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WellPoint Reports Second Quarter 2009 Results
Date:7/29/2009

on for the full year of 2009 and earnings per share to be in the range of $5.06 - $5.12, including net investment losses of $0.54 per share."

CONSOLIDATED HIGHLIGHTS

Membership: Medical enrollment totaled 34.2 million members at June 30, 2009, a decrease of 1.1 million members, or 3.0 percent, from 35.3 million at June 30, 2008. The decline in membership was most significant in the Local Group business, which experienced a 734,000-member reduction from the prior year quarter, primarily due to in-group enrollment losses caused by the rise in unemployment. Enrollment in State Sponsored business declined by 300,000 members, as the Company withdrew from certain programs for which actuarially-sound reimbursement could not be obtained. Membership declines were also experienced in the Individual and Senior businesses. These enrollment declines were partially offset by growth of more than 200,000 members in the National business.

Medical membership declined by 338,000, or 1.0 percent, in the second quarter of 2009. The decline in membership occurred almost entirely in the Commercial segment, reflecting continued employer workforce reductions. The Company experienced net negative in-group change of 254,000 members in its Commercial business during the quarter. The Company continues to introduce new, more affordable products to the marketplace and expand membership retention programs through initiatives designed to minimize the impact of rising unemployment on its businesses.

Operating Revenue: Operating revenue was $15.3 billion in the second quarter of 2009, a decrease of 1.4 percent from $15.5 billion in the second quarter of 2008. The revenue decline resulted primarily from lower fully insured Commercial enrollment in 2009, partially offset by premium rate increases.

Benefit Expense Ratio: The benefit expense ratio was 82.9 percent in the seco
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SOURCE WellPoint, Inc.
Copyright©2009 PR Newswire.
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