WellPoint, Inc is a health benefits company that offers network-based managed care plans to employers, individuals, seniors, and Medicaid in the United States.
WellPoint Health Networks was founded in 1986 by the non-profit Blue Cross of California (BCC) as a for-profit company to operate its managed care business. This was necessary because of several years of multi-million dollar losses for the non-profit.
The company was incorporated in 1992 with BCC’s most profitable operations concentrated in its new company. This move caused controversy and confusion about whether the company was a non or for-profit company. Technically speaking, BCC was non-profit and WellPoint Health Networks was for-profit.
WellPoint, Inc in its present form was formed when WellPoint Health Networks merged into Anthem, Inc in 2004. The company began trading under the ticker WLP.
In 2009, WellPoint sold its NextRX subsidiaries to Express Scripts for $4.65 billion.
In 2012 WellPoint acquired Amerigroup Corporation for $4.9 billion in cash.
Today WellPoint, Inc has almost 40,000 employees, is part of the S&P 500, and has over $60 billion in revenue each year.