Health insurers' executive pay faces Congressional scrutiny

September 18, 2009

In a letter sent to executives, two top lawmakers demanded compensation information, for each year from 2003 to 2008, on health insurance company employees earning more than $500,000, including their bonuses, stock options, and other incentives.

A U.S. House of Representatives' committee requested detailed compensation information in August from 52 health insurance companies as part of an "ongoing investigation of the health insurance industry's business practices," according to a statement from the committee.

In a letter sent to executives, two top lawmakers demanded compensation information, for each year from 2003 to 2008, on health insurance company employees earning more than $500,000, including their bonuses, stock options, and other incentives.

"In retaliation for raising questions about a new government-run insurance plan, the health insurance industry is facing an unprecedented, expansive Congressional inquiry into companies' business practices," says Robert Zirkelbach, spokesman for the industry group America's Health Insurance Plans. "This is nothing more than a politically motivated, taxpayer-financed fishing expedition designed to silence health plans."