THE NATIONAL ROSTER: WELLPOINT
Headquarters:
Indianapolis, Indiana2007 Profits:
$3.345 billion2007 CEO Total Compensation:
Angela Braly, $9,094,271
Think your local Blue Cross Blue Shield is an independent? You may have to think again. WellPoint, the country’s biggest health insurance company, has Blue plans all over the country, most operating as Anthem Blue Cross Blue Shield. Just a few other holdings include: Blue Cross Blue Shield of Georgia, Blue Cross Blue Shield of Wisconsin, Empire HealthChoice Assurance, and Healthy Alliance.
Infamous For:
“Not Sacrificing Profitability”
Faced with lower-than-expected profits in the first quarter of 2008, WellPoint President and CEO Angela Braly announced new health insurance products to bring in new members—but not just any members.
Braly reassured investors, “As we are rolling out these new products we will continue to price business for appropriate margins. We will not sacrifice profitability for membership.”
The company’s Chief Financial Office, Wayne DeVeydt, reiterated this point. “I want you to know that we remain very disciplined in our underwriting approach and do not pursue business that we believe is priced below our profitability targets.”
Translation:
We’ll do everything in our power to make sure we only insure the healthiest of people.
Read about other insurance companies on the national roster:
Aetna | CIGNA | Coventry | Health Net | Humana | UnitedHealth
LATEST SCORECARD
Fifty-eight percent of primary care doctors in the U.S. report their patients often have difficulty paying for medications and care, and half of U.S. doctors spend substantial time dealing with restrictions insurance companies place on their patients’ care, according to the 2009 Commonwealth Fund International Health Policy Survey.
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Families saw their premiums for job-based health insurance rise to an average of $13,375 annually in 2009, with workers paying an average share of $3,515 and employers paying $9,860.
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