WELLCARE HEALTH PLANS, INC. (NYSE:WCG) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure
certain 2017 financial metrics and updated its guidance for
certain 2016 financial metrics. In addition, the Company intends
to provide the attached presentation in connection with general
investor discussions.
furnished as Exhibit 99.2 are incorporated by reference herein.
Form 8-K (the 8-K) and the press release attached as Exhibit 99.1
and presentation attached as Exhibit 99.2 contain forward-looking
statements that are made to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Statements that
are predictive in nature, that depend upon or refer to future
events or conditions, or that include words such as expects,
anticipates, intends, plans, believes, estimates, will, and
similar expressions are forward-looking statements. For example,
statements regarding the companys financial outlook, the start
date of new Medicaid programs, and the timing, closing and
financial impact of pending acquisitions contain forward-looking
statements. Forward-looking statements involve known and unknown
risks and uncertainties that may cause WellCares actual future
results to differ materially from those projected or contemplated
in the forward-looking statements. These risks and uncertainties
include, but are not limited to, WellCares progress on top
priorities such as improving health care quality and access,
ensuring a competitive cost position, and delivering prudent,
profitable growth, WellCares ability to effectively estimate and
manage growth, WellCares ability to effectively execute and
integrate acquisitions, potential reductions in Medicaid and
Medicare revenue, WellCares ability to estimate and manage
medical benefits expense effectively, including through its
vendors, its ability to negotiate actuarially sound rates,
especially in new programs with limited experience, the
appropriation and payment by state governments of Medicaid
premiums receivable, the timing and ability to satisfy closing
conditions for pending acquisitions, including receipt of
regulatory approvals, adjustments to the purchase price of
pending acquisitions and the manner of payment of the purchase
price for pending acquisitions, the outcome of any protests and
litigation related to Medicaid awards, the approval of Medicaid
contracts by CMS, any changes to the programs or contracts,
WellCares ability to address operational challenges related to
new business, WellCares ability to meet the requirements of
readiness reviews, and WellCares ability to comply with the terms
of the Corporate Integrity Agreement. Given the risks and
uncertainties inherent in forward-looking statements, any of
WellCares forward-looking statements could be incorrect and
investors are cautioned not to place undue reliance on any of our
forward-looking statements.
and uncertainties can be found in the companys filings with the
U.S. Securities and Exchange Commission (SEC), included under the
captions Forward-Looking Statements and Risk Factors in the
companys Annual Report on Form 10-K for the year ended December
31, 2015, Quarterly Report on Form 10-Q for the quarter ended
September 30, 2016 and other filings by WellCare with the SEC,
which contain discussions of WellCares business and the various
factors that may affect it. Subsequent events and developments
may cause actual results to differ, perhaps materially, from
WellCares forward-looking statements. WellCares forward-looking
statements speak only as of the date on which the statements are
made. WellCare undertakes no duty, and expressly disclaims any
obligation, to update these forward-looking statements to reflect
any future events, developments or otherwise.
99.1 and 99.2 shall not be deemed to be filed for the purpose of
Section 18 of the Securities Exchange Act of 1934, as amended
(the Exchange Act), or otherwise subject to the liabilities of
that section, and shall not be incorporated by reference into any
registration statement or other document under the Securities Act
of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.
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Exhibit
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Number
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Description
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99.1
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Press Release dated December 19, 2016*
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99.2
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Presentation dated December 19, 2016*
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*
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Furnished and not filed.
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About WELLCARE HEALTH PLANS, INC. (NYSE:WCG)
WellCare Health Plans, Inc. is a managed care company focused on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs) to families, children, seniors and individuals with complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs. The Medicaid Health Plans segment includes plans for beneficiaries of Temporary Assistance for Needy Families, Supplemental Security Income, Aged Blind and Disabled and other state-based programs, such as Children’s Health Insurance Program and Managed Long-Term Care programs. The Medicare program provides health care coverage primarily to individuals age 65 or older, as well as to individuals with certain disabilities. It has contracts with Centers for Medicare & Medicaid Services to serve as a plan sponsor offering Medicare Part D PDP plans to Medicare-eligible beneficiaries through its Medicare PDPs segment. WELLCARE HEALTH PLANS, INC. (NYSE:WCG) Recent Trading Information
WELLCARE HEALTH PLANS, INC. (NYSE:WCG) closed its last trading session down -0.73 at 135.77 with 534,930 shares trading hands.
