Aetna

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Learn more about Pete Peterson-funded astroturf projects at the Fix the Debt Portal.

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
Tax Dodger ('08-'10) 28.8%
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]

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.


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

Related SourceWatch articles

References

  1. "Corporate Profile", organizational website, accessed January 2013
  2. "Aetna Facts", organizational website, accessed January 2013
  3. Aetna, "2011 Annual Report", organizational document.
  4. Aetna Key Executives, Yahoo Finance, accessed January 2013.
  5. Board of Directors, organizational website, accessed January 2013
  6. 2006 PAC Summary Data, Open Secrets, accessed December 2007.
  7. Aetna lobbying expenses, Open Secrets, accessed December 2007.