Obamacare is already making insurance giant WellPoint feel a whole lot healthier.
WellPoint trumpeted that good news during an analyst conference call last week to discuss second-quarter results. Not only did its quarterly results beat analysts' expectations, but newly minted CEO Joseph Swedish said the company expects a windfall of sorts from the Patient Protection and Affordable Care Act — as much as $20 billion by 2016.
Some on Wall Street arched an eyebrow at that one. "Pretty bullish," said one, who doubted Wellpoint's ability to grow so far, so fast. But Swedish, though clearly labeling his projections as just that, insisted they were realistic.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
