Feb 16 2010
WellPoint, Inc. (NYSE: WLP) today cancelled its Investor Day previously scheduled for February 23, 2010, and announced that management will review the Company's 2010 financial outlook during a conference call on March 17, 2010, at 8:30 a.m. Eastern Daylight Time (EDT). The Company continues to expect full year 2010 net income to be at least $6.00 per share, subject to its ability to secure and maintain sufficient premium rates. The Company will provide additional details about its 2010 outlook during the call on March 17, 2010.
The United States House of Representatives Energy & Commerce Subcommittee on Oversight and Investigations has requested information from the Company concerning premium rate increases in the individual health insurance market, and has requested that a senior officer of the Company appear before the subcommittee on February 24, 2010. The Investor Day program was cancelled in order to allow the Company to prepare appropriately for the hearing. The Company is confident that its rates were established consistent with actuarial principles and state law, and welcomes the opportunity to discuss the underlying rise in health costs and actuarial dynamics which resulted in the need to increase individual health insurance rates.
SOURCE WellPoint, Inc.
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