WellPoint 2006 Annual Report Download

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WellPoint, Inc.
2006 Summary Annual Report

Table of contents

  • Page 1
    WellPoint, Inc. 2006 Summary Annual Report A-A

  • Page 2
    ...the nation's leading health benefits company, serving more than 34 million Americans, WellPoint connects with more doctors, hospitals and communities than anyone else. By turning... choice for consumers and the leader in affordable quality care. transforming WellPoint, Inc. 2006 Summary Annual Report

  • Page 3
    ... benefits, pharmacy benefit management, dental, vision, behavioral health benefit services, as well as long-term care insurance and flexible spending accounts. WellPoint is an independent licensee of the Blue Cross and Blue Shield Association in 14 states and also serves members across the country...

  • Page 4
    ... is retiring as President and Chief Executive Officer, effective June 1, 2007. Mr. Glasscock will continue to serve as Chairman of the Board. WellPoint's Board of Directors has named Angela F. Braly as President and Chief Executive Officer and a member of the Board of Directors, also effective...

  • Page 5
    ...report is that we have moved beyond aspiration to action, with initiatives well under way to achieve each of these goals. What you should also know is that we are tracking our progress with specific measures and annual...hospitals. 2006 performance highlights Our dedication to making WellPoint the ...

  • Page 6
    ...'s individual products, but we recognize that a majority of the uninsured are currently unable to get coverage through the private market. In January 2007 we proposed WellPoint, Inc. 2006 Summary Annual Report

  • Page 7
    ... transforming health care and becoming the most valued company in our industry. We are well on our way to achieving this vision. Our goals for WellPoint are to be recognized as the most trusted choice for consumers and the leader in affordable quality care. We know that achieving these goals will...

  • Page 8
    ... health. These are our aspirations for the future of health care. The following pages will detail what we're doing today to get there. envision WellPoint, Inc. 2006 Summary Annual Report

  • Page 9
    Our aspirations for the future of health care: Simplify the health care system Page 8 # 1 2 3 4 5 Consumer-focused health care Help Americans more effectively navigate to better health and wellness, through simplified processes and personalized information and services. # Choice-based, ...

  • Page 10
    ... to us, and we have to depend on someone else to make our decisions for us. WellPoint believes the health care system should treat us as individuals with unique health needs, and should provide... can make informed decisions for themselves and their families. WellPoint, Inc. 2006 Summary Annual Report

  • Page 11
    ... costs, and ancillary services. Cost figures are updated quarterly. Sam Shalaby (right), director of community health care initiatives for GM, says, "WellPoint and GM are demonstrating the value that transparency brings to today's health care system. That takes great leadership and commitment to...

  • Page 12
    ...at Wachovia in Atlanta, works with more than a hundred Georgia employers who have chosen WellPoint as their health insurer. Mr. Fallon says that 360° Health, which helps hold ... management are extremely important, and 360° Health is on the cutting edge." WellPoint, Inc. 2006 Summary Annual Report

  • Page 13
    ... medical expenses. Research shows that CDHPs deliver clear benefits. Nearly one-fifth of our CDHP consumers feel they are healthier because of their WellPoint CDHP, through actions such as additional exercise and improved diet or nutrition, and more than half say they are more informed about their...

  • Page 14
    ... a WellPoint associate involved in enrollment efforts in San Diego. Our enrollment vans travel to community events and clinics in underserved neighborhoods. In 2007, we're launching mobile education and outreach efforts in Indiana, Ohio, Nevada and Kansas. WellPoint, Inc. 2006 Summary Annual Report

  • Page 15
    ...rising. According to the U.S. Census Bureau, more than 46 million people went without coverage in 2005 - an increase of more than 1 million since 2004. WellPoint is committed to helping hold down the growth in health care costs and reducing the number of uninsured Americans. In the past two years we...

  • Page 16
    ... health benefits through an employer or chooses to go without coverage. WellPoint companies are actively marketing products with pricing and features tailored specifically to groups that have traditionally forgone health insurance. We're also introducing WellPoint, Inc. 2006 Summary Annual Report

  • Page 17
    ... the most needy adults, and a public-private partnership to help low-income workers afford coverage. 1990 1995 2000 2005 Source: U.S. Census Bureau WellPoint is committed to reducing the rate of the uninsured and underserved. We will measure the success of our strategy by tracking our progress...

