Health Reform Is Law, And WellPoint’s CEO Gets 51% Raise

Posted by | April 4, 2010 12:00 | Filed under: Top Stories

by Thomas Wellborn

Angela Braly (pictured), CEO of insurance monster WellPoint, certainly doesn’t seem to be suffering from the ominously predicted doom and gloom promised by Republicans due to the passage of President Obama’s health care reform bill.  In 2009, her total compensation jumped by 51% to $13.1 million.  According to the LA Times, “At least three other WellPoint executives got compensation increases of as much as 75%.” Not too shabby for an industry that claimed reform would be devastating for them.  Oh, and of course the irony: “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.”

So, WellPoint’s response?  Spokesman Jon Mills stated that Braly’s compensation was boosted because the company “wants to attract and retain top talent.”  The sad fact that the days of  record-breaking windfall profits remain ongoing for this industry begs to ask where the majority of this bill’s benefits lie when all is said and done.

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