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Angela Braly

Insurer WellPoint sees $20 billion Obamacare opportunity

WellPoint Inc , the nation's second largest health insurer, sees President Barack Obama's healthcare reform giving a $20 billion boost to its revenue by 2016, led by an expansion of the Medicaid program for the poor and the introduction of subsidized coverage for the uninsured.WellPoint will be one of the largest players on health insurance exchanges created by the Affordable Care Act that will allow consumers to choose subsidized health plans beginning on October 1. It plans to compete on the exchanges in the 14 states where it operates Blue Cross Blue Shield licenses.In addition, about half of the states where it operates have elected to expand the government's Medicaid program, increasing eligibility to millions more people. These two central provisions of "Obamacare" are expected to expand insurance to 25 million more Americans by 2016.Wellpoint gave the upbeat forecast alongside higher than expected quarterly results, but its shares were held back by a cautious outlook for 2014."O...

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