Tampa-based WellCare Health Plans reported a jump in profits during the first three months of 2014 and also indicated it will see growth in Florida under a new Medicaid managed-care system. WellCare had net income during the first quarter of $44.1 million, or $1 per diluted share, compared with $21.5 million, or $0.49 per diluted share, during the same period last year.
On an adjusted basis, WellCare reported net income this year of $49.7 million, or $1.13 per diluted share, compared with $27.5 million, or $0.63 per diluted share, during the first quarter in 2013.
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