NEW YORK AP – A CIBC World Markets analyst said Thursday the U.S. government’s investigation of WellCare Health Plans Inc. is focused on the company’s Florida Medicaid unit, and not on larger allegations of fraud that could put the health insurer out of business.
The FBI, Department of Health and Human Services and the Medicare fraud division of the Florida Attorney General’s office raided WellCare’s Tampa, Fla., headquarters on Oct. 24, taking documents in what analysts say is an investigation related to a “whistleblower” lawsuit.
