House Dems Request Insurers’ Financial Records
"Dozens of the nation's largest insurance firms must decide whether to honor a request from House Democrats for detailed financial records, part of an investigation into executive compensation and other business practices in an industry that opposes President Barack Obama's health care proposals," The Associated Press reports. "A spokesman for Rep. Bart Stupak, D-Mich., said Tuesday night that 52 letters had been sent to health insurers with $2 billion or more in annual premiums," which includes requests for "records relating to compensation of highly paid employees, documents relating to companies' premium income and claims payments, and information on expenses stemming from any event held outside company facilities in the past 2 1/2 years."
The letter, signed by Rep. Henry Waxman, D-Calif., and obtained by AP, says the House Energy and Commerce Committee was "examining executive compensation and other business practices in the health insurance industry." Spokesmen from Aetna, UnitedHealth Group Inc., and WellPoint Inc., confirmed receipt of the letters "but declined comment" (Espo, 8/19).