To President Barack Obama, however, it’s Exhibit A in his campaign to revive the health care overhaul.
Health and Human Services Secretary Kathleen Sebelius, who received the company’s explanation in a letter Thursday, said “it remains difficult to understand” how premium increases of that size by can be justified when WellPoint Inc. reported a $2.7 billion profit in the last quarter of 2009.
Majority leader Harry Reid, D-Nev., went further. In a speech on the Senate floor, he attacked WellPoint and other “greedy insurance companies that care more about profits than people.”
“They get rich while people who already can barely afford their coverage lose their coverage altogether,” Reid said.
WELLPOINT INC.
(RT-BATS: WLP)
|
|
| KEY EXECUTIVES at Wellpoint insurance |
Pay |
Exercised |
Ms. Angela F. Braly , 48
Chief Exec. Officer, Pres, Director and Member of Exec. Committee |
$ 1.21M |
$ 0 |
Mr. Wayne S. Deveydt , 40
Chief Financial Officer, Chief Staff Officer, Exec. VP and Head of Investor Relations |
$ 676.00K |
$ 0 |
Mr. Ken R. Goulet , 50
Exec. VP, Chief Exec. Officer of Commercial Bus. Unit and Pres of Commercial Bus. Unit |
$ 676.00K |
$ 218.00K |
Ms. Dijuana K. Lewis , 51
Exec. VP, Chief Exec. Officer of Comprehensive Health Solutions Bus. Unit and Pres of Comprehensive Health Solutions Bus. Unit |
$ 651.00K |
$ 0 |
Mr. Bradley M. Fluegel , 49
Chief Strategy & External Affairs Officer and Exec. VP |
$ 539.00K |
|
| INSIDER TRANSACTIONS REPORTED |
| Date |
Insider |
Shares |
Type |
Transaction |
Value* |
| 9-Feb-10 |
MAYS WILLIAM G
Director |
50,000 |
Direct |
Option Exercise at $35.85 – $44.18 per share. |
N/A |
| 9-Feb-10 |
MAYS WILLIAM G
Director |
31,200 |
Direct |
Sale at $60.97 per share. |
$1,902,264 |
| 9-Feb-10 |
BUSH WILLIAM H T
Director |
3,056 |
Direct |
Option Exercise at $6.34 per share. |
$19,375 |
| 9-Feb-10 |
BUSH WILLIAM H T
Director |
3,056 |
Direct |
Sale at $61.12 – $61.13 per share. |
$187,0002 |
| 5-Feb-10 |
BURKE SHEILA P
Director |
9,920 |
Direct |
Option Exercise at $25.61 per share. |
$254,051 |
| 5-Feb-10 |
BURKE SHEILA P
Director |
9,920 |
Direct |
Sale at $62 per share. |
$615,040 |
| 4-Feb-10 |
RIEGLE DONALD W JR
Director |
5,000 |
Direct |
Option Exercise at $44.18 per share. |
$220,900 |
| 4-Feb-10 |
RIEGLE DONALD W JR
Director |
5,000 |
Direct |
Sale at $63.60 per share. |
$318,000 |
| 3-Feb-10 |
BEER LORI A
Officer |
20,910 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
SASSI BRIAN A
Officer |
26,137 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
MILLER CYNTHIA S
Officer |
20,910 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
CANNON JOHN
Officer |
20,910 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
LEWIS DIJUANA K
Officer |
26,137 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
FLUEGEL BRADLEY M
Officer |
20,910 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
GOULET KENNETH R
Officer |
31,366 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
MILLER MARTIN L
Officer |
8,625 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
BRALY ANGELA F
Officer |
97,233 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
DEVEYDT WAYNE S
Officer |
26,137 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
BROWN RANDAL L
Officer |
20,910 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 3-Feb-10 |
NUSSBAUM SAMUEL R MD
Officer |
20,910 |
Direct |
Acquisition (Non Open Market) at $0 per share. |
N/A |
| 20-Jan-10 |
GLASSCOCK LARRY C
Director |
18,333 |
Direct |
Option Exercise at $44.18 per share. |
$809,951 |
| 20-Jan-10 |
GLASSCOCK LARRY C
Director |
18,333 |
Direct |
Automatic Sale at $67.62 – $69.56 per share. |
$1,257,0002 |
| 7-Jan-10 |
GLASSCOCK LARRY C
Director |
18,333 |
Direct |
Option Exercise at $44.18 per share. |
$809,951 |
| 7-Jan-10 |
GLASSCOCK LARRY C
Director |
18,333 |
Direct |
Automatic Sale at $62.33 – $63.66 per share. |
$1,155,0002 |
| 4-Jan-10 |
CANNON JOHN
Officer |
601 |
Direct |
Disposition (Non Open Market) at $59.75 per share. |
$35,909 |
|