COMPANY GIVES BACK $44.7 MILLION AFTER PROFITING TOO MUCH ON NEBRASKA MEDICAID CONTRACT

LINCOLN — WellCare, a Tampa, Florida-based company, raked in more than five times the allowable profit in its first year of managing the care of Nebraska Medicaid patients.

WellCare of Nebraska is one of three private companies that contract with the state to administer physical health, behavioral health and pharmacy services for the majority of Medicaid patients.

Under the contract, the company — which pulled in 15% profits in its first year — had to turn back profits exceeding 3% of revenues. According to the Nebraska Department of Health and Human Services, the excess amounted to $44.7 million for 2017.

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