Health insurance giant boosted CEO's pay by 51% in 2009

[and-justice-for-all]

Receiving little press attention over the Easter weekend, filings with the Security and Exchange Commission on April 2 revealed that WellPoint Inc. CEO Angela Braly received a boost in total compensation of more than fifty one percent in 2009. Specifically, Braly’s compensation rose from $8.7 million in 2008 to $13.1 million in 2009. The boost was primarily due to a stock option grant and a performance bonus as WellPoint saw its profits surge to $4.7 billion in 2009 as compared to $2.49 billion in 2008.

Back in February, WellPoint came under intense criticism from the White House and Democrats on Capitol Hill after its California subsidiary Anthem Blue Cross announced that it was raising health insurance rates nearly 40 percent for its individual policy owners –individuals whose employer does not offer health insurance, as well as small business owners. This rate increase announcement has been credited for reigniting the health insurance reform debate that led to last week’s historic legislation.

The Indianapolis-based company is the largest health insurer in the nation, based on the number of customers. Blue Cross BlueShield operates in 14 states, including California as well as Unicare in many other states. In California, Anthem Blue Cross insures more than eight million people, 10 percent of which – 800,000 people - hold individual policies. Those increases are due to go into effect on May 1, less 30 days from today.

More: http://caivn.org/article/2010/04/05/health-insurance-giant-boosted-ceos-pay-51-2009
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This is for-profit insurer denying my friend his back surgery.

[chill_wind]

1. Just

f*@king OBSCENE.

[indepat]

2. MFers all and the Congress has assured this odious industry will still rake off thousands of dollars

per annum, per capital. :grr:

[Catshrink]

3. What does someone do with an "extra" $4.4 million?

Who needs that much money? Who needs $8 million? That's beyond living comfortably.

[and-justice-for-all]

4. It is utterly revolting...nt

[midnight]

5. Another example of wealth transfer.....

[Xenotime]

6. He should have to pay 90% taxes.

[aquart]

7. Angela Braly is insufficiently taxed.

[Cresent City Kid]

8. The right would be screaming if...

instead of a salary hike costing the company $4.4 million, a tax or regulation cost the company the same amount. That $4.4 million would hurt the economy and the country, but the CEO taking that much more home is the cost of doing business.

[Initech]

9. Why do we even bother anymore? It seems like this crap happens daily.

I'm sick of these fucking CEO scumfucks bleeding us dry and laughing all the way to the bank, and it seems there's nothing we can do about it anymore. :argh: