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WellPoint CEO Pay Jumps By 51 Percent

Discussion in 'Political Discussion' started by Holy Diver, Apr 2, 2010.

  1. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Hmmmm...

    Thats odd. I'll actually spleep a lot better tonight, knowing that Angela has an extra 4 million this year.

    I thought all of these costs were skyrocketing, thus the need for WellPoint to raise rates on it spolicyholders, and actually cover less benefits to its OWN employees...

    so why is the CEO getting paid 51% MORE?????

    Angela Braly: WellPoint CEO Pay Jumps By 51 Percent

    Angela Braly's overall compensation rose to $13.1 million from $8.7 million in 2008, according to a filing with the Securities and Exchange Commission on Friday. Her salary rose less than 1 percent to just over $1.1 million. She received a performance bonus of $1.5 million, a sharp jump from $73,810 a year prior.

    get it while you can, Angel, your industry is going out of bizzzz.....
     
  2. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    If you are not a shareholder why do you care?


    How much did DiNiro make for his last film? How much did 50cent make for his last concert tour?

    Who cares?
     
  3. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    I know all you rich people have to watch each others back...:rolleyes:
     
  4. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    How about if they just jacked my rates by 30%??? claiming that the cost of care has gone up?

    How about if I am a customer? Which I am.

    This is more like you going to a DE NIRO movie, them stopping the film about 20 minutes in and charging you another 5 bucks to finish it, and leave.

    Or buying a 50 cent album for 12 bucks, then finding out that you have to pay a fee each time you play a song.
     
    Last edited: Apr 2, 2010
  5. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    I don't think 13 listens to 50c albums. Just a hunch. He probably listens to Wagner's Die Walküre while struting around in his underware :bricks:
     
    Last edited: Apr 2, 2010
  6. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Its no secret why he brought up Bobby D and Curtis Jackson...

    He could've just as easily asked how much money did Sean Hannity make at his freedom concerts....but oddly he didn't...
     
    Last edited: Apr 2, 2010
  7. BSR

    BSR In the Starting Line-Up

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    Maybe because she did a really good job and they wanted to make sure they kept her? Good for her.
     
  8. Mrs.PatsFanInVa

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    #24 Jersey

    I take it you're ok with all the bonus money paid on Wall Street, too, right?

    Good for them, too, right?
     
  9. chicowalker

    chicowalker Pro Bowl Player

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    Re Wall Street bonuses: sure, why not?

    (actually, that's not entirely true: if our government was too stupid, or unsophisticated, to include covenants against certain pay practices at companies they invested our $ in, I do have a problem with that -- with the politicians, that is)
     
    Last edited: Apr 3, 2010
  10. BSR

    BSR In the Starting Line-Up

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    Why should my opinion on it matter? I see no reason why I should have any say in what they pay their employees, just as I don't want them to have a say in mine.

    I am also curious what people think will happen if companies stop paying out big salaries and bonuses. Do you think prices will drop? Why would they? Companies don't price their products and services by their cost structure. They price them by what the market can bear and not a penny less. Why would they ever want to sell them for less then that? Sure your profits might jump up temporarily, but only until your best employees move onto the company that is willing to sacrifice those temporary profits to pay them more. Its the epitome of penny wise and pound foolish.
     
  11. Bigdogx

    Bigdogx On the Game Day Roster

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    Why the hell should people care what a privately owned businesses pay their employees, what i do have a problem is with government employee hacks which is pretty much every position filled by this government. How many dpw workers making close to 100k, how about state cops clearing a 1/4 of a million a year on our tax dime, that **** is what needs to be put to a end! I could careless if a private business pays their top employees top dollar, it's their damn business and not yours or mine!

    We have states going broke and not a single sacrifice by government hacks, all they do is complain and demand more tax money! I say we start cutting all government pay in half, not going after private industry.
     
  12. Mrs.PatsFanInVa

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    #24 Jersey

    We care because every one of us, other than those on Medicare, pay premiums, if not to WellSource, to other private insurance companies. We've all seen our premiums rise drastically over the last several years, we've all seen our benefits slashed, our copays rise and our prescription out-of-pocket costs skyrocket. We've all heard the insurance companies whine about how their profit margin is so small, their payouts so large, their policy holders so sick, etc., etc., and that's what necessitated each yearly round of higher premiums/less benefits.

    If it's true that their profit margins are so slim, then how the hell can they afford to give their CEO a 51% salary increase? From an already too high amount to an even higher too high amount, no less!!

