Flu-related costs caused WellCare to have an extra $15 million charge in the fourth quarter, which ended Dec. 31, 2014, according to the report.
WellCare posted earnings of $7.7 million for the fourth quarter, a significant decrease from the $42.9 million the company posted for the same period of the prior year.
WellCare CEO Kenneth Burdwick said, “While we are disappointed with our fourth-quarter earnings due to the effect of the early and more severe flu season on our Medicaid business, we are focused on enhancing our core capabilities,” according to the report.
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