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WellPoint 4Q profit drops, still tops expectations
San Francisco Chronicle

WellPoint Inc. posted a drop in fourth-quarter net income compared to a year ago, when it had a big gain from a subsidiary sale, but a decline in health-care use helped the insurer top analyst expectations.

The Indianapolis company said Wednesday that medical claims, its largest expense, fell 5 percent to $11.35 billion in the final quarter of 2010. The insurer also recorded a gain of more than $100 million because claims for the quarter and 2010 came in lower than expected.