Make us your home page
Instagram

WellCare is buying Healthfirst's New Jersey Medicaid operations

WellCare Health Plans Inc. is buying the New Jersey Medicaid operations of insurer Healthfirst as part of a push to expand its presence in the state and federally funded program.

Terms of the deal were not disclosed.

WellCare, based in Tampa, Fla., said Monday that Healthfirst Health Plan of New Jersey Inc. serves about 47,000 people with Medicaid coverage in 12 counties. WellCare will acquire Healthfirst's membership and physician rosters.

The insurer said it expects that the deal will help its earnings next year, but it didn't say in a brief statement by how much.

Medicaid provides health coverage for poor and disabled people, and states hire insurers like WellCare to administer the coverage. The company also operates Medicaid coverage in Missouri, South Carolina and Florida, among others.

New Jersey is one of several states that will expand its Medicaid enrollment starting next year as part of the health care overhaul, the massive federal law that aims to provide coverage for millions of uninsured people.

WellCare recently received approval from New Jersey officials to provide Medicaid managed care in Essex, Hudson, Middlesex, Passaic and Union counties starting in December.

Shares of WellCare fell 44 cents to $68.65 Monday in late-morning trading, while the Standard & Poor's 500 index also dropped less than 1 percent. The stock is up about 41 percent so far this year.

WellCare is buying Healthfirst's New Jersey Medicaid operations 09/30/13 [Last modified: Monday, September 30, 2013 4:26pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Legalized medical marijuana signed into law by Rick Scott

    State Roundup

    TALLAHASSEE — Gov. Rick Scott on Friday signed into law a broader medical marijuana system for the state, following through on a promise he made earlier this month.

    Gov. Rick Scott signed legislation on Friday that legalizes medical marijuana in Florida.
  2. Line of moms welcome Once Upon A Child to Carrollwood

    Business

    CARROLLWOOD — Strollers of all shapes and sizes are lined up in front of the store, and inside, there are racks of children's clothing in every color of the rainbow.

    At Once Upon A Child, you often as many baby strollers outside as you find baby furniture and accessories. It recently opened this location in Carrollwood. Photo by Danielle Hauser
  3. Pastries N Chaat brings North India cuisine to North Tampa

    Business

    TAMPA — Pastries N Chaat, a new restaurant offering Indian street food, opened this week near the University of South Florida.

    The menu at Pastries N Chaat includes a large variety of Biriyani, an entree owners say is beloved by millions. Photo courtesy of Pastries N Chaat.
  4. 'Garbage juice' seen as threat to drinking water in Florida Panhandle county

    Water

    To Waste Management, the nation's largest handler of garbage, the liquid that winds up at the bottom of a landfill is called "leachate," and it can safely be disposed of in a well that's 4,200 feet deep.

    Three samples that were displayed by Jackson County NAACP President Ronstance Pittman at a public meeting on Waste Management's deep well injection proposal. The sample on the left is full of leachate from the Jackson County landfill, the stuff that would be injected into the well. The sample on the right shows leachate after it's been treated at a wastewater treatment plant. The one in the middle is tap water.
  5. Honda denies covering up dangers of Takata air bags

    Autos

    With just a third of the defective Takata air bag inflators replaced nationwide, the corporate blame game of who will take responsibility — and pay — for the issue has shifted into another gear.

    Honda is denying covering up dangers of Takata air bags. | [Scott McIntyre, New York Times]