House Dems seek info from health insurers-request detailed records

[kpete]

Source: Associated Press

House Dems seek info from health insurers
House Democrats request detailed records from industry opposed to health legislation

* By David Espo, AP Special Correspondent
* On Wednesday August 19, 2009, 7:08 am EDT

WASHINGTON (AP) -- Democrats on a House committee are seeking detailed financial records from dozens of large insurance companies, officials disclosed Tuesday, part of an investigation into "executive compensation and other business practices" in an industry opposed to President Barack Obama's plan to overhaul health care.

The request included records relating to compensation of highly paid employees, documents relating to companies' premium income and claims payments, and information on expenses stemming from any event held outside company facilities in the past 2 1/2 years.

The requests were made in letters signed by Rep. Henry Waxman, D-Calif., who guided a portion of health care legislation through the House Energy and Commerce Committee last month as chairman, and Rep. Bart Stupak, D-Mich., who heads the Energy and Commerce investigations and oversight subcommittee.

They wrote that the committee was "examining executive compensation and other business practices in the health insurance industry." The Associated Press obtained a copy.

Read more: http://finance.yahoo.com/news/House-Dems-seek-info-from-apf-1495025864.html?x=0&sec=topStories&pos=6&asset=&ccode=

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more:

House Democrats are probing the nation’s largest insurance companies for lavish spending, demanding reams of compensation data and schedules of retreats and conferences.

Letters sent to 52 insurance companies by Democratic leaders demand extensive documents for an examination of ‘extensive compensation and other business practices in the health insurance industry.” The letters set a deadline of Sept. 14 for the documents.

Read more: http://www.politico.com/news/stories/0809/26251.html#ixzz0Odint0fn

[Buns_of_Fire]

1. The shot across the bow... n/t

[RUMMYisFROSTED]

7. That's how I read it. nt

[Name removed]

13. Deleted message

Message removed by moderator. Click here to review the message board rules.

[glinda]

14. I suspect.

[xchrom]

2. more of this, please. nt

[supernova]

3. Do it!

:thumbsup:

[Proletariatprincess]

4. oh gimme a break....

The most we can expect is what we already know. Insurance companies are thieving scumbags who will kill people to make profits. They will fight in court to prevent this disclosure and, even if they lose and all is revealed to be as bad or even worse than we know it to be now, it will make no difference in the long run. The truth doesn't matter. Lies are believed and bought wholesale by the citizens of this ridiculous country who don't trust facts and are so willfully ignorant and uniformed that they can be easily led by the most transparent and outrageous lies.
I just don't see any possible way that this will end well. Only a general strike could make a difference now a that is so far from the realm of possibility in the USA that it is almost laughable........ but I feel like crying.

[Hugin]

5. Wow... Well said.

As an aside... Do you take one big breath before starting a good rant or take several breaths during? :o

I'm trying to develop a style... and, I'd like the advice of a Master. :)

[drm604]

6. Their refusal to provide this information could be used against them.

Even if they refuse to provide this information, that in itself can be used against them.

"Why won't they provide this information? What are they trying to hide? If they're truely operating honestly and above board then why aren't they cooperating?"

[nradisic]

8. The insurance companies cannot win this one...

The fact that Dems have requested this info is awesome. The insurance companies will hang themselves. If they divulge all of the requested info they are screwed and if they fight it then they loose too...The insurance companies cannot win this fight. The fat lady just sang, yet they have no clue. It is like dead man walking...they are toast one way or the other and you know what? They asked for it!

[pattmarty]

9. If they get the info in the next couple of weeks, this could blow this................

...............healthcare thing wide open. May even get some cowardly Republicans to sign on. It is about fucking time.

[crazyjoe]

10. and while your at it, let's see a report on all payments, donations,

and information on expenses stemming from any event held outside washington DC in the past 2 1/2 years for all members of congress.
now that would be interesting.

[Vidar]

11. Way to nail the bastards! Please continue.

[Kingofalldems]

12. Republicans posing as blue dog Democrats are in a state of shock

[FreakinDJ]

15. Democrats Scrutinize Health Insurance Executive Pay

Source: CBS News

Democrats Scrutinize Health Insurance Executive Pay

Some leading Democrats are questioning the way the health insurance industry compensates its highest-paid employees, as well as some recently announced rate increases.

Two Democrats responsible for shaping health care legislation sent a letter (PDF) Monday to various insurance companies, the Wall Street Journal reports, asking for detailed information about executive pay, company events, retreats and other business practices.

Rep. Henry Waxman (D-Calif.), chair of the House Energy and Commerce Committee, and committee member Bart Stupak (D-Mich.) say in the letter that the committee is "examining executive compensation and business practices in the health insurance industry."

The letter asks each company to identify employees compensated more than $500,000 in any year from 2003 to 2008, as well as information on how those employees were compensated. It also asks for board member compensation, each companies' total revenues, net income, dividend payments, premium revenue, claims payments and other information. The congressmen requested a response from the companies by mid-September

Read more: http://www.cbsnews.com/blogs/2009/08/19/politics/politicalhotsheet/entry5253373.shtml

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bout time

[Yo_Mama_Been_Loggin]

16. The execs call it a fishing expedition.

Guess the righties know something about that.

[JustABozoOnThisBus]

19. More like a shark hunt

Or trolling for voracious bottom-feeders.
:hi:

Actually, that's not fair. Sharks and bottom-feeders serve a purpose. Insurance execs, not so much.

[obliviously]

17. I wish they would scrutinize their own pay while they are at it!

[No Elephants]

18. What do you mean? The pay of Congress is public record.

[JustABozoOnThisBus]

20. Base salary is public record

Campaign contributions, gifts, freebies, perks, kickbacks, promises of future lucrative employment, you gotta dig for that info. Some members partake of the offerings at the trough, some don't.

:hi:

[and-justice-for-all]

21. That stuff is not part of their standard salary...their base pay

which WE pay them.

All that shit you listed are "incentives" and things that should be banned.

[Vidar]

22. The only thing I don't like is the word "request". Heavily armed

Marshals should demand the documents. I'm tired of coddling the criminal class.