portion of premiums used to cover medical costs.
