SHEDDING RISK; Insurers see banking future; Many have found that managing customers' money is more profitable than underwriting medical coverage.
WellPoint Inc., the nation's largest health insurance company, ran into a snag last year while pursuing an important new business initiative. Federal banking regulators insisted on classifying WellPoint as a healthcare company. And that was interfering with its efforts to open a bank. The Federal Reserve Board eventually agreed that the company's core insurance business could be considered financial services. But what about its mail-order pharmacy and its program for managing chronic diseases, w...
10/22/2008 12:00:00 PM
News & Issues - Business/Financial News
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