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WellPoint Reports Fourth Quarter and Full Year 2007 Results
Date:1/23/2008

is currently in the process of exiting the Ohio CFC Medicaid program due to the inability to obtain fiscally-sound rates. The Connecticut Medicaid contract converted to a self- funded arrangement during the fourth quarter of 2007. The Company incurred operating losses in both of these programs during 2007.

The full year 2007 benefit expense ratio was 82.4 percent, an increase of 120 basis points from 81.2 percent in 2006. Approximately 80 basis points of the increase was driven by the medical business of the Specialty, Senior and State Sponsored Business reporting segment. The remaining increase was attributed to the CCB segment and included the impact of business mix shifts, including a decline in Individual membership, and less favorable than expected reserve development in 2007.

The Company remains confident with its full year 2008 benefit expense ratio estimate of 81.6 percent, given the strong full year 2007 operating results in its CCB segment, its outlook for stable medical cost trends in 2008 and the expected improvements in its State Sponsored operations.

Premium and Cost Trends: Trends include Local Group and Individual fully- insured businesses.

Medical cost trends were below 8.0 percent in 2007, with the primary driver being unit cost increases. The Company continues to expect that medical cost trends will remain below 8.0 percent in 2008, and continues to price its business so that expected premium yield exceeds total cost trend, where total cost trend includes medical costs and selling, general and administrative ("SG&A") expense.

SG&A Expense Ratio: The SG&A expense ratio was 13.8 percent in the fourth quarter of 2007, a decrease of 190 basis points from 15.7 percent in the fourth quarter of 2006. For the full year of 2007, the SG&A expense ratio was 14.5 percent, a decline of 120 basis points from 15.7 percent in 2006. The ratio improved year-over-year due to a continued focus on optimizing administrative costs and
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SOURCE WellPoint, Inc.
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