As of December 31, 2011, unregulated cash and investments were approximately $309 million. Unregulated cash and investments were approximately $324 million as of September 30, 2011, and $193 million as of December 31, 2010.

Days in claims payable were 55 days as of December 31, 2011, compared with 58 days as of September 30, 2011, and 62 days as of December 31, 2010.

Financial Outlook

The Company is providing its financial outlook for the year ended December 31, 2012:
  • Adjusted net income per diluted share is expected to be between approximately $4.40 and $4.60.
  • Premium revenue is expected to be between approximately $6.95 and $7.05 billion.
  • The 2012 Medicaid, Medicare Advantage, and PDP segments' MBRs each are anticipated to increase relative to the respective 2011 segment MBRs.
  • The adjusted administrative expense ratio is expected to be in the range of 10.4% to 10.6%.

All elements of the Company’s outlook exclude the impact of Medicaid premium taxes.

Webcast

A discussion of WellCare’s fourth quarter and year 2011 results will be webcast live on Wednesday, February 15, 2012, beginning at 8:30 a.m. Eastern Time. A replay will be available beginning approximately one hour following the conclusion of the live broadcast and will be available for 30 days. The webcast is available via the Company’s web site at www.wellcare.com and at www.earnings.com.

About WellCare Health Plans, Inc.

WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans. The Company served approximately 2.6 million members nationwide as of December 31, 2011. For more information about WellCare, please visit the Company’s website at www.wellcare.com.

Basis of Presentation

In addition to results determined under GAAP, net income and certain other operating results described in this news release are reported after adjustment for certain SG&A and interest expenses related to previously disclosed government investigations and related litigation and associated resolution costs that management believes are not indicative of long-term business operations. Please refer to the schedules in this news release that provide supplemental information reconciling results determined under GAAP to adjusted results.

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