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Incentives to assist WellCare expansion

The Tampa HMO provider plans to add 455 jobs over the next three years and could get refunds of up to $3,000 per job.

By KRIS HUNDLEY
Published September 28, 2005

WellCare Health Plans Inc., the fast-growing provider of Medicaid and Medicare HMOs, will get public tax incentives for a major expansion of its Tampa Bay area work force.

The Tampa company said late Tuesday that it will add 455 jobs to its base of 1,154 local employees over the next three years. The positions will pay more than 115 percent of the average annual wage in Hillsborough County, or more than $41,000 per year.

Because of the better-than-average wages being offered, WellCare has been approved for incentives under Florida's Qualified Target Industry Tax refund program. The refunds, of up to $3,000 per job, offset the cost of each new position created for the employer. The subsidy program is funded 20 percent by the county and 80 percent by the state.

"As a growing and successful company, WellCare Health Plans is an asset to Florida's dynamic business landscape and Tampa Bay's outstanding professional services community," Gov. Jeb Bush said in a release by the Greater Tampa Chamber of Commerce announcing the incentives.

WellCare was owned by Tampa doctor Kiran Patel until he sold it to New York investors in 2002. It has been growing aggressively since it became a public company in July 2004. It operates Medicaid HMOs in Florida, New York, Connecticut, Illinois and Indiana. The company was also recently approved to offer a Medicaid managed care program in Georgia, starting in April.

In addition, the company operates Medicare HMOs in Florida, New York, Connecticut, Illinois and Louisiana. WellCare will also be active in the new Medicare drug benefit, offering standalone prescription plans for seniors nationwide and drug coverage through many of its Medicare HMOs.

Last week, Heath Schiesser, head of WellCare's Medicare prescription drug plans, said the company had added about 100 employees to gear up for the new prescription program and expected to add a similar number by mid 2006.

On Tuesday, he said a portion of the employees to be hired will work in a new prescription services fulfillment center that will support the Medicare enrollees. The remainder will support the expansion of WellCare's Medicaid programs.

WellCare said it plans to expand its headquarters off Henderson Road by September, investing more than $7-million in construction, renovation and other equipment.

WellCare has about 800,000 members. Only 60,000 are in Medicare HMOs, while the rest are in Medicaid managed care plans.

Kris Hundley can be reached at hundley@sptimes.com of 727 892-2996.

[Last modified September 28, 2005, 02:30:38]