Democratic Investigators Target Insurer's

[bonnie]

http://www.politico.com/news/stories/0809/26251.html

There is no limit to the arrogance of this administartion.

How about before we begin looking at insurance companies we take a long look at those sitting in their ivory tower of congress

Henry Waxman speaks on Capitol Hill.

Henry Waxman (pictured) chairman of the House Energy and Commerce Committee, and Bart Stupak, chairman of the Subcommittee on Oversight and Investigations, signed the three-page letters. Photo: AP

POLITICO 44

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.

Rep. Henry Waxman (D-Calif.), chairman of the House Energy and Commerce Committee, and Rep. Bart Stupak (D-Mich.), chairman of the Subcommittee on Oversight and Investigations, signed the three-page letter dated Monday.

An industry source replied when asked for comment: “This is nothing more than a taxpayer-funded fishing expedition designed to silence health plans."

By Sept. 4, the firms are supposed to supply detailed compensation data for board members and top executives, as well as a “table listing all conferences, retreats, or other events held outside company facilities from January 1, 2007, to the present that were paid for, reimbursed, or subsidized in whole or in part by your company.”

For employees or officers making $500,000 or more, the committee wants information on salary, bonus, options and pension.

And by Sept. 14, the firms are supposed to provide copies of reports from compensation consultants, plus board drafts of compensation plans and information about market share.

[bonnie]

HEY BONNIE

this is an interesting article dgrimm60

You might start to wonder when they could possibly turn their attention to religious denominations.

If they are going to intrude and take over everything else,that could be interesting.

I personally would be interested to see the fraud/corruption and waste within ours. No one seems to have an objection

[Tom Wetmore]

You know it's about time insurance companies are subject to scrutiny. Do you realize that for every healthcare insurance premium dollar 30+ cents goes for administrative costs. Las Vegas casinos are prohibited from exceeding 25% and typically stay below 20% for their adminstrative overhead. Insurance companies are gambling on our health and winning with record profits.

[bonnie]

You know it's about time insurance companies are subject to scrutiny. Do you realize that for every healthcare insurance premium dollar 30+ cents goes for administrative costs. Las Vegas casinos are prohibited from exceeding 25% and typically stay below 20% for their adminstrative overhead. Insurance companies are gambling on our health and winning with record profits.

Maybe before they do that they need to control medicare. Clean their own doorstep before they try sweeping someone else's.

A estimated 10 billion goes of medicare goes to fraud and other "necessary" costs.

Clean up the welfare mess. When my husband and I were foster parents only 28 cents of every dollar went to the care of the children,the rest went to "administrative costs".

It is high time the politicians are called to account for the way "our money" is spent.

The insurance companies are not gambling on our health.

You pay your premiums and they pay their cost for care.