Wellpoint Inc. reports 4Q 7 percent profit increase

Wellpoint Inc. reported a 7 percent rise in its fourth-quarter profit.

Photo: Wellpoint Inc. reports 4Q 7 percent profit increase

Higher premium revenue helped offset a 10 percent rise in medical benefit costs.

The company said that its net income increased $859.1 million, or $1.51 per share, from $801.1 million, or $1.28 per share.

Revenue rose 7 percent to $15.56 billion from $14.58 billion a year ago, helped by a 7 percent rise in premiums.

WellPoint, Inc. is an independent licensee of the Blue Cross Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as Blue Cross Blue Shield in 10 New York City metropolitan counties and as Blue Cross, Blue Shield or Blue Cross Blue Shield in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through UniCare. In addition to Blue Cross, the company also operates under the Anthem name.