Tuesday, August 18, 2009

The Heavy Hand of Government

When you start finding the average folks are rebelling against the government overhaul of health care, what do you do if you are Henry Waxman who wants to shove this takeover on the American public? You threaten health insurance firms by 'asking' for information on employee and board compensation. According to the Wall Street Journal, here is what Waxman and his fellow Congressman, Bart Stupak are asking for:

"The Waxman-Stupak letter asks companies to provide, by mid-September, the compensation packages of any employee or officer who made more than $500,000 in any year from 2003 to 2008. It also asks the companies to list all their board members and their compensation.
The congressmen also want information "listing all conferences, retreats or other events held outside company facilities from January 1, 2007, to the present."

"In addition, the letter demands more basic information, such as the companies' total revenues, net income, and total dividend payments, as well as premium revenue, sales expenses and profits."

With the idea of a 'public option' rapidly losing support and with the increased reticence of the public to support 'health care reform', oops, we meant health insurance reform, could it just be that this is a way to intimidate and get even with those evil insurance companies that are sending their armies of Nazi radicals out to bring down the government seizure of 17% of our economy. We'll let you draw your own conclusions.

You can read more at: http://online.wsj.com/article/SB125063757780841555.html#printMode

1 comment:

Anonymous said...

It is already public record. If Congress would bother to look, some of those numbers are already revealed in filings with state Department of Insurances.

Doesn't the federal government realize that they created this problem in the first place with Medicare reimbursement rates and ERISA?

Probably not.