News Headlines Article

WellPoint 4Q profit soars on NextRx unit sale
San Francisco Chronicle - Tom Murphy, AP Business Writer

Health insurer WellPoint Inc. said Wednesday its fourth-quarter profit soared on a one-time gain from the sale of its NextRx subsidiary, but enrollment and revenue took another recession-driven hit. The Indianapolis insurer said its total enrollment fell 3.9 percent to 33.7 million people compared to 2008, with small businesses delivering the most significant drop. Enrollment in WellPoint’s local group business — which is largely employer-sponsored insurance for small companies — sank 5.9 percent due mainly to rising unemployment.