House Dems Ask Insurers For Info On Executive Pay And Retreats

Reps. Henry Waxman (D-CA) and Bart Stupak (D-MI) sent a letter to the heads of major health insurance companies requesting detailed information about their executive pay, retreats, profits and other practices.

The letter, which is not a subpoena but a request, does not mention health care reform. But Waxman, the chairman of the House Energy and Commerce Committee, is leading the Democrats in reform negotiations. Stupak, also on the committee, voted against the bill over concerns about abortion funding.

Read the letter here.

The Congressmen are asking for highly detailed information, including the pay for all employees making $500,000 or more, including salary, bonuses, stocks and other compensation, plus the pay for all board members and the companies’ policies for determining executive pay, all going back to 2003. They ask for a list of company retreats since Jan. 1, 2007, and documents showing who was there and what expenses they covered.

They’re also asking for detailed information on the companies’ finances when it comes to health insurance, including revenues, profits and the like.

Waxman and Stupak have given the companies a deadline of Sept. 14 to provide the information.

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