Wow. People really don't like insurance companies or their overpaid CEOs.
Our news release Wednesday, and a similar message to our mailing list, cheered the pending departure of Blue Shield CEO Bruce Bodaken. We included a rundown of how he treated his customers in the last few years: A rate increase proposal of up to 86% in a year. A corporate stash of $3.2 billion in excessive reserves. Yearly CEO compensation of $4.6 million. Just routine bahavior for a health insurance company.
We also reminded folks of Consumer Watchdog Campaign's initiative for the November ballot that would curtail this corporate arrogance by requiring insurance companies to justify their rates and reduce or withdraw proposed increases that are unjustifiable.
Not so routine was the reaction of readers. The messages poured in, many of them just "Keep it up" or "Thank you." Not one person said we should be nicer to insurance CEOs. And several were very clear on how they felt about insurance companies and their leaders. A sample:
I'm sure he has sucked in enough money to last many lifetimes, and to afford good health insurance. I wonder how much his successor will earn. S.B.
We're worried about losing our manufactured, but precious home [because of insurance costs]. And I know others are too. Will get everyone I know to vote for this in November. Thank you again, just gives us some hope. L.M.
Amazing job curtailing the abuses of the health insurance companies! T.W.
I loved your email that the CEO quit. They are taking everything away
from subscribers and giving it to themselves. It's not right. D.H.
A GROUP LIKE YOURS IS WHAT WE NEED
TO PROTECT US FROM THESE GREEDY CEOS. M.H.
Now go get that lady that runs Anthem. I'm sure her pockets are lined with cash. F.Z.
Great job Now when are you going after Aetna and other companies that over charged customers?
Thank you for looking out of all us tax payers and small business owners who are unable to purchase health Insurance because of high premiums and rates. L.V.
You are making a big difference in our lives. Good for you! D.P.