  • Page 18
    ...time, the system falls short of delivering treatments aligned with best practices. WellPoint is collaborating with doctors and hospitals on programs that use information technology both ... and help support further investments in information technology. WellPoint, Inc. 2006 Summary Annual Report

  • Page 19
    ... rewards hospitals in our network for improvements in patient safety, patient health and patient satisfaction. In 2006, we introduced Q-HIP in New Hampshire. Marion Percy, RN, BSN, is a nurse at ... costs while improving the quality of care - not only for WellPoint members but for all patients. 16-17

  • Page 20
    ...adoption of technology and streamlined administrative processes, and patient satisfaction. In 2006, WellPoint paid out approximately $140 million to hospitals and physicians to reward...advance the use of information technology in the delivery of health care. WellPoint, Inc. 2006 Summary Annual Report

  • Page 21
    ... an estimated $3.5 billion annually. Many preventable mistakes are due to simple miscommunication or paperwork errors. WellPoint is working with physicians ...our members receive prompt and appropriate care. In 2006, for example, WellPoint Dental implemented a customer advocacy model that empowers...

  • Page 22
    ...one of the critical challenges confronting the health care system in America today. According to a 2006 study by the Agency for Healthcare Research and Quality, too few Americans are being screened and...system for everyone - not just our own members. health WellPoint, Inc. 2006 Summary Annual Report

  • Page 23
    Help in dealing with breast cancer Six years ago as a result of her annual checkup, Jenifer Hinkemeyer of Newnan, Georgia, learned that she had breast cancer. A wife and mother of three, Jenifer participated in a Breast Cancer Care Program introduced ...

  • Page 24
    ...largest social legacies dedicated to improving the health of our communities. In 2006, the WellPoint Foundation paid out approximately $20 million in grants, including approximately $9..., Inc., owner of the Weight Watchers trademark. All rights reserved. WellPoint, Inc. 2006 Summary Annual Report

  • Page 25
    ... performance in fulfilling both our corporate mission and our strategy to truly transform health care. WellPoint Health Status Rankings, 2006 1 is best, 51 is worst 1-10 11-20 21-30 31-40 41-51 WellPoint State Health Index To support our commitment to measurable improvements in public health, we...

  • Page 26
    ... Through the BlueCard program, WellPoint's 14 Blue Cross and Blue Shield Association-licensed plans give 4.3 million members of other independent Blue plans access to our provider networks and discounts for services covered under their own benefit plans. WellPoint, Inc. 2006 Summary Annual Report

  • Page 27
    ...'s 2006-2007 Associate Giving Campaign resulted in associate and Foundation matching grants of $20.7 million to community causes. WellPoint has created or funded independent charitable foundations in many states we serve, with billions of dollars in assets. WellPoint's Social Responsibility Report...

  • Page 28
    ... financial statements and accompanying notes and Management's Discussion and Analysis of Financial Condition and Results of Operations included in WellPoint's 2006 Annual Report on Form 10-K. Note 2: Certain prior year amounts have been reclassified to conform to current year presentation. Selling...

  • Page 29
    Consolidated Balance Sheets In millions, except share data 2006 December 31, 2005 Assets Current assets: Cash and cash equivalents Investments ...conjunction with the audited consolidated financial statements and accompanying notes included in WellPoint's 2006 Annual Report on Form 10-K. 26-27

  • Page 30
    ...Statements of Income In millions, except per share data 2006 Year ended December 31, 2005 2004 Revenues Premiums Administrative... the audited consolidated financial statements and accompanying notes included in WellPoint's 2006 Annual Report on Form 10-K. WellPoint, Inc. 2006 Summary Annual Report

  • Page 31
    Consolidated Statements of Cash Flows In millions 2006 Year ended December 31, 2005 2004 Operating Activities Net income ... above should be read in conjunction with the audited consolidated financial statements and accompanying notes included in WellPoint's 2006 Annual Report on Form 10-K. 28-29

  • Page 32
    Board of Directors Larry C. Glasscock Chairman, President and Chief Executive Officer WellPoint, Inc. Lenox D. Baker, Jr., M.D. President Mid-Atlantic Cardiothoracic Surgeons, Ltd...., Brookfield Properties Corp. and of Counsel, Weil, Gotshal & Manges LLP WellPoint, Inc. 2006 Summary Annual Report

  • Page 33
    ... as President and Chief Executive Officer, effective June 1, 2007. Mr. Glasscock will continue to serve as Chairman of the Board. Concurrently, WellPoint's Board of Directors named Angela F. Braly as President and Chief Executive Officer and a member of the Board of Directors, also effective June...

  • Page 34
    ...will be at the discretion of the Board of Directors. Annual Meeting The annual meeting of shareholders of WellPoint, Inc. will be held at 10:00 a.m. Eastern Daylight Time on May 16, 2007, at WellPoint's headquarters, 120 Monument Circle, Indianapolis, IN. WellPoint, Inc. 2006 Summary Annual Report

  • Page 35
    Our Vision WellPoint will transform health care and become the most valued company in our industry. Our Mission Improve the lives of the people we serve and the health of our communities. This report was printed on FSC certified Mohawk Paper Mills Options 100% PC Recycled stock. The papers were ...

  • Page 36
    WellPoint, Inc. 120 Monument Circle, Indianapolis, IN 46204 www.wellpoint.com WLP-AR-2007