VIRGINIA BEACH, Va., April 12 /PRNewswire-FirstCall/ -- The Maryland legislature is considering a compromise budget in its final day of the 2004 Legislative Session which could include a rate action that might be adverse to AMERIGROUP and other Medicaid managed care organizations. AMERIGROUP cannot comment on these proposed actions until the budget is approved, the Legislature adjourns and the regulatory impact is determined.
AMERIGROUP is committed to transparency in its communications with investors. However, these are ongoing negotiations involving financial, administrative and legal reviews and the outcome may not be finalized for several weeks.
The Company will address this issue in greater detail on its first quarter earnings call scheduled for April 30, 2004.
AMERIGROUP Corporation, headquartered in Virginia Beach, Virginia, is a multi-state managed health care company focused on serving people who receive health care benefits through publicly sponsored programs including Medicaid, State Children's Health Insurance Program, or SCHIP, and FamilyCare. The Company operates in Texas, New Jersey, Maryland, Illinois, Florida and the District of Columbia. For more information about AMERIGROUP Corporation, please visit the Company's web site at http://www.amerigroupcorp.com/.
CONTACT: Investors: Julie Loftus Trudell, +1-757-321-3535 or Media: Doug Blue, +1-757-473-2737, ext. 32811, both of AMERIGROUP Corporation.
AMERIGROUP CorporationCONTACT: Investors: Julie Loftus Trudell, +1-757-321-3535 or Media: DougBlue, +1-757-473-2737, ext. 32811, both of AMERIGROUP Corporation
Web site: http://www.amerigroupcorp.com/
