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Insurer WellPoint’s 4Q profit drops 68 percent
San Francisco Chronicle

WellPoint’s fourth-quarter earnings tumbled 68 percent, as customers of the nation’s second largest health insurer raced to use their coverage last fall before it lapsed due to the health care overhaul.

The Indianapolis company said Wednesday that its medical expenses spiked 18 percent to $14.58 billion due in part to higher use of individual policies in advance of the overhaul’s coverage expansions, which unfolded this year.

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