Business
Congressional panels ask insurers for more information on executive pay
NEWS IN BRIEF — Posted Aug. 31, 2009
The House Committee on Energy and Commerce has asked 52 health insurers for detailed information on executive compensation and profits as part of its ongoing investigation into the health insurance industry.
In Aug. 17 letters, Rep. Henry Waxman, (D, Calif.), the committee chair, and Rep. Bart Stupak, (D, Mich.), chair of the subcommittee on oversight and investigations, asked the insurers for information on compensation and company income for the years 2003 to 2008. They asked health plans to provide one set of information by Sept. 4 and the remainder by Sept. 14.
Meanwhile, Cigna is under congressional scrutiny for its alleged "purging" of small businesses with expensive medical bills.
U.S. Sen. Jay Rockefeller, (D, W.Va.) chair of the Senate Commerce Committee, sent a letter Aug. 5 to Cigna asking why the company has denied the practice despite describing to investment analysts earlier this year how it was intentionally dropping some small-group membership.
Rockefeller asked for a reply by Aug. 19, but the deadline was later extended to September, Cigna spokesman Chris Curran said.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2009/08/31/bibf0831.htm.
