I watched the ABC healthcare special last night from beginning to end, including the overflow into the Nightline slot. Perhaps the most frustrating bit was when Ron Williams, the chairman and CEO of Aetna, complained to the president about how "it would be difficult" for private health insurance companies to compete with the public option.
And why is that, Mr. Williams?
Ron Williams Compensation for 2008
Salary $1,091,764.00
Restricted stock awards $6,456,630.00
All other compensation $101,487.00
Option awards $ $13,537,365.00
Non-equity incentive plan compensation $1,950,000.00
Change in pension value and nonqualified deferred compensation earnings $1,162,866.00
Total Compensation $24,300,112.00
Hmm. I wonder. Why might they have trouble competing?
WASHINGTON (AP) — Health insurance provider Aetna Inc. spent $809,793 in the first quarter to lobby on Medicare and broader health care issues, according to a recent disclosure form. [Meanwhile, Aetna spent $2,033,778 on lobbying in 2008.]
What could it be?
Or maybe Williams and Aetna should reconsider spending so much money on Max Baucus -- whose fifth largest political contributor is Aetna.
But okay. Blame the public option.