WellPoint says exchange business costs are as planned
July 30 (Reuters) - WellPoint Inc Chief Financial Officer Wayne DeVeydt said on Wednesday the costs for new exchange customers were tracking within the company's expectations and are covered by the premium prices it has charged in 2014.
The company still expects profit margins on the new exchange business of 3 percent to 5 percent. DeVeydt said the company may need to pay into the pool of money this year that will be available to insurance companies in order to balance their risk of participating in the new exchanges.
The exchanges were created under President Barack Obama's national healthcare reform law and coverage began on Jan. 1, 2014. (Reporting by Caroline Humer)