Filed Under:Health Insurance, Individual Health

WellPoint close to completing exchange product design, pricing

Joseph Swedish (AP photo/WellPoint)
Joseph Swedish (AP photo/WellPoint)

Executives at WellPoint Inc. (NYSE:WLP) continue to believe that the Patient Protection and Affordable Care Act (PPACA) exchanges will bring the company new business.

Joseph Swedish, the health insurer's new chief executive officer, said today during a conference call with securities analysts that the company feels good about its preparations for the new, Web-based health insurance supermarkets, which are supposed to start signing up customers Oct. 1.

WellPoint is reporting $885 million in net income for the first quarter on $18 billion in revenue, compared with $857 million in net income on $15 billion in revenue for the first quarter of 2012.

The company ended the quarter providing or administering medical coverage for 36 million people, up 6.3 percent from the total recorded a year earlier.

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Nichole Morford

Nichole Morford
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