CHICAGO (Reuters) – Health insurer WellPoint Inc (WLP.N) said on Tuesday it canceled its investor day scheduled for later this month so it can prepare for a congressional hearing on premium rate increases.
WellPoint, the largest U.S. health insurer by membership, also reiterated its full-year forecast for net income of at least $6 a share, and said it would provide more details on its outlook on a conference call with investors on March 17.
The forecast, it said, is subject to its ability to secure sufficient premium rates.
WellPoint’s shares slumped $1.37, or 2.3 percent, to $57.96 in afternoon trading on the New York Stock Exchange. Read More…
