Monday, April 05, 2010

Should have gone with single payer

Somebody remind me why they didn't just pass single payer and cut these bloodsucking middlemen out of the equation?"

WellPoint Inc. revealed Friday that it boosted its chief executive's compensation 51% last year, ...Chief Executive Angela F. Braly saw her total compensation shoot to $13.1 million, from $8.7 million a year earlier, according to a filing with the Securities and Exchange Commission. At least three other WellPoint executives got compensation increases of as much as 75%.

Finance chief Wayne DeVeydt took home $7.2 million, up from $4.1 million in 2008. Ken Goulet, the head of WellPoint's commercial business unit, got $4.4 million, up from $2.7 million. Dijuana Lewis, the head of its comprehensive health solutions unit, got $4.5 million, up from $2.7 million.
"WellPoint defended the pay increases, saying they reflected the company's overall positive performance in 2009. Its stock price rose 38.4% last year to $58.29, from $42.13 in 2008." Yet they had to raise individual policy rates up to 39% for "adminsitrative costs?" What the hell do these people do that is worth that much money, besides kill people with their greedy moneygrubbing I mean.

[More posts daily at The Detroit News]

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