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Sunday, April 04, 2010

WellPoint CEO receives a 51 percent increase in compensation.

Angela Braly, CEO of health insurance giant WellPoint, saw her compensation jump 51 percent to $13.1 million in 2009. The LA Times adds, “At least three other WellPoint executives got compensation increases of as much as 75%.” Braly’s boost comes as “WellPoint’s California subsidiary, Anthem Blue Cross in Woodland Hills, seeks double-digit rate increases for many of its 800,000 members who buy individual policies.” During the health care debate, WellPoint became the poster child for the abuses of the health insurance industry, pressuring lawmakers to support drastic reform and pushing Obama to add stronger cost control provisions into his health care blueprint. A Center for American Progress analysis from February found that “double-digit hikes have been implemented or are pending in at least 11 other states among the 14 where WellPoint’s Blue Cross Blue Shield companies are active.” WellPoint spokesman Jon Mills justified Braly’s compensation by saying that the company “wants to attract and retain top talent.”
Update Leighton Woodhouse of Brave New Films has more on Braly's raise. LinkHere


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