2004: $21/Share 2011: $80.79/Share
WellPoint, Inc. was formed in 2004 when WellPoint Health Networks Inc. and Anthem, Inc. merged to become the nation’s leading health benefits company.
WellPoint, Inc. is the largest health benefits company in terms of commercial membership in the United States. Through its networks nationwide, the company delivers a number of leading health benefit solutions through a broad portfolio of integrated health care plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, behavioral health benefit services, as well as long term care insurance and flexible spending accounts.
Headquartered in Indianapolis, Indiana, WellPoint, Inc. is an independent licensee of the Blue Cross and Blue Shield Association serving members in California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia and Wisconsin; and specialty plan members in other states through UniCare.
POLITICAL ACTION
WellPoint’s corporate political action committee, WellPAC, raised $1.3 million in 2010, and contributed nearly all of it to Federal and non-Federal candidates. Of the monies given to Federal candidates, 75 percent was given to Republicans, whose party opposes the health care reform act, and 25 percent was given to Democratic candidates. WellPoint Inc. spent an additional $1 million on lobbying activities in 2010, and 77 percent of that amount was given to Republicans, and 22 percent was given to Democrats
In July 2008, WellPoint subsidiary Anthem Blue Cross agreed to a settlement with the California Department of Managed Health Care. To resolve allegations of improper policy rescissions (cancellations), WellPoint paid $10 million and reinstated 1,770 policyholders whose plans they had cancelled. They also agreed to provide compensation for any medical debts incurred by the affected policyholders in the meantime. However, WellPoint did not officially admit liability.
In 2010, a report in Reuters alleged that the Anthem Blue Cross subsidiary improperly singled out women with breast cancer for cancellation of their policies shortly after they were diagnosed with breast cancer. The Reuters story said that WellPoint “using a computer algorithm, identified women recently diagnosed with breast cancer and then singled them out for cancellation of their policies.” The story not only caused considerable public outrage, but led Secretary of Health and Human Services Kathleen Sebelius and President Barack Obama to call on WellPoint to end the practice.
In 2007, WellPoint pledged to spend $30 million over three years, through the company’s charitable foundation, to help those who lack health coverage.
WellPoint’s Board of Directors is led by Chairman, President and CEO Angela Braly. In 2010 the company produced gross profits of 13,874,900 on revenue of 58,801,800.
Editor Phil Robertson is an award-wining journalist and graphic designer. With a degree from the University of Florida’s School of Journalism, his career in journalism and publishing spans over 30 years, and includes positions as editor and publisher for several newspapers and magazines. During his career he has received a first-place award for investigative journalism from the Society of Newspaper Editors, and five ADDY awards for advertising
design.
