WellCare gets profit boost from Medicare enrollees

Tampa, Fla.-based insurer WellCare reported better-than-expected financial results for the first quarter of 2016, aided by a 1.2 percent increase in Medicaid enrollments, reports Reuters.

Below are three things to know about WellCare's most recent financials.  

1. WellCare reported an improved medical benefits ratio in its Medicaid and Medicare businesses. MBR is based on the amount WellCare spent on members' medical care out of the total amount it collected in premiums.

2. WellCare's net income for the quarter was $37.1 million, up from $17.5 million in the first quarter of 2015.

3. First-quarter revenue rose about 2 percent to $3.54 billion, slightly ahead of analysts' previous estimates of $3.50 billion.

 

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