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Names in the News: WellCare

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A private health maintenance organization that has state contracts to serve more than 2.3 million Medicare and Medicaid patients was raided last week by federal and state authorities investigating fraud allegations. The focus of the raid on the Tampa, Fla., office of WellCare Health Plans was information pertaining to the company's Florida operations. The company provides services for 356,000 of Florida's Medicare patients and is expecting $706 million in payments. After news of the raid spread, the company's stock fell almost 63 percent in a day.
WellCare and its subsidiaries, gave more than $2 million to candidate and party committees between 2000 and 2006. An analysis of these contributions.