Health insurer WellCare Health Plans Inc. said Wednesday it has agreed to pay a civil penalty to resolve allegations of questionable campaign contributions in Florida.

The company said it voluntarily disclosed to the Florida Elections Commission questionable contributions by certain subsidiaries from 2003 through 2007.

The company resolved the issues by agreeing to pay a $120,000 civil penalty. It also agreed not to contest the commission's finding of probable cause that the contributions violated Florida state laws.

"Our voluntary disclosure to the commission demonstrates our enterprise-wide commitment to regulatory compliance, transparency, and accountability," said Thomas F. O'Neil III, WellCare's vice chairman. "Those responsible for these issues are no longer employed by the company."

The allegations involved four WellCare subsidiaries, which made contributions that exceeded legal limits.

The company said there is no evidence that the violations were intentional, or that any subsidiary was created or maintained for the purpose of making contributions.

WellCare said it suspended its contributions to Florida election campaigns during the second quarter of 2008.

The Tampa-based company provides managed care for government-sponsored health care programs focusing on Medicaid and Medicare. It serves about 2.4 million clients nationwide.

Shares fell 51 cents, or 2 percent, to $24.39 in afternoon trading.