WellCare lays off 360 workers

WellCare Health Plans, Inc., is laying off 9 percent of its workforce as part of a restructuring move.

The Tampa, Fla.-based health insurance company said it would lay off 360 workers, partly because of its plan to withdraw from Medicare Advantage fee-for-service plans in 2010. WellCare has already suspended marketing and enrollment for Medicare health plans because of regulatory sanctions.

The Centers for Medicare and Medicaid Services has imposed sanctions on the company's Medicare Advantage plans and Medicare Prescription Drug Plans, following federal raids on its offices and audits in 2007.