WellCare Health Plans Inc. (WCG) contracts with health-care providers to deliver health-care services to its members and have embraced the trend of growth in Medicare and Medicaid as baby boomers reach retirement age to the tune of $1 billion in revenues.
The growth of the company can be attributed to several factors including the offering of a prescription drug plan on a nationwide basis as of Jan. 1 of this year, they are th o nly health plan selected to provide Medicaid services on a statewide basis in Georgia adding 410,000 members from that state alone.
Analysts believe this stock provides greater potential for growth then similar companies such as Aetna Inc. (AET) and UnitedHealth Group Inc. (UNH) even with their respective and remarkable increases of 28% and 31%. WellCare comes in with an astounding 68% increase and the stock has steadily increased since going public in 2004.
Comment Preview