TAMPA, Fla. (AP) — WellCare Health Plans Inc. said Wednesday its third quarter net income more than doubled as Medicare prescription drug premiums boosted revenue and the insurer again raised its 2011 earnings forecast.
The Tampa, Fla., company earned $88.3 million, or $2.03 per share, in the three months that ended Sept. 30. That compares with earnings of $42.9 million, or $1 per share, in last year's quarter.
Stripping out one-time costs, WellCare said it earned $2.15 per share in the third quarter.
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