(Bloomberg) — WellPoint Inc., the second-biggest U.S. health insurer, raised its profit forecast for 2013 after lower-than-projected medical costs helped its earnings beat analyst estimates for the second quarter.

Net-income soared 24% to $800.1 million, or $2.64 a share, the Indianapolis-based carrier says today in a statement. Earnings excluding one-time acquisition costs and investment gains were $2.60 a share. Analysts had predicted $2.08, the average of 19 estimates compiled by Bloomberg.

Register or login for access to this item and much more

All Employee Benefit Adviser content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access