("WellPoint 3Q Profit Falls 11%; Views Topped; Year EPS View Cut," published at 6:30 a.m. EDT, incorrectly compared the company's new earnings forecast, which includes charges, to a prior forecast that excluded them. A corrected story follows.)

 
   DOW JONES NEWSWIRES

WellPoint Inc.'s (WLP) third-quarter earnings fell 11% on declining enrollments and asset write-downs, though the results were better than expected.

Chairman and Chief Executive Angela Braly said the nation's largest health insurer by members remains confident about the outlook for the current quarter and expects net growth of more than 400,000 national members in January.

The company raised its 2009 revenue estimates by $300 million to $60.9 billion and affirmed its earnings view. WellPoint also expects year-end medical enrollment of 33.6 million members, which would be down 300,000 from Sept. 30 levels.

The managed-care industry faces concerns about Washington's health-care debate and an expected wave of H1N1 flu this fall and winter, in addition to challenges from the recession. WellPoint in recent quarters has shown signs of getting a better handle on rising medical costs. The company has introduced more-affordable products and expanded retention programs amid the recession.

The government recently lifted marketing and enrollment sanctions on WellPoint's Medicare products in time for the company to sign up beneficiaries for next year.

WellPoint reported a profit of $730.2 million, or $1.53 a share, down from $820.7 million, or $1.60 a share, a year earlier. The latest period included a net 25 cents in write-downs.

Revenue rose 3.1% to $15.43 billion, though premium revenue declined just 1.1%.

Analysts polled by Thomson Reuters most recently forecast earnings of $1.37 on revenue of $15.15 billion.

Medical membership fell 4.2% to 33.9 million as of Sept. 30 from a year earlier and dropped 300,000 during the quarter.

Its medical-loss ratio, or the amount of premiums used to pay patient medical costs, fell to 81.1% from 82.5% a year earlier and 82.9% in the second quarter.

Express Scripts Inc. (ESRX) in April agreed to buy WellPoint's in-house pharmacy-management business for $4.68 billion. The deal, expected to close before year-end, is a shift from prior a strategy among health insurers to own and control their own PBMs, could pressure rivals to do the same.

WellPoint shares closed Tuesday at $46.70 and didn't trade premarket.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;