I Hope This Produces Some Pissed Off Whistle-Blowers

[lame54]

http://news.cincinnati.com/article/20091003/BIZ/910030367/WellPoint+cuts+workers+health+benefits

WellPoint cuts workers health benefits
Bloomberg News • October 3, 2009

INDIANAPOLIS - WellPoint Inc., the largest U.S. insurer, dismissed a "small number" of workers last week and announced cuts to employee health benefits Friday, in its latest attempt to deal with the recession's toll on enrollment.

WellPoint eliminated the positions last week and expects to let more go before year's end, though the number will be "relatively small," Kristin Binns, a spokeswoman, said in a telephone interview. The company will also raise deductibles and premiums for some of its employee health benefits, the Indianapolis-based insurer told workers in a memo obtained by Bloomberg.

In the memo from Randy Brown, WellPoint's chief human resources officer, the company said it would lower its contribution toward worker premiums and raise deductibles in two of its three benefit plans. "Your cost per paycheck will probably increase," the memo said.


Protesters march past the outside the downtown Indianapolis corporate headquarters for WellPoint Inc., the largest private health insurer based on membership in the U.S., during a rally on health care reform Tuesday, Sept. 22, 2009. Health insurer WellPoint said Tuesday it may trim some more jobs as part of a push to become more efficient next year.

[dixiegrrrrl]

1. I love it when they start eating their own.

This oughta produce some real loyal employees....( NOT).
Maybe the newly enfranchised employees will let a few more claims be paid for
Wellpoint's victims....err, I mean, customers?

[havocmom]

2. Ah, so not going with single payer really doesn't save jobs in insurance biz?

Why am I not surprised?

Rat bastards.

[Ironman3476]

5. Everyone knows it's tax cuts that make jobs

[Froward69]

8. Really???

How about alleviating the health care cost off of businesses?
or
penalizing corporations for outsourcing those Jobs?
or
a robust economy?
or
education that teaches one how to start/run their own business?

Tax cuts are not the end all be all for creating jobs!

[Rude Dog]

13. Your sarcasm meter...

It appears to be broken beyond repair. May I suggest buying a new one?

[spanone]

18. is that you mr. bu$h*. funny it didn't do shit during your term except help the wealthy

[Ironman3476]

20. Didn't think you'd rocognize me without my makeup.

[Ironman3476]

3. I didn't realize how much money they were losing.

Maybe Cantor knows of a charity that could help them...

[Phoebe Loosinhouse]

4. The Wellpoint CEO made close to 10 million in salary and stock options last year

http://people.forbes.com/profile/angela-f-braly/85870

There's ALWAYS enough for the upper tier.

[Ruby the Liberal]

7. ...and ~$10mm the year before that.

[Ruby the Liberal]

6. $1mm/day to lobby congress

and these leeches are raising rates and cutting coverage on their employees?

Whistleblowers, line up. Lets hear your stories! You have our undivided attention....

[defendandprotect]

9. k i c k

[Froward69]

10. I think Health Insurance is currently

1)reducing the cost of HC policies to a level less than a public potion would be... as a result of the threat of a public potion.

2)firing these people is a result of reworking the numbers starting with a lower premium. Having to eliminate the cost of those workers to shore up the losses from less expensive Health care premiums.

3)blaming those job cuts on a slow economy, diverting attention from the reasons stated above.

4)Opening the door to be "sorry" they had to lay off people. (poor poor us having to fire people because poor economy) NOT any body ask if the CEO took a pay cut?

[Phoebe Loosinhouse]

11. OK, time for me to re- introduce my pipedream plan for worker vengeance

I have always maintained that this is a plan that would work in finally curbing some of the wretched excesses in the corporate world.

I bet that most of these employees are also stockholders since most large companies make the employer match in company stock.

I maintain that the employee/stockholders need to start filing some class action lawsuits having to do with how excessive executive compensation violates fiduciary standards for the BODs and said executives. I also maintain it is an improper "conversion" of company assets directly into the pockets of the aforementioned self-serving boards and executives. I also think the amounts of stock options serves to dilute the value of the stock in the 401K's. I also think that the executives are looking at short term gains for themselves and could care less about long term gains and security for the employee/stockholders and the company as a whole. In short, I believe they are looting the very companies they are supposed to have responsible charge of to the detriment of employee/stockholders and any other stockholders.

I really think this plan is a winner. I don't understand why the autoworkers or the airline employees haven't gone this route.

I wish I were a labor lawyer.

[Echo In Light]

12. Rec for support

[MineralMan]

14. Cool. Time for some whistle-blowers to get recruited from

the fired employees. Yessir.

[Phoebe Loosinhouse]

15. kick! nt

[MadMaddie]

16. Bet you that the CEO's, execs and top managers won't be impacted

by the cuts, just the worker bees. Just a wild guess...

[lame54]

17. .

[rbixby]

19. I guess wellpoint should stop offering insurance to employees

and just hand out bootstraps, how else can anyone be expected to pull themselves up?