WellCare (WCG) Shares Rise as State of Kentucky Awards Co. New 3-Year Contract for Medicaid Services
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Shares of WellCare Health (NYSE: WCG) have spiked into positive territory over the last few minutes as the State of Kentucky just announced a new contract with WellCare for Medicaid services.
The State has said the Medicaid plan will save taxpayers around $1.3 billion and will create around 550 new jobs.
WellCare was one of three new managed care firms awarded with the contract. The State also renewed its contract with Passport, which was previously Kentucky's only managed care provider.
WellCare shares are now up 1.8 percent to $54.43.
The State has said the Medicaid plan will save taxpayers around $1.3 billion and will create around 550 new jobs.
WellCare was one of three new managed care firms awarded with the contract. The State also renewed its contract with Passport, which was previously Kentucky's only managed care provider.
WellCare shares are now up 1.8 percent to $54.43.
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