Investment Firms Question WellPoint Political Spending
Michael Pryce-Jones, senior analyst at CtW Investment Group, an umbrella group representing union pension funds, says the WellPac report does not include information about special assessments, which he defines as "one-time payments to trade organizations."
He contends that WellPoint's past and future political funding activity is especially relevant in light of its planned $4.9 billion acquisition of Amerigroup. "With the Amerigroup acquisition heavily premised on Medicaid expansion under the Affordable Care Act shareholders need to know whether WellPoint is part of any new industry efforts to undermine the ACA," he explains.
The group has not been able to rally shareholder support for its position. A resolution asking WellPoint to provide additional disclosure was soundly defeated during the company's annual meeting in May.
Margaret Dick Tocknell is a reporter/editor with HealthLeaders Media.
- EHR Systems 'Immature, Costly,' AMA Says
- Better HCAHPS Scores Protect Revenue
- CEO Exchange: Preparing for Population Health
- Narrow Networks Cut Costs, Not Quality, Economists Say
- Advocate, NorthShore Deal Would Create 16-Hospital System
- 3 Strategies for Retaining Millennial Employees
- Interstate Medical Licensure Effort Advances
- 'Early Offer' Malpractice Programs May Spur Reform
- How to Build a Health Plan from Scratch
- Limiting choice to control health spending: A caution