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Life Health > Health Insurance

Maryland Regulators Post CareFirst Report, Response

By Staff Writer

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NU Online News Service, Nov. 18, 5:05 p.m. – The Maryland Insurance Administration has posted a copy of the controversial report about executive compensation at CareFirst Inc., Owings Mills., Md., and CareFirst’s response, on its Web site, at http://www.mdinsurance.state.md.us/jsp/CareFirst.jsp10?divisionName=CareFirst+Conversion+Information%5EExpert+Reports&pageName=/jsp/CareFirst.jsp10

Maryland insurance regulators commissioned the report from Roger G. Brown & Associates, Jefferson City, Mo., a consulting firm, after WellPoint Health Networks Inc., Thousand Oaks, Calif., announced plans to acquire CareFirst.

WellPoint holds the Blue Cross license for California, and CareFirst holds the Blue Cross and Blue Shield licenses for northern Virginia, the District of Columbia, Maryland and Delaware.

CareFirst contends its executive compensation rates have been reasonable, but the consulting firm says the company has overpaid its executives.

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