Aetna
| Campaign to Fix the Debt Company Profile | |
|---|---|
| Company Name | Aetna |
| CEO Name | Mark Bertolini |
| CEO Compensation | $10,556,335 |
| CEO Retirement Assets | $1,499,282 |
| Underfunded Company Pension | -$833,500,000 |
| Annual Company Revenue | $33,779,800,000 |
| Federal Lobbying/Political Donations ('09-'12*) | $14,410,775 |
| Click here for sources. 2011 data unless otherwise noted. ©2013 Center for Media and Democracy | |
Aetna Inc. is a U.S. health insurance company founded in 1853 in Hartford, Connecticut.[1] Aetna covers over 18 million people with its health plans, 13 million with dental plans, and 8 million with pharmacy plans.[2] It offers traditional health insurance as well as HMOs, PPOs, point-of-service (POS), and health savings accounts. It also has vision, behavioral health, and Medicare related plans. Aetna's top competitors are Blue Cross, CIGNA, and UnitedHealth Group.
In 2011, the company reported $ 33,779,800,000 in revenues.[3]
Access Aetna's corporate rap sheet compiled and written by Good Jobs First here.
Ties to Pete Peterson's "Fix the Debt"
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem."
This article is part of the Center for Media and Democracy's investigation of Pete Peterson's Campaign to "Fix the Debt." Please visit our main SourceWatch page on Fix the Debt.
| About Fix the Debt |
|---|
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.
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Institute for Clinical and Economic Review
Aetna is a significant funding source [1] for the Institute for Clinical and Economic Review (ICER)[[2]] a non-profit which has been criticized for providing insurers public support in their decisions to exclude prescription drugs from coverage. Steve Pearson, ICER's president and founder, was previously a senior fellow at America's Health Insurance Plans[[3]], the health insurance industry's lobbying arm in Washington, of which Aetna is a member.[4]
Personnel
Executives
| Key executives and 2011 pay: [4] | Options exercised |
|||
| Mark T. Bertolini, Chairman and Chief Executive Officer | $3,250,000 | $6,490,000 | ||
| Joseph M. Zubretsky, Chief Financial Officer | $2,260,000 | $0 | ||
| Margaret M. McCarthy, Executive VP of Operations | $1,720,000 | $487,000 | ||
| William J. Casazza, Senior VP and General Counsel | $1,210,000 | $843,000 | ||
| Lonny Reisman M.D., Chief Medical Officer | $1,470,000 | $1,260,000 |
Board of Directors
As of January 2013[5]
- Fernando Aguirre, Former Chairman, President and Chief Executive Officer, Chiquita Brands International, Inc.
- Mark T. Bertolini Chairman, Chief Executive Officer and President, Aetna
- Frank M. Clark, Former Chairman and Chief Executive Office, Commonwealth Edison Company
- Betsy Z. Cohen, Chief Executive Officer, The Bancorp, Inc.
- Molly J. Coye, M.D., Chief Innovation Officer, UCLA Health System
- Roger N. Farah, President, Chief Operating Officer and Director, Ralph Lauren Corporation
- Barbara Hackman Franklin, President and Chief Executive Officer, Barbara Franklin Enterprises, Former U.S. Secretary of Commerce
- Jeffrey E. Garten, Juan Trippe Professor in the Practice of International Trade, Finance and Business, Yale University
- Ellen M. Hancock, Former President of Jazz Technologies, Inc., Former Chairman and Chief Executive Officer of Exodus Communications, Inc.
- Richard J. Harrington, Chairman, The Cue Ball Group and Former President and Chief Executive Officer, The Thomson Corporation
- Edward J. Ludwig, Former Chairman and Chief Executive Officer, Becton, Dickinson and Company
- Joseph P. Newhouse, John D. MacArthur Professor of Health Policy and Management, Harvard University
Political contributions
Aetna gave $233,500 to federal candidates in the 2006 election through its political action committee - 28% to Democrats, 68% to Republicans, and 4% to independent Joseph Lieberman (I-CT). [6]
Lobbying
The company spent $1,219,469 for lobbying in the first half of 2007. $520,000 went to six lobbying firms with the remainder being spent using in-house lobbyists. Some of the lobbying firms were Ernst & Young, Jefferson Government Relations, and Akin, Gump, Strauss, Hauer & Feld. [7]
Contact details
Corporate Headquarters
151 Farmington Avenue
Hartford, CT 06156
Phone: 860-273-0123
Fax: 860-273-3971
Web: http://www.aetna.com
Articles and Resources
Featured SourceWatch Articles on Fix the Debt
- Fix the Debt Portal Page
- Fix the Debt's Leadership
- Fix the Debt's Partner Groups
- Fix the Debt's State Chapters
- Fix the Debt's Lobbyists
- Fix the Debt's Parent Group
- Fix the Debt's Corporations
- Pete Peterson
- Peter G. Peterson Foundation
- America Speaks
- Simpson-Bowles Commission
- Erskine Bowles
- Alan Simpson
- Social Security
- Medicare
- Medicaid
- Craig R. Callen
Related SourceWatch articles
References
- ↑ "Corporate Profile", organizational website, accessed January 2013
- ↑ "Aetna Facts", organizational website, accessed January 2013
- ↑ Aetna, "2011 Annual Report", organizational document.
- ↑ Aetna Key Executives, Yahoo Finance, accessed January 2013.
- ↑ Board of Directors, organizational website, accessed January 2013
- ↑ 2006 PAC Summary Data, Open Secrets, accessed December 2007.
- ↑ Aetna lobbying expenses, Open Secrets, accessed December 2007.
