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UnitedHealth competitor WellPoint Inc. said it is planning to be on exchanges in all 14 states in which it sells plans with its well-known Blue Cross Blue Shield brand. But a company spokeswoman said in an email the insurer wants to see exchanges that emphasize competition and maximize choice for customers. Whether insurers ultimately leave some exchanges thin on competition remains to be seen. Wells Fargo analyst Peter Costa said every company will weigh the risks of participating in those exchanges against potential benefits. But too many details about the exchanges remain unknown to say how those deliberations will pan out. Morningstar analyst Matthew Coffina expects widespread insurer participation. He noted that some companies will lose business to the exchanges, so they will need to be on them to recapture it and gain new customers. He also noted that government officials will want credible companies like UnitedHealth or WellPoint on their exchanges and not just small, local insurers. "I think regulators are aware of that, so they'll want to offer rules and terms that are attractive enough to attract a robust participation," he said.
Hemsley spoke to analysts Thursday morning after UnitedHealth announced results from the recently completed fourth quarter. The insurer's earnings slipped 1 percent to $1.24 billion. Earnings per share rose 3 cents to $1.20 compared to the last quarter of 2011, when the company had more shares outstanding. UnitedHealth's total revenue climbed 11 percent to $28.77 billion.
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