    When WellPoint raises their CEO's salary that high it means that other insurance companies will use it as an excuse to raise their CEO's salary as well.....competition to keep the "best," you know. That means that eventually, even though my insurer is BC/CS the WellPoint salary scale will affect me, too.

    I don't know about you - but it irritates me when I'm paying for someone else to make $13.1 million dollars a year in an economy that's bottoming out and in a business that's crying poverty in order to take even more of my hard earned dollars and put it into their own private coffers and not back into my health care.
     
  13. Bigdogx

    Bigdogx On the Game Day Roster

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    And i don't know about you but it irritates me to see my property taxes increase along with every other tax beyond the sun to help fund complete irresponsibility within the government with overpaid and under performing workers who just honestly do not deserve the pay they are given. We are talking a few token ceo's here vs a couple hundred thousand overpaid under performing tax paid government positions! Why do you show no concern over something that actually effects every tax paying American!
     
  14. Mrs.PatsFanInVa

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    #24 Jersey

    Because that would be another thread, wouldn't it? One that's been repeated here at least a dozen times in the last 6 months or so.

    This was a thread about a CEO of a health care insurer - not about government employees.

    If you'd like a link to some of the threads about overpaid government workers I'm sure I can send you a few.
     
  15. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    You're joking, right???

    I can't imagine you don't understand how a health insurance company derives revenue.

    You DO understand that this is a health insurance company that relies on its income (and CEO's pay) from PREMIUM payments that it has been jacking up at rates averaging 20+% per year the past 5 years (and 30+% this year)?
     
    Last edited: Apr 4, 2010
  16. chicowalker

    chicowalker Pro Bowl Player

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    And this is part of the reason healthcare reform is needed, imo. I'm very pro-business and generally a free market advocate, and I generally am unsympathetic to complanits about executive comp. But health insurance isnt a truly free market. When it's employer based, an employee can't simply switch to whatever provider he wants. If you have a prw-existing condition, you can't "vote with your wallet.".
     
  17. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Look at the profit margins for these firms, not very large the raise in prices is driven by government, you apparently don't see this.


    Do you have a problem with how much B Kraft makes? T Brady?



    If you own shares in these companies then file your complaint. I don't live my life on the basis of envy of others. YMMV
     
  18. Mrs.PatsFanInVa

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    #24 Jersey

    How, pray tell, is it the government driving the price of health insurance up?

    If their profit margin is so slight where do they find the money to raise a salary by 51%?

    If I have a problem with Kraft or Brady I don't have to contribute to paying their salaries, do I? All I have to do is not go to a game and not buy an overpriced jersey.

    I do, however, have to buy health insurance.

    How 'bout if we paid premiums to the company, 13, and our premiums went up 30% last year while our benefits decreased - do we get to file complaints, then, too?

    It has nothing to do with envy and everything to do with trying to get the best deal for your dollar. Something tells me that if my health insurance company is charging me more and giving me less while raising their CEO's salary by 51% that my dollar is not being used for my benefit.

    That's not envy, that's common sense.
     
  19. BSR

    BSR In the Starting Line-Up

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    The reality is that the $13.1 million is narry a drop in the buckett, especially when you consider that the large majority of that is stock options and not actual cash payments. You know what would be a larger savings? Doctors salaries. Lets create an insurance company that pays half of the typical salaries to not only CEOs and administrators but to doctors as well. Of course, some doctors may leave but I am sure there will be plenty of doctors that will stay on. Do you want to sign up? What if your employer offered this as your only plan?
     
  20. Mrs.PatsFanInVa

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    #24 Jersey

    Please don't tell me that you are under the assumption that insurance companies pay the doctors what the doctors charge, are you?

    Every private insurance company, and I mean EVERY private insurance company, "negotiates" a contract with all their providing doctors each year. In this contract they tell the doctor exactly what they are going to pay him for each coded charge. (Office visit - new, office visit, established, injection, gluclose test, etc.) The doctor is then free to accept this figure or reject it. If he rejects it, he's out of their plan - plain and simple. They will no longer pay him to see any of their insured clients. Too bad, so sad.

    That's the negotiation process between insurance company and physician, insurance company and hospital, insurance company and medical provider.

    Of course plenty of doctors stay on - where are they going to go? The insurance companies all follow Medicare guidelines and they "set" their prices accordingly. The big difference between them and Medicare is that Medicare actually pays the doctor 9 out of10 times without a hassle, the insurance companies routinely deny coverage on roughly 1/3 to 1/2 of all claims filed. The time spent in refiling the claims does more than eat the cost of the small difference in claim payment.

    No one's getting rich except the guys at the top of the insurance company totem pole. No one. Certainly not the doctors and certainly not the policy holders.
     

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