Wellcare FBI Raid News – Nearly 200 FBI agents raided the Tampa headquarters of Wellcare, seizing boxes of records related to Wellcare’s Federal Medicaid contract.
Here’s a photo taken during the Wellcare FBI raid:
The Wellcare raid had a stealth aspect where a small group of agents went in first to quickly secure access to the company’s records, making sure no documents were destroyed or electronic records erased.
Minutes later, dozens of unmarked vehicles with flashing lights swooped in and surrounded the building, taking up positions ouside every exit.
Most employees were told to leave for the day without being told exactly what was happening. Others were ordered to produce all the relevant records specified in the search warrant.
A recent Medicare report said they violated eight major contract provisions including:
- 40% of clients were denied coverage they actually had
- Failed to respond to appeals from clients denied that coverage
Acting U.S. Attorney James Klindt said FBI agents and law enforcement agents from the U.S. Department of Health and Human Services as well as the Florida Attorney General’s Medicaid Fraud Control Unit participated in the execution of the warrant at Wellcare’s corporate headquarters in Tampa.
The ongoing investigation “does not directly concern, nor should it have any impact upon, the delivery of any health care service to any person,” the U.S. Attorney’s Office said in a statement.
The office gave no further details on the investigation. The FBI did not immediately return calls for comment on the Wellcare raid.
Wellcare has 500,000 healthcare clients in Florida and has tripled it’s profits since going public in 2004.
And that’s the latest news on the Wellcare FBI Raid.
Tags: health, wellcare, wellcare fbi, wellcare fbi raid
October 24th, 2007 at 6:28 pm
[...] Ivan wrote an interesting post today onHere’s a quick excerptWellcare has 500000 healthcare clients in Florida and has tripled it’s profits since going public in 2004. And that’s the latest news on the Wellcare FBI Raid. Tags: News, Web Site Traffic. [...]
October 24th, 2007 at 7:00 pm
[...] Here is an interesting post today onHere’s a quick excerptActing US Attorney James Klindt said FBI agents and law enforcement agents from the US Department of Health and Human Services as well as the Florida Attorney General’s Medicaid Fraud Control Unit participated in the execution of the … [...]
October 24th, 2007 at 8:08 pm
[...] hitsusa wrote an interesting post today on Wellcare FBI RaidHere’s a quick excerptWellcare has 500000 healthcare clients in Florida and has tripled it’s profits since going public in 2004. And that’s the latest news on the Wellcare FBI Raid. Tags: News, Web Site Traffic. [...]
October 24th, 2007 at 8:47 pm
Here’s a thought does anyone know why the CEO’s office where searched, when all they are talking about is” billing and claims practices” and why did all the BIG wigs cash out last year or the start of this one
October 25th, 2007 at 4:35 pm
From CNBC:
“Shares of WellCare Health Plans plunged as much as 61 percent Thursday, a day after federal and state government agents searched its headquarters in Tampa, Florida.
WellCare Health Plans Inc WCG
42.67 -72.50 -62.95% NYSE
The share drop wiped out nearly $3 billion in market value in WellCare, which offers health coverage to Medicare and Medicaid recipients.
WellCare serves more than 2.3 million members through its Medicaid health plans for low-income Americans and Medicare plans for the elderly.”
Hmm… Shareholder class action lawsuit coming soon?
November 28th, 2007 at 3:52 pm
[...] recently plummetted from $130 to $27 at its lowest thanks to being raided by the FBI. They also regularly screw over their customers. Please, stay away from the [...]
April 15th, 2009 at 9:51 am
They’re all crooks. Hope they throw the book at